How to file your Lukso taxes with Koinly
Lukso is a layer 1 EVM blockchain aiming to revolutionize the creative economy for the fashion and lifestyle industries. But if you have LYX transactions, you might have a tax bill. Don't worry, Koinly can help. Here's how.
Follow these steps to sync your Lukso (LYX) data automatically to Koinly:
- Open your Lukso (LYX) 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 Lukso (LYX) 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
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FAQs
What is Lukso?
The LUKSO Blockchain is a specialized network designed for creative industries like fashion, digital art, gaming, and social media, co-founded by Fabian Vogelsteller, creator of Ethereum's ERC-20 and ERC-725 standards. It introduces innovative features such as Universal Profiles for managing digital identities and assets, advanced token standards, and a proof-of-stake consensus for scalability and energy efficiency. LUKSO empowers industries with tools for authenticating products, managing NFTs, and enabling decentralized applications, while its native token, LYX, facilitates transactions, staking, and governance.
Do I have to pay tax on my Lukso transactions?
Yes, income and capital gains from cryptocurrency are typically subject to Capital Gains Tax or Income Tax, depending on your location and the nature of your transactions. For more information, refer to our crypto tax guides.
How do I calculate my Lukso taxes?
The simplest way to calculate your Lukso taxes is by using Koinly. Simply add your address, and Koinly will automatically import your Lukso transaction data and handle the calculations for you.
