Terra 2.0

How to File Your Terra 2.0 (LUNA) Taxes with Koinly

Terra 2.0 (LUNA) pairs perfectly with Koinly to make crypto tax easy! 🤝 Connect Terra 2.0 to Koinly to quickly calculate your taxes. ⚡ Just follow a few simple steps! 🖱️

Last updated: Monday, 5 December 2022

How to do your Terra 2.0 (LUNA) taxes with Koinly

Terra 2.0 is a fork of the original Terra blockchain (now Luna Classic (LUNC), and 100% community owned. Whatever your Terra 2.0 investments, Koinly can help with your crypto taxes.

  1. Sign up to Koinly and choose your country and currency
  2. Safely connect Koinly to the Terra 2.0 blockchain via your public address or a CSV file
  3. Koinly categorizes Terra 2.0 transactions into gains, losses and income
  4. Koinly calculates your LUNA Capital Gains Tax and LUNA Income Tax
  5. Download your Terra 2.0 tax report from Koinly
  6. File online or with your crypto tax accountant

How to find your Terra 2.0 public address

To connect to Koinly automatically, you'll need your Terra 2.0 public address, for each wallet you use to interact with the Terra 2.0 blockchain. It's easy to find your public address, and we've got instructions on how to get it for all the most popular LUNA wallets, including:

Don't see your wallet? You'll find easy to follow steps on how to get your LUNA public address from hundreds of wallets here.

Please note: Koinly needs your complete Terra 2.0 transaction history in order to calculate your crypto taxes correctly, so you’ll need to add your public address from every wallet you use to interact with Terra 2.0 .

How to connect Terra 2.0 to Koinly via API

On Koinly

  1. Sign up or login into Koinly and head to the wallets page.
  2. Select add new wallet in the top right corner.
  3. In the search bar, search for Terra 2.0.
  4. Select Terra 2.0 (LUNA).
  5. Enter your Terra 2.0 public address.
  6. Select import.

Important

1. If you have taxable transactions on the Terra Classic blockchain, you'll need to report these to your tax office too. Find out more here.

2. The API import may take a few minutes which is normal.

How do I troubleshoot my Terra 2.0 integration to Koinly?

Something not working with your Terra 2.0 data import? No worries - there's help at hand:

Calculate your Terra 2.0 taxes

Sign up free today to calculate your Terra 2.0 taxes

How do I get a Terra 2.0 tax report?

The easiest way to get a Terra 2.0 tax report is to connect Koinly to Terra 2.0 using your public address. The API will then automatically return your Terra 2.0 transaction history, calculate your taxes and generate your crypto tax report.

Do you pay taxes on staking LUNA?

Yes. In most countries, staking rewards are seen as a kind of additional income and subject to Income Tax upon receipt, as well as Capital Gains Tax upon disposal.

How is staking LUNA taxed?

The tax you'll pay on your LUNA staking rewards depends on where you live and how your tax office views your staking rewards, but in most countries, staking rewards are viewed as additional income.

How are LUNA liquidity pool tokens taxed?

DeFi taxes vary depending on where you live. But generally speaking, if you're trading capital for LP tokens (and vice versa), this will often be viewed as a crypto to crypto trade and subject to Capital Gains Tax.

How do I report LUNA staking rewards?

How you report your LUNA staking rewards varies depending on where you live, but it's usually as part of your annual tax return. You'll need to identify the fair market value of any LUNA tokens on the day you received them in your fiat currency and report this to your tax office.

How are Terra LUNA 2.0 airdrops taxed?

Tax on airdrops depends on where you live and your tax office. For example, the IRS views airdrops (including from hard forks) as additional income and subjects them to Income Tax.