How to do your Exodus taxes with KoinlyÂ
Exodus crypto wallet offers investors a secure hot wallet, ideal for trading assets you're looking to invest short term. The wallet integrates with the exchange platform Shapeshift, which makes trading crypto for crypto fast and simple. Koinly can help you do your Exodus taxes safely, quickly, and accurately.Â
- Sign up to Koinly and choose your country and currency
- Connect Exodus with Koinly to import all your Exodus trades safely and securely
- Koinly categorizes Exodus transactions into gains, losses and income
- Koinly calculates your Exodus Capital Gains Tax and Exodus Income Tax
- Download your Exodus tax report from Koinly
- File your Exodus taxes online or with your crypto tax accountant
Watch how to do your Exodus taxes fastÂ
Does Exodus report to the IRS?
It’s unlikely Exodus reports to the IRS. Exodus doesn’t require users to complete KYC verification - so you might assume there’s no way the IRS can track your crypto assets and transactions in Exodus. Exodus also doesn’t require you to link a bank card to make deposits and withdrawals.
How to connect Koinly and Exodus via API
You'll need to connect each coin and corresponding blockchain separately. There are a few different steps you can follow to do this depending on the coin you're using. Follow the steps below:
On Exodus
- Log in to Exodus.
- Select the coin you want to import - for example ETH.
- Select receive.
- Copy the public address.
Some other blockchains like BTC, BCH and DOGE may need an xpub key instead. We’ll use Bitcoin as an example for our instructions on how to find your xpub key in Exodus.
- Log in to Exodus.
- Scroll down Bitcoin and select that coin.
- Click on the three dots in the right corner.
- Select export xpub - this will create a TXT document on your desktop.
- Go into the downloaded file and find the xpub file - this will be called something like exodus-bitcoin-xpub.
- Copy the xpub key from the file.
On Koinly
- Sign up or log in to your Koinly account and go to the wallets page.
- Select add new wallet: Exodus.
- Select set up auto-sync.
- Select connect blockchains.
- Select the blockchain you'd like to connect - for example, Ethereum. You'll need to repeat these steps for each coin on each different blockchain.
- Paste the copied key or address into Koinly.
- Select secure import.
Important
If you can't find your coin in the list of blockchains - it means Koinly doesn't support that coin just yet. Please let us know if this is the case as we're always adding support for new coins for our users. You should be able to find the public key you need on Exodus by following either of the steps above for other coins.
How to integrate Exodus with Koinly using CSV
You'll need to start by downloading a CSV file with your full trading history from Exodus before you can upload it to Koinly - here's how.
How to download and export your transaction history CSV file from Exodus
- Log in to Exodus.
- In the top right corner, select the history symbol.
- In the top right, select the three dots.
- Select export all transactions.
How to upload your Exodus CSV to Koinly
- Sign up or log in to your Koinly account and go to the wallets page.
- Select add new wallet:Â Exodus.
- Select import from file.
- Upload your CSV file.
How do I troubleshoot my Exodus integration to Koinly?
If something looks strange with your Exodus data import - don't worry, there's lots of help available:
- 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 or Reddit
- Contact us on email or live chat
- Got a feature request? Give us feedback on Canny
Calculate your Exodus taxes
Sign up free today to calculate your Exodus taxes.
Does Exodus provide documents?
No - like most crypto wallets, Exodus doesn’t supply a tax report for users. You’ll need to use either a crypto tax app to generate your Exodus tax report, or export your Exodus transaction history and calculate your crypto taxes yourself.
How do I get Exodus tax documents?
The easiest way to get your Exodus tax documents is to connect to crypto tax software. You can easily connect via API or by uploading a CSV file of your Exodus transaction history. Your crypto tax calculator will then generate your Exodus tax documents.
Does Exodus provide financial or end of year statements?
No, Exodus doesn't supply a financial statement. But you can use your Exodus transaction history to create a financial statement to use when filing your crypto taxes. Once you've got your Exodus transaction history - you can calculate your crypto taxes manually or get a crypto tax app to do it for you.
Do I have to pay taxes on Exodus?
Yes - if you have capital gains or income as a result of your crypto investment activities on Exodus, you'll need to report these to your tax office and pay taxes on them. Don’t be tempted to avoid crypto taxes. The penalties for tax evasion are steep and you may face fines or even jail time.
Is Exodus Wallet safe?
Yes. Exodus is a secure, non-custodial wallet. However, it is a hot wallet so you should always follow best security practices and store any long-term holdings in a cold wallet.