How to do your MetaMask taxes with Koinly
MetaMask is a popular in-browser wallet for crypto investors looking to buy, store, send and swap on the Ethereum blockchain. It's also an option for those interested in investing in DeFi and exploring DApps and has attracted more than 5 million users. Whatever your MetaMask investments, Koinly can help with your taxes.
- Sign up to Koinly and choose your country and currency
- Connect MetaMask with Koinly to import all your MetaMask trades safely and securely
- Koinly categorizes MetaMask transactions into gains, losses and income
- Koinly calculates your MetaMask Capital Gains Tax and MetaMask income tax
- Download your MetaMask tax report from Koinly
- File your MetaMask taxes online or with your crypto tax accountant.
Watch how to do your MetaMask taxes fast
How to connect Koinly and MetaMask automatically
The best way to integrate MetaMask with your Koinly account is using the MetaMask browser extension. This is available on Chrome, FireFox and Brave. You can install the MetaMask browser extension on any of these browsers and we highly recommend doing this before you follow our API steps below.
On Koinly
- Sign up or log in to your Koinly account and go to the wallets page.
- Select add new wallet: MetaMask.
- Select set up auto-sync.
In Browser:
- Select the MetaMask extension icon in the top right corner of your browser.
- From the drop down tab at the top, find the Ethereum Mainnet option.
- Under the account name, copy the public address.
Back to Koinly:
- Paste the public address into the public address or key box.
- Select secure import.
Syncing other networks
Syncing your MetaMask wallet will sync all of your Ethereum transactions. To connect to other networks like Binance Smart Chain or Polygon, you'll need to create separate wallets for these networks in Koinly. You can do this by logging into your Koinly account and going to wallets. Instead of connecting MetaMask, find the network you want to connect, for example Polygon or Binance Smart Chain. Then find the public address for these networks in your MetaMask browser extension and copy and paste these into Koinly to import.
Important
1. Auto-syncing your MetaMask data takes a couple of minutes on Koinly. This is normal, Koinly is just working through your transactions to identify which are taxable events and which aren't.
2. Once your data is imported, you might notice a small yellow warning icon next to your MetaMask wallet. This icon indicates an issue with imported data, click on it to find out the precise issue. You can learn more about how to resolve this in this guide.
3. MetaMask doesn't give the option to export CSV files, although you can use some third-party providers to export CSV data directly from the ETH blockchain.
4. Please note, Koinly does not automatically handle Uniswap V3 liquidity transactions like V2 liquidity transactions. Read more in our guide on Uniswap taxes here.
5. Some users may need to tag certain transactions themselves - in particular, staking and farming transactions. Find out more about how to tag staking transactions and farming transactions.
How do I troubleshoot my MetaMask integration to Koinly?
Something not working with your MetaMask data import? There’s plenty of help available:
- 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 or Reddit
- Contact us on email or live chat
- Got a feature request? Give us feedback on Canny
Calculate your MetaMask taxes
Sign up free today to calculate your MetaMask taxes.
Does MetaMask provide a tax report?
No, MetaMask doesn't provide a tax report. But you can use your MetaMask transaction history to calculate your crypto taxes and create a crypto tax report.
Does MetaMask supply a financial statement?
No, MetaMask doesn't supply a financial statement. But you can use your MetaMask transaction history to create a financial statement to use in your tax report.
Can I export a MetaMask CSV file?
MetaMask doesn't offer this option within their own platform - but you can use a third party site to get your CSV file.
How to report MetaMask taxes
How you’ll report your MetaMask taxes depends on where you live - but generally your tax office wants you to report any gains, losses or income as part of your annual tax return using the appropriate tax forms.
Is MetaMask safe?
Yes. MetaMask is a secure wallet - however, your wallet is only as secure as you are, so always follow best practices for crypto storage.
Who owns MetaMask?
MetaMask is developed by ConsenSys Software Incorporated. The company is well-known for a variety of Ethereum-based tools and infrastructure developments.
What's the best tax software for MetaMask?
We might be biased - but Koinly lets you automatically import all your MetaMask transactions, including DeFi transactions and calculates your tax liability for you. Not convinced? Check out our 800+Â five star Trustpilot reviews.
How do I add Binance Smart Chain to MetaMask?
MetaMask supports multiple blockchains - including Binance Smart Chain! Here's how to add BNB Smart Chain to MetaMask:
1. Log into your MetaMask wallet and select settings
2. Go to networks and select add network
3. Select Smart Chain Mainnet
4. Enter the following information into the relevant fields:
- Network Name: Smart Chain
- New RPC URL: https://bsc-dataseed.binance.org/
- ChainID: 56
- Symbol: BNB
- Block Explorer URL: https://bscscan.com
5. Select save
6. You'll return to your wallet dashboard and you should be able to select Binance Smart Chain from your networks