How to file your Boba taxes with Koinly
Boba Network is a layer-2 Ethereum scaling solution that supports advanced decentralized applications and cross-chain interoperability. But if you have BOBA transactions, you might have a tax bill. Koinly can help, you just need to import your data. Here's how.
Follow these steps to sync your Boba network (ETH) data automatically to Koinly:
- Open your Boba network (ETH) 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 Boba network (ETH) 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
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- Contact us on email or live chat
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FAQs
What is Boba Network?
The Boba Network is a Layer 2 scaling solution for Ethereum, leveraging Optimistic Rollup technology to enhance scalability, reduce gas fees, and improve transaction speed while maintaining Ethereum's security. It supports complex decentralized applications through features like hybrid computing for off-chain interactions and cross-chain interoperability for seamless asset transfers. The network is optimized for DeFi, gaming, and NFTs, making it ideal for cost-efficient and high-performance blockchain use cases. Its native token, BOBA, is used for governance, staking, and transaction fees.
Do I have to pay tax on my Boba transactions?
Yes, gains and income from crypto are generally subject to Income Tax or Capital Gains Tax depending on where you live and your transactions. Learn more in our crypto tax guides.
How do I calculate my Boba taxes?
The simplest way to calculate your Boba taxes is by using Koinly. Simply add your public address, and Koinly will automatically import your Boba transaction data and crunch the numbers for you.
