How to file your DefiChain (DFI) taxes with Koinly
DefiChain is a decentralized blockchain aiming to bring DeFi services to the Bitcoin ecosystem. Whatever your investments, Koinly can help with your DefiChain taxes.
Follow these steps to sync your DeFiChain (DFI) data automatically to Koinly:
- Open your DeFiChain (DFI) wallet app
- Locate and copy your public address or key
- Create a free account on Koinly
- Complete onboarding until you get to the Wallets page and find DeFiChain (DFI) 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!
- This integration is currently in BETA version! Please review your transactions carefully.
- This integration will only import transaction for the DFI coin. Other tokens and transactions will need to be added manually at this time
How do I file my DefiChain taxes?
You'll need to calculate and report any income or capital gains you made with your tax office. For most people, this happens as part of your annual tax return.
There are a couple of ways you can do this - do it yourself, by identifying your taxable transactions, calculating your net capital gain or loss, and the fair market value of any crypto income.
Or, use a crypto tax calculator like Koinly to easily calculate your taxable income for you, and generate your crypto tax report, ready to file with your tax office.
Koinly works by importing your crypto transaction data to analyze what's taxable, and what's not.
Koinly lets you manage all your crypto transactions - from all the blockchains, wallets, and exchanges you use - from one single platform, making crypto tax simple.
Your frequently asked questions
Does DefiChain provide tax documents?
No, DeFiChain does not provide tax documents, but you can connect to a crypto tax calculator like Koinly to retrieve your transaction data for accounting and tax purposes.
How do I get tax reports and forms from DefiChain?
The easiest way to get a DefiChain tax report is to connect to Koinly using your public address. Once you've added your DefiChain public address to Koinly, it can automatically import your transaction data and calculate your gains, losses, income, and more.
Does DefiChain provide financial or end of year statements?
No. DefiChain does not provide financial or end-of-year statements.