How to do your Arbitrum Nova taxes with Koinly
Arbitrum Nova is a layer 2 scaling solution offering low transaction costs and high security, focused on scalability for high-volume dApps. But if you have transactions on Arbitrum Nova, you may have a surprise tax bill in store. Don’t worry, Koinly can help. Here's how.
Follow these steps to sync your Arbitrum Nova data automatically to Koinly:
- Open your Arbitrum Nova wallet app
- Locate and copy your public address or key
On Koinly:
- Create a free account on Koinly
- Complete onboarding until you get to the Wallets page and find Arbitrum Nova in the list
- Select API > Paste the public address/key you copied above in the appropriate box
- Hit Import and wait for Koinly to sync your data. This can take a few minutes
- Review your transactions on the Transactions page to ensure everything is tagged correctly and no missing data
- Go to the Tax Reports page to view your tax liability!
- Head over to our help center
- Hit up our discussion boards - we might have already answered your question
- Ask us on social media - we're on Twitter and Reddit
- Contact us on email or live chat
- Got a feature request? Give us feedback on Canny
FAQs
Do I have to pay tax on my Arbitrum Nova transactions?
Yes. In most countries in the world, crypto is taxable, including your Arbitrum Nova transactions. It depends on the tax laws where you live and your transactions, but you'll generally pay Capital Gains Tax on any gain from disposing of coins or tokens or Income Tax on any additional income from crypto. Learn more in our crypto tax guides.
How do I get an Arbitrum Nova tax report?
The easiest way to get a tax report with all your Arbitrum Nova transactions accounted for is with a crypto tax calculator like Koinly. With Koinly, you can simply connect automatically using your public address and Koinly will import your Arbitrum Nova transaction history and calculate your gains, losses, income, and more. Finally, it'll generate your crypto tax reports, ready to help you file.
