How to get Kraken tax forms

Learn how to calculate your Kraken taxes, including gains, losses, and income, and how to generate accurate Kraken tax forms. All you need to do is sign up to Koinly and connect to Kraken via SSO or upload your transaction history in a CSV file and let Koinly calculate your Kraken taxes. Here's how.

Please note that if you're using Kraken Futures, you'll need to import your futures transactions to Koinly separately. Here's how.

How are Kraken transactions taxed?

Crypto tax rules vary depending on your location (so read our crypto tax guides for more info). However, generally speaking, two taxes may apply to your Kraken investments:

• Capital Gains Tax: When you dispose of crypto by selling, swapping, spending, or (sometimes) gifting it and make a profit, Capital Gains Tax may apply. CGT also generally applies to realized profits from margin and futures investments.

• Income Tax: When you earn new coins, like staking rewards on Kraken, Income Tax may apply.

Does Kraken automatically deduct taxes?

No. Kraken does not automatically withhold taxes on behalf of users. It’s your responsibility to identify any taxable transactions and pay any taxes owed on gains or income from your Kraken activity to the appropriate tax authority.

Does Kraken report to tax offices?

Yes. Kraken reports to the IRS and other tax offices globally. Learn more in our guides:

• Does Kraken Report to the IRS?

• Does Kraken Report to the ATO?

• Does Kraken Report to HMRC?

• Does Kraken Report to the CRA?

Does Kraken send tax forms?

For some specific users in the US, Kraken issues 1099 forms. Otherwise, you'll need to utilize your Kraken transaction history to figure out any tax liability owed from your investments.

Why isn't my Kraken tax form accurate?

If you’ve only transacted on Kraken, meaning you bought, sold, and held your crypto solely on the platform, and you’re in a supported country, then tax forms generated by Kraken, such as 1099-MISC forms, may be accurate. However, for many users, this isn't the case, mainly due to issues with cost basis.

Your cost basis is the original value of your crypto, including any eligible fees, used to calculate your capital gain or loss when you dispose of it (such as through a sale, swap, or spend). If you acquired your crypto outside of Kraken and transferred it into the platform, Kraken may not have access to the original cost basis. As a result, any reported gains or losses could be inaccurate.

This issue isn’t unique to Kraken. Most crypto exchanges currently lack a system for sharing cost basis data across platforms, making tax calculations more complex. That’s why many crypto exchanges, including Kraken, have opted to partner with crypto tax software like Koinly, which supports over 900 exchanges, wallets, and blockchains to simplify importing and consolidating your transaction history.

How to get Kraken tax forms

You’ll need to report any income or capital gains from Kraken to your tax office, typically as part of your annual tax return.

You can calculate this yourself by identifying taxable transactions and working out gains and income based on fair market value, or save time by using a crypto tax calculator like Koinly.

Koinly imports your Kraken data via API or CSV, identifies taxable activity, and generates ready-to-file tax reports. It also consolidates transactions across all your exchanges, making crypto tax reporting much simpler.