Ballet Wallet is a cold storage wallet based in the US. Their REAL series cryptocurrency wallets allow users to store multiple cryptocurrencies in secure, offline storage, while the Ballet Crypto app allows users to transact with their crypto securely.
You'll need to calculate and report any income or capital gains you made with your tax office. For most people, this happens as part of your annual tax return. You can do this yourself, by getting your Ballet Wallet transaction history and identifying your taxable transactions and calculating your gains and income yourself... or you can use a crypto tax calculator like Koinly to do this for you and generate your Ballet Wallet tax report. Here's how it works.
Please note, you'll need to add the public address of every blockchain you interact with using Ballet Wallet to Koinly to get your complete transaction history, so you'll need to repeat the steps above for each coin you hold in Ballet Wallet.
You'll need to repeat the steps above for every blockchain you interact with using Ballet Wallet.
If you prefer, you can integrate Koinly with Ballet Wallet by uploading a CSV file of your transaction history instead. Just find the option to export your transaction history as a CSV file from Ballet Wallet. Once you've have it, follow the instructions below to import your file(s) to Koinly.
1. When downloading your CSV files, check that the file covers your full trading history. This means you may need multiple CSV files.
2. Don't forget to tag your airdrops and forks. This will ensure that they show up correctly as income on your Koinly tax reports.
If you need help connecting Ballet Wallet and Koinly, check out these great resources:
Sign up free today and calculate your Ballet Wallet taxes
No. Ballet Wallet does not provide users with tax documents. You'll need to get your transaction history and calculate your taxes yourself, or use crypto tax software.
The easiest way to get your Ballet Wallet tax report is to connect to crypto tax software via API in minutes which can then generate your report for you. Alternatively, you can upload CSV files of your transaction history instead.
No. Ballet Wallet does not provide financial or end of year statements, but you can use crypto tax software to help you generate the statements you need for tax purposes.