How to do your IOTA taxes with Koinly
The new IOTA rebased network went live in May 2025, bringing significant changes to the protocol. Koinly supports the new IOTA network, allowing you to easily import your transaction history and calculate your IOTA taxes. Here's how it works.
Follow these steps to sync your IOTA data automatically to Koinly:
- Open your IOTA 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 IOTA 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
Koinly continues to support the MIOTA legacy integration and the separate IOTA EVM integration.
FAQs
What is IOTA?
IOTA’s Rebased upgrade, launched on May 5, 2025, represents a significant shift for the platform, emphasizing full decentralization through the adoption of Delegated Proof-of-Stake (DPoS) and removing the Coordinator. The upgrade integrates MoveVM for Layer-1 smart contracts, enabling developers to create decentralized applications directly on IOTA’s base layer. Enhanced scalability and performance are achieved through the Mysticeti consensus protocol, supporting over 50,000 transactions per second with sub-second finality. The upgrade also introduces staking rewards, a deflationary token model via transaction fee burning, and transitions users to a new browser-based wallet. Additionally, the IOTA Gas Station allows developers to sponsor transaction fees, improving the user experience and fostering broader adoption.
Is IOTA safe?
IOTA’s Rebased upgrade introduces significant improvements in decentralization, scalability, and functionality, aimed at making the network safer and more user-friendly. By transitioning to a Delegated Proof-of-Stake (DPoS) system, removing the Coordinator, and adding support for Layer-1 smart contracts through the MoveVM, the upgrade reduces centralization risks and enhances transaction efficiency. However, with new features come potential vulnerabilities, such as untested smart contract code and user risks from transitioning to a new wallet system. While designed to be safer, no system is fully risk-free, and users should remain vigilant and adopt best security practices.
Does IOTA provide tax documents?
No, but you can use a crypto tax tool like Koinly to calculate your tax obligations from IOTA rebase transactions and create detailed tax reports. Just add your IOTA wallet address, and Koinly will automatically pull in your transaction history to calculate your gains, losses, income, and more.
