Generating Your Independent Reserve Taxes
Quickly calculate your independent reserve taxes and create the appropriate tax documents to submit to your tax authority. Koinly supports Independent Reserve and makes tax reporting a piece of cake.
Here's what you should do
The first - and in most cases the only - step is to download all your data from independent reserve and import them to Koinly. There are a few ways you can do this:
As Independent Reserve has an API, the easiest way to do so is to just add your read-only API keys (api key, api secret). Then Koinly will download your transaction data automatically and you are ready to create a tax report.
If you don't have access to your API keys you can also import transactions by importing CSV files.
If the above method(s) are not possible for you, you can even add the transactions one by one via Koinly's web interface.
If you decide to use CSV files, you need to make sure to import your deposits/withdrawals and trades for ALL previous years !
That's all you have to do. Don't forget to tag your airdrops/forks so they appear as Income on your final crypto tax documents!
Importing Independent Reserve transactions automatically via API
Follow these steps to get your API keys:
- Open Independent Reserve
- Create a new key by clicking on the generate button; do not check allow this api to withdraw
- Copy the API Key and API Secret
Importing Independent Reserve transactions manually via CSV files
Follow these steps to download your transaction files:
- Sign into your Independent Reserve Account
- Go to your order history and download the csv file
- Go to transactions history and download transaction history for all assets
- NOTEIndependent Reserve exports csv files in your local timezone so you must set the correct timezone when importing into Koinly! Usually the Pacific/Fiji timezone works best. Click on More Options to show the timezone selector.
- Upload the downloaded files to Koinly