How to file your Immutable X taxes with Koinly
Immutable X functions as a layer-2 scaling solution, establishing an NFT infrastructure atop the Ethereum blockchain. Dedicated to fueling the evolution of Web3 gaming, Immutable X endeavors to enhance user and developer experiences by delivering smooth gameplay, rapid transaction processing, and eco-friendly NFT minting devoid of gas fees. But your gaming transactions might come with a tax bill. Whatever your investments, Koinly can help.
Follow these steps to sync your Immutable X (IMX) data automatically to Koinly:
- Open your Immutable X (IMX) 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 Immutable X (IMX) 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
How do I file my Immutable X 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 Immutable X provide tax documents?
No. Immutable X does not provide tax documents. The simplest way to get the tax information you need for Immutable X is to import your transactions to a crypto tax calculator like Koinly.
How do I get tax reports and forms from Immutable X?
The easiest way to get Immutable X tax information is to import your transaction data to Koinly. You can do this by adding your Immutable X address to Koinly, which will then automatically import your transaction data and calculate your gains, losses, income and more.
Does Immutable X provide financial or end of year statements?
No. Immutable X does not provide financial or end-of-year statements.
