Connect KuCoin Futures to Koinly in minutes! Follow our step by step instructions and get your KuCoin Futures taxes done fast!
KuCoin Futures is an advanced crypto trading platform offering crypto derivatives and more. Whatever your crypto investments, figuring out your KuCoin Futures taxes and creating your tax report couldn't be easier if you connect KuCoin Futures with Koinly.
You might be wondering, does KuCoin Futures provide CSV tax and trade history reports? Is it even possible to get tax info and statements from KuCoin Futures? What about a KuCoin Futures API? The good news is, while KuCoin Futures might not provide tax forms and documents, KuCoin Futures does offer 2 easy ways to export your transaction and trade history!
KuCoin Futures pairs with Koinly through API or CSV file import to make reporting your crypto taxes easy. Once connected, Koinly becomes the ultimate KuCoin Futures tax tool. How? Koinly will calculate your KuCoin Futures taxes based on your location AND generate your EOFY tax report, all within 20 minutes! All you’ll need to do at tax time is download your KuCoin Futures tax statement from Koinly and file it with your local tax authority. Done!
Good to know
Please note your KuCoin API will only import your KuCoin Futures transaction data. If you've been using KuCoin exchange for other transactions - please connect your KuCoin account via API as well. See how here.
Good to know
KuCoin offers a few different CSV formats for exporting your transaction history - but Koinly only supports the PnL format.
We recommend checking through your imported transactions on Koinly to see if everything is imported, and that your transactions are correctly labelled.
Koinly’s crypto tax software is smart, but incorrectly imported data can cause issues.
Checking your transactions and correcting any inaccuracies lets Koinly calculate and generate the most accurate tax reports for you.
There are a few simple steps you can follow to make sure your tax report is accurate:
Start by making sure all your wallets and exchange accounts are synced with Koinly. This lets Koinly identify which transactions are transfers and which are deposits or withdrawals.
Now, head to your transactions page in Koinly and take a little time to ensure they're all correct. You can filter by the type of transaction as well as by the amount to identify and amend any transactions that you believe to be incorrect. For example, large withdrawals or deposits that are actually transfers between wallets is an easy fix.
Finally, review the labels on your transactions. Koinly will normally do this automatically, but there are some instances when transactions like rewards or mining income aren't marked in the imported data. It's always good to double check your transactions and use any of the following labels.
Withdrawals refer to sending coins, tokens and funds. Koinly sees these as a disposal of an asset, which makes the transaction subject to Capital Gains Tax in most countries. But, some withdrawals are tax free and you should label these using withdrawal tags.
Deposits refer to receiving new coins. Koinly sees deposits as a purchase at market price or an investment. They can be subject to Income Tax or Capital Gains Tax, depending on your location and the type of deposit. Check the labels to make sure the right tax is applied.
Trading crypto for crypto, buying crypto with fiat and selling crypto for fiat are exchanges. Trades are sometimes taxed (depending on where you live), buys are never taxed and sells are always taxed. Koinly calculates all this on your behalf, so there's only one exchange tag you may need.
We have a whole support section devoted to answering your most common - and not so common questions about our KuCoin Futures integration. To give you a jumpstart, here are some of the questions we get asked most:
See all our KuCoin Futures and Koinly help content here and feel free to jump on our chat if you need a little more assistance.