Simplify CoinJar tax reporting with Koinly. Integrate via API or CSV to easily calculate the tax liability of your CoinJar transactions, trading and history. Get started for FREE!
You might be wondering, does CoinJar provide CSV tax and trade history reports? What about a CoinJar tax API? Is it even possible to get tax info and statements from CoinJar? The good news is, while CoinJar might not provide tax forms and documents, CoinJar does offer 2 easy ways to export transaction and trade history!
CoinJar pairs with Koinly through API or CSV file import to make reporting your crypto taxes easy. Once connected, Koinly becomes the ultimate CoinJar tax tool. How? Koinly will calculate your CoinJar taxes based on your location AND generate your EOFY tax report, all within 20 minutes! All you’ll need to do at tax time is download your CoinJar tax statement from Koinly and file it with your local tax authority. Done!
You'll need to connect your CoinJar wallet and your CoinJar exchange separately. Follow the instructions below for both.
Good to know
Once you've selected secure import, it takes a few minutes to import your transaction data. This is normal, it's just Koinly identifying the different types of transactions and calculating your taxes. When your data is imported, you might see a small yellow warning icon next to your CoinJar wallet. This icon shows there is an issue with the imported data. Click on it to identify the exact issue and learn more about how to resolve these issues here. If you're using the API integration method for CoinJar exchange, your imported data is limited to your last 100 deposits and withdrawals. If you know you have more trades than this, you should use the CSV file import method instead to include all your CoinJar transaction history.
Like above, you'll need to download your CSV files separately from CoinJar wallet and from CoinJar exchange.
Good to know
For both CoinJar wallet and CoinJar exchange, your CSV file is sent to the email address associated with your account. For CoinJar wallet, this should arrive in your inbox within 15 minutes. For CoinJar Exchange, this takes up to an hour. Make sure you download the right transaction history statement from each account. For CoinJar wallet, this is the Purchase & Sales CSV and the Deposits & Withdrawals CSV. For CoinJar Exchange, this is your Fill Report. This includes all trades made with your CoinJar exchange account. When you're selecting the date range, make sure to include your full trading history for both CoinJar and CoinJar exchange. You can do this by creating a custom date range that starts on the same day you created your account. For CoinJar exchange, reports that exceed 1,048,576 rows might not open in Microsoft Excel. This isn't an issue for most users, but if you're trading a lot, you can split your report into smaller time frames to get around this.
If you’ve been wondering is Koinly a CoinJar tax calculator tool, the answer is, yes! As a CoinJar tax software, Koinly is able to a bunch of impressive tasks that save you time and can even save you from paying too much taxes. Not only can Koinly import CoinJar transaction history, but Koinly can also calculate your CoinJar taxes in a format that makes sense for your country’s tax office.
Koinly works as both a crypto tax calculator and a portfolio tracker. Once you've signed up and synced your wallets and exchanges, head to your Koinly dashboard. Here you can view every transaction you've made, across all wallets and exchanges, including your CoinJar trades, letting you track your crypto investments from one place.
Tax deadline on the horizon? Koinly makes it easy to fetch your tax report. Once you've imported your CoinJar transaction history, Koinly works its magic in the background to generate your crypto tax report. First, Koinly calculates the fair market value of all your cryptocurrency transactions in the currency of your choice, for example, AUD or GBP. After this, Koinly calculates your taxable position including your income, short and long term gains, losses and expenses. All this information is compiled into one simple tax summary on your tax report page.
Further down the same page, you'll find the option to download a range of different tax reports including your CoinJar transaction history, a Complete Ta Report, Income Report and more. Koinly also generates specific tax reports based on your location. For example, the IRS Schedule D Form for US investors.
After you've downloaded the right tax report for your country, all you need to do is file your taxes with your relevant tax office.
This process is a bit different in every country, but most tax authorities have an online portal where you can file annual tax reports.
Alternatively, if you're using an accountant, invite them to view your CoinJar tax information from your account settings.
Tax authorities worldwide are cracking down on crypto tax evasion. Notably, the IRS, ATO and HMRC have all put pressure on crypto exchanges to share customer data to ensure tax compliance and improve security.
As a larger crypto exchange, it is likely CoinJar have felt the pressure from tax authorities to share customer data. CoinJar is particularly popular in Australia and ATO have confirmed they match data from cryptocurrency designated service providers to individual tax returns.
The best way to ensure tax compliance is to report your crypto taxes accurately with cryptocurrency tax software.
Koinly is clever, but if there are issues with imported data, it won't be able to generate an accurate CoinJar tax report. This is why it's really important you check through your CoinJar transactions after you've imported them, to resolve any issues, so Koinly can generate an accurate tax report.
There are some simple steps you can follow to check your tax report.
All wallets, exchanges and blockchains
If you don't sync all your wallets and exchanges, Koinly can't identify when you're moving funds between them, which is tax free. Instead, it will think these transactions are deposits or withdrawals, which are taxable transactions. To avoid this, make sure all your exchanges and wallets are connected to Koinly.
Look out for big numbers
Once you're sure everything is connected, head into your transactions page. Filter by the type of transaction and check your withdrawals and deposits so you can spot any that you believe are actually transfers between wallets - learn how to fix this here.
Review the labels of your transactions
Take some time to review your transactions labels too. If you've used an API import, Koinly should be able to tag different types of transactions automatically. However, for CSV file imports, these tags aren't always included. Instead, you can do this manually in Koinly using labels.
Withdrawal Tags (sending funds):
Whenever you send funds, Koinly treats this as a disposal of asset by default. This makes withdrawal transactions subject to Capital Gains Tax. However, some withdrawals are tax free, depending on where you live. You can use withdrawal tags to label these.
Deposit Tags (receiving funds):
Deposits refer to anytime you receive new coins or tokens from any source. By default, all deposits in Koinly are treated as purchases at market price or investments. However, there are instances where new coins received are considered income and would be subject to Income Tax instead. Use deposit labels to tag these.
Exchange (trading funds):
Exchange refers to trading crypto for crypto, as well as buying or selling crypto for fiat. Koinly identifies these trades based on imported data and calculates taxes accordingly, but there is one label you might need for exchange transactions.
Our Getting Started Guide is a great place to learn more about how to use Koinly and how to resolve common issues.
Koinly's help section is packed full of common queries from our users and solutions from our customer support team, so you'll find lots of helpful advice there. Some of our most common CoinJar queries include:
You can find more advice in our help section, as well as in our Koinly community. Don't worry if you still can't find the answer you're looking for, get in touch with our customer support team who will be happy to help resolve your query.