Yoroi is a light wallet for Cardano and Ergo, and a popular option for investors that are staking ADA. Koinly connects with Yoroi via API or CSV file. Once connected, Koinly will quickly calculate your Yoroi taxes and generate your crypto tax report.
1. Log in to your Yoroi account.
2. Select the settings icon in the menu on the left.
3. Select wallet from the top menu and scroll down to export wallet.
4. Select export.
5. Copy your public key.
6. Head over to Koinly.
Koinly now supports all Cardano tokens and staking rewards.
1. Log in to your Yoroi wallet.
2. From your dashboard, select transactions from the top menu.
3. Select the export icon in the top right corner.
4. Select export.
5. Head over to Koinly.
1. When downloading your CSV files, check that the file covers your full trading history.
2. Double check your Yoroi Wallet staking rewards are tagged correctly for your country’s tax rules - in most countries, staking rewards are taxed as income.
3. CSV files from Yoroi are usually exported in your local timezone. This isn’t an issue, just make sure you select the file’s timezone when you’re importing it into Koinly - find out more in our guide.
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No, Yoroi doesn't provide tax documents or reports. But you can use your Yoroi transaction history to calculate your crypto taxes and create a crypto tax report. The fastest way to do this is by downloading a CSV of your Yoroi transaction history or using the Yoroi API with a crypto tax app.
While Yoroi doesn't supply any tax documents you can use your Yoroi transaction history to create a financial statement to use in your tax report. Remember, you'll need your complete Yoroi transaction history to accurately calculate your cost basis, as well as your short and long-term gains.
No, Yoroi does not provide an EOFY statement. But you can use your Yoroi transaction history export to create an end-of-year statement or generate an end of year holdings report using your crypto tax app.
Yes - if you have capital gains or income as a result of your crypto investment activities on Yoroi, 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!
It’s unlikely that Yoroi reports to the IRS. Yoroi is a light wallet with no KYC verification, so they have no information to share with the IRS. However, if you move ADA between Yoroi and larger centralized exchanges, these larger centralized exchanges do collect KYC data and have faced pressure to share this data with the IRS.
Yes. Yoroi 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 Yoroi wallet to delegate ADA to a staking pool. Just select the delegate list menu to find your 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.