Daedalus is a full node wallet for Cardano - letting investors stake ADA and earn rewards. You can connect Daedalus to Koinly using API or by importing a CSV file of your transaction history. Once you’re connected, Koinly will calculate your Daedalus taxes in no time at all.
The tax you’ll pay on your Daedalus transactions depends on where you live and the transactions you’ve made. For more information about crypto tax where you live, check out our crypto tax guides, but in brief:
To file your Daedalus taxes, you'll first need to calculate and report any income or capital gains you made from Daedalus with your country's tax office. Generally, this activity is included in your annual tax return.
There are a couple of ways you can calculate your income and gains. You can either do it manually, by identifying your taxable transactions, calculating your net capital gain or loss, and the fair market value of any crypto income.
Or, you can use a crypto tax calculator like Koinly that will automatically generate a country specific tax report for you, ready to be filed with your tax offices. All calculations will be completed by the app, no manual work required!
Koinly works by importing your Daedalus transaction data to analyze what's taxable, and what's not. Here’s how to connect.
Koinly now supports all Cardano tokens and staking rewards!
You'll need to start by downloading a CSV file with your full trading history from Daedalus before you can upload it to Koinly - here's how.
Now you've got your CSV file, here's how to upload it to Koinly.
Double check your staking rewards are tagged correctly for your country’s tax rules - in most countries, staking rewards are taxed as income.
Problems connecting Daedalus and Koinly? No worries - there's help at hand:
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No, Daedalus does not provide a tax report to its users, but you can use crypto tax software to create one in minutes.
The easiest way to get your Daedalus tax documents is to connect to Koinly automatically using your Cardano public address. Once connected, Koinly calculates your tax liability and generates your tax report.
No, but you can import your Daedalus trading and transaction history to crypto tax software to generate one.
Yes - if you have capital gains from trading or selling ADA or income from staking ADA using Daedalus, you'll need to report these to your tax office and pay taxes on them. It’s best to keep on top of your crypto taxes, penalties can be steep!
Yes. Daedalus wallet is generally considered a safe ADA wallet. However, your wallet is only as safe as you are, so always follow best security practices.
Yes, you can use your Daedalus wallet to delegate ADA to a staking pool. Just go to the Daedalus delegation center and find a Cardano staking pool.
Yes. Staking rewards, including ADA, are generally viewed as additional income and you’ll need to pay Income Tax upon receipt based on the fair market value of your ADA at the point you receive it.