How to do your INK taxes with Koinly
INK is Kraken's new EVM layer 2 network, built on Optimisim's superchain. But if you have transactions on the INK blockchain, you may have a tax bill. Koiinly can help, you just need to import your transaction data. Here's how.
Follow these steps to sync your INK data automatically to Koinly:
- Open your INK 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 INK 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
FAQs
What is INK?
Ink is a high-performance Layer 2 blockchain developed by Kraken, built on Optimism's Superchain to enhance DeFi protocols. It offers 1-second block times with plans for even faster speeds, significantly lower gas fees, and security backed by Kraken’s decade-long expertise. As part of the Superchain, Ink ensures seamless interoperability across blockchains while maintaining compatibility with Ethereum Virtual Machine (EVM), allowing developers to deploy Solidity contracts easily.
Is INK safe?
Ink is a highly secure blockchain backed by Kraken, a trusted exchange with a strong security track record. It benefits from sequencer-level protection to prevent exploits, inherits Ethereum’s security through Optimism’s Superchain, and supports EVM-compatible smart contracts, allowing for tested and reliable deployments.
Does INK provide tax documents?
No, but you can use a crypto tax calculator like Koinly to get your INK taxes calculated and your tax documents generated. Just add your INK address and Koinly will import your transaction data and generate your tax reports.
