How to file your JustLend taxes with Koinly
JustLend is a decentralized financial platform for the TRON blockchain that lets users earn yields, borrow crypto, stake, and more. Whatever your transactions, Koinly can help calculate taxes for hundreds of dApps including JustLend. Here's how.
Sign up to Koinly and choose your country and currency
Connect TRON with Koinly to import all your trades safely and securely
Koinly identifies the cost basis of your tokens and coins, as well as your taxable transactions
Koinly calculates any capital gains, losses, and income from your taxable transactions
Koinly generates your crypto tax report - ready to help you file with your tax office, or hand it over to your accountant.
How are TRON protocols taxed?
It all depends on the transactions you're making and where you live, but DeFi transactions may be subject to Income Tax or Capital Gains Tax. You'll generally pay Income Tax whenever you earn new tokens - like TRX staking rewards - while you'll pay Capital Gains Tax on any gain you make as a result of selling or trading crypto (even if that's for a liquidity token). Learn more in our DeFi tax guide.
Can the IRS track Tron DeFi investments?
Yes. The TRON blockchain is a public ledger. That means anyone can use a blockchain explorer to view transactions and other information including wallet addresses, transactions associated with a given wallet, wallet holdings, and more. All the IRS needs to do is link you to a given address.
Read next: Can the IRS track crypto?
How to get JustLend tax documents
You'll usually report income, gains, and losses from crypto - including from any JustLend transactions - as part of your annual tax return. This means you'll need to go through your transactions, identify which are taxable and the type of tax that applies, as well as calculate any gain, loss, or income from your investments, and include this information in your tax return.
It's a lot of work - which is why most investors use a crypto tax calculator like Koinly. Koinly can calculate your gains, losses, and income for more than 800 wallets, exchanges, and blockchains, including TRON and TRON dApps.
How to import JustLend transactions to Koinly automatically
To import your JustLend transactions into Koinly, you’ll need to connect any Tron wallet you use with JustLend to Koinly. This is easy to do, you just need your public address. We've got instructions on how to connect popular TRON wallets on our integration pages - but here's an example of how it generally works.
In your wallet
Open or log in to your wallet
Select the blockchain you'd like to connect to Koinly - in this example, TRON
Copy your public address
On Koinly
Sign up or log in to your Koinly account and go to the wallets page
Search for and select the blockchain you'd like to connect to - in this example, TRON
Give your wallet a name - for example - Ledger TRON
Paste your public address
Your frequently asked questions...
What is JustLend?
JustLend DAO is a decentralized financial services protocol for the TRON blockchain. It offers a number of investments including lending, borrowing, staking, and energy rental.
What are sTRX tokens?
sTRX tokens are tokens representing staked TRX. These tokens allow investors to stake TRX while still maintaining liquidity, enabling them to maximize yields.
Are JustLend transactions taxed?
Yes. You'll pay either Income Tax or Capital Gains Tax on JustLend transactions depending on the rules in your country and your specific transactions on JustLend.
