How to do your Ledger taxes
Whichever Ledger device you're using, it's easy to do your Ledger taxes with Koinly. Just import your transaction data, and Koinly will calculate your Ledger taxes for you and generate your Ledger tax report.
Follow these steps to sync your Ledger data automatically to Koinly:
- Open your Ledger wallet app
- Copy the public address for every coin that you have on it (even the ones with a zero balance)
On Koinly:
- Create a free account on Koinly
- Complete onboarding until you get to the Wallets page and find Ledger 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
Do you have to file taxes on Ledger?
Yes. You'll need to report any capital gains, losses, or income from your Ledger transactions to your tax office.
How are Ledger transactions taxed?
Crypto may be subject to Capital Gains Tax or Income Tax, although it depends on where you live and your specific transactions. Here's how your Ledger transactions might be taxed:
Capital Gains Tax: When you dispose of crypto and make a profit, you have a capital gain, and Capital Gains Tax may apply. Disposals of crypto include selling, trading, spending, and sometimes gifting crypto.
Income Tax: When you earn new tokens, for example, staking or mining rewards, this may be categorized as additional income, and Income Tax may apply upon receipt.
Is moving crypto to Ledger a taxable event?
No, moving crypto to or from your Ledger wallet isn't taxable. However, in some countries, your related transfer fees may be categorized as a taxable disposal. You can learn more in our guide to transfer fees tax.
Does Ledger report to tax offices?
Ledger does not collect KYC information for investors using the hardware wallet. However, it does collect KYC information from customers who trade using Ledger Live. Depending on your location, Ledger may have had this information requested by your tax office. You can learn more in our guide: Does Ledger report to the IRS?
Does Ledger send tax forms?
No. Ledger does not issue tax forms for users. Ledger is a self-custody wallet that millions of people use globally, so it doesn’t generate tax forms directly. However, you can easily get your tax reports by connecting your Ledger account to a crypto tax calculator like Koinly.
How do I get Ledger tax forms?
To include your Ledger crypto activity in your annual tax return, you’ll need to calculate and report any income, capital gains, or losses you incurred throughout the year. There are two ways to do this:
Manually identify your taxable transactions, calculate your net capital gain or loss, and determine the fair market value of any crypto income.
Use a crypto tax calculator like Koinly to do it for you.
With Koinly, all you need to do is automatically import your Ledger transaction data via API and it'll identify your taxable transactions and calculate your gains, losses, income, and more.
FAQs
Can I get a Ledger Live tax report?
No, Ledger doesn’t provide tax reports. Instead, they can provide details about your transaction history which can be used by crypto tax software to calculate and report taxes.
Does Ledger supply a financial statement?
No, Ledger doesn’t supply a financial statement. However, with your Ledger transaction history, you can generate a financial statement that can be used for tax reporting.
Does Ledger report to other tax authorities?
Ledger is a hardware wallet mostly used for holding crypto. As such, it’s very unlikely Ledger reports to any tax offices directly as they have minimal information to share.
Do you pay taxes on Ledger transactions?
You may have taxable Ledger transactions. If you trade or sell crypto using Ledger Live, then any gains you make are likely subject to Capital Gains Tax.
Do I have to report Ledger transactions if I didn't sell?
If you simply use your Ledger wallet to hodl crypto long-term securely, this is not taxable in most countries (excluding countries with a Wealth Tax) and you usually don't need to report this to your tax office.
