Trezor is one of the most trusted and secure hardware wallets available for crypto investors, letting you securely store your crypto assets offline, as well as buy, exchange and sell through Trezor Suite via desktop and browser. Whatever your investments, Koinly can help you with your Trezor taxes.
The tax that applies to your Trezor transactions depends on the specific transaction and your country's rules on crypto tax. This said, generally speaking, there's two taxes that might apply to your crypto:
No. Trezor does not provide tax documents or reports. Instead, you'll need to get your Trezor transaction history, identify your taxable transactions and calculate your capital gains and income. Better still, use a crypto tax calculator like Koinly to do it for you.
Koinly works with Trezor to help you get your crypto taxes done in a fraction of the time it would take you to do it yourself. There's two ways to connect Trezor and Koinly - either connect via API using your public address, or upload a CSV file of your Trezor transaction history.
Once connected, Koinly becomes the ultimate Trezor tax tool. How? Koinly will calculate your Trezor taxes based on your location and generate your crypto tax report, all within 20 minutes. All you’ll need to do at tax time is download the crypto tax report you need from Koinly and file it with your tax office.
You'll need to get your public address for each blockchain you interact with using Trezor - for example Bitcoin, Ethereum, and Binance Chain. This means you'll need your public address, or in some instances xpub key, for each blockchain. We'll show you how to get both.
You'll need your xpub key for these blockchains, not your public address.
You'll need to download a CSV file for each coin you hold in Trezor, as well as a CSV file for each account you have relating to that coin.
Trezor is a non-custodial wallet with no KYC, making it a secure and private wallet. In other words, it's very unlikely Trezor are sharing data with the IRS or any other tax office for that matter.
This said, if you've moved assets from your Trezor wallet to centralized crypto exchanges, many of these exchanges are legally compelled to share data with the IRS and other tax offices - potentially including your Trezor address.
If you're having trouble connecting Trezor and Koinly, these resources could help: