How to do your Pionex taxes

Calculate your Pionex taxes with Koinly to generate accurate Pionex tax reports. Just export your Pionex transaction history as a CSV file and upload this to Koinly. Once it has your transaction data, Koinly calculates your Pionex taxes, including gains, losses, and income, and generates your Pionex tax forms. Here's how it works:

How are Pionex transactions taxed?

Crypto tax varies depending on where you live (so read our crypto tax guides for more information). This said, in general, two taxes may apply to your Pionex transactions:

• Capital Gains Tax: When you dispose of cryptocurrency, you may realize a capital gain or loss based on the change in value since you acquired it. Common disposal events include selling your crypto or exchanging it for another digital asset.

• Income Tax: When you receive cryptocurrency as income, you're required to report it based on its fair market value at the time of receipt. This applies to situations like receiving staking rewards or airdrops.

If you're using crypto trading bots, you're likely executing numerous transactions, each of which may trigger a taxable event. In some countries, a high volume of transactions may result in investors who are using trading bots being taxed as a business instead. You should speak to an experienced accountant for advice on whether this may be the case for you, but some criteria that tax offices consider includes:

• The amount of time and effort you dedicate to your trading activities

• Whether you maintain accurate records and conduct your trading in a businesslike manner

• The extent to which you rely on income generated from trading

• Whether your trading activities are profitable in certain years, and the overall amount of profit earned

Does Pionex automatically deduct taxes?

No, Pionex does not automatically withhold or file taxes on your behalf. As a user, you’re responsible for tracking your taxable events, such as gains or income from trades, and reporting them to your local tax authority.

Does Pionex report to tax offices?

Pionex doesn't operate in many countries as per it's terms of service as it has relatively low KYC procedures, meaning it doesn't meet the regulatory requirement to operate in many countries. As such, it's unlikely Pionex is reporting to tax offices like the IRS, CRA, or HMRC as it doesn't offer services there.

Does Pionex send tax forms?

No, Pionex does not issue tax forms directly. Since it serves a global user base, generating tax documents for every jurisdiction isn’t practical. However, you can easily create Pionex tax reports by connecting your Pionex account to a crypto tax calculator like Koinly.

How do I get my Pionex tax documents?

To report your crypto activity from Pionex on your annual tax return, you’ll need to calculate any income, capital gains, or losses for the year. There are two ways to go about it:

• Manually review your transactions, identify taxable events, calculate your net capital gain or loss, and determine the fair market value of any crypto income.

• Use a crypto tax calculator like Koinly to handle it automatically.

Koinly connects to your Pionex account, imports your transaction history, and helps you identify which transactions are taxable, making tax reporting fast and accurate.

Optimize your Pionex taxes

Smart investors don’t wait until tax season to assess their obligations. Instead, they use tools like Koinly throughout the year to track unrealized losses, giving them the opportunity to harvest those losses and reduce their overall tax bill.

Koinly offers features designed to help users minimize their tax liability (depending on your jurisdiction), including a tax optimization tool that highlights potential losses and models how realizing them could impact your taxes. It also includes an asset maturity dashboard, helping you identify which assets qualify for long-term capital gains treatment, which are often taxed at a lower rate.