How to file your Opera Wallet taxes with Koinly

How to do your Opera Wallet taxes with Koinly 

Opera Crypto Browser launched in January 2022 with a crypto wallet built-in, allowing users to connect to Ethereum and Ethereum Layer 2 blockchains, and more, to buy, sell and trade crypto and NFTs seamlessly. Opera is now partnered with Koinly, allowing you to track and manage your crypto portfolio and taxes, including your Opera Wallet investments. Here’s how it works.

1. Sign up to Koinly and choose your country and currency
2. Connect Opera Wallet with Koinly automatically to import all your Opera Wallet trades safely and securely
3. Koinly categorizes Opera Wallet transactions into gains, losses and income
4. Koinly calculates your Opera Wallet Capital Gain Tax and Opera Wallet Income Tax
5. Download your Opera Wallet tax report from Koinly
6. File your Opera Wallet taxes online or with your crypto tax accountant

How are Opera Wallet transactions taxed?

Your crypto taxes vary depending on where you live and your transactions, but generally speaking you’ll pay Capital Gains Tax or Income Tax (or both).

• Capital Gains Tax:  Whenever you sell or swap crypto using Opera Wallet - whether that’s coins, tokens, stablecoins or NFTs - if you make a gain from the transaction, you’ll likely pay Capital Gains Tax on that gain.
• Income Tax: Meanwhile, if you earn new tokens and receive them in your Opera Wallet - for example staking or yield farming rewards - you’ll likely pay Income Tax upon receipt. 

Learn more in our country crypto tax guides.

Does Opera Wallet report to the IRS?

No. Opera Wallet is a built-in non-custodial wallet that collects no KYC data and does not report to the IRS.

How do I file my Opera Wallet taxes?

You need to report any gains, losses or income from crypto investments to your tax office, generally as part of your annual tax return, including any taxable gains or income from your Opera Wallet investments.

You can do this yourself - but it’s difficult! You’ll need to identify all your taxable transactions, not just for Opera Wallet, but for every wallet and exchange you use, then identify the kind of tax that applies and calculate your gains and losses, as well as any income. 

This is why most investors opt to use crypto tax software like Koinly. Koinly does all this for you and generates your tax report, ready to file with your tax office. Koinly works by importing your Opera Wallet transaction data, all you need to do is connect using your public address. Here’s how it works. 

How to connect Koinly and Opera Wallet automatically

You'll need to connect each blockchain/coin you interact with via Opera Wallet to Koinly individually via your public address. This is easy to do, you just need to get the public address for each blockchain from Opera Wallet. Here's how.

On Opera Wallet

1. Open your Opera Wallet app
2. Select the blockchain you want to connect - for example, Ethereum
3. Select receive
4. Copy the public address

On Koinly

1. Sign up or log in to your Koinly account
2. Head to the wallets page
3. Select add new wallet: Opera Wallet
4. Select set up auto-sync
5. Click connect blockchain
6. Search for and select the blockchain you want to connect - for example, Ethereum
7. Paste your public address
8. Select import

Please note, there are some blockchains - like Bitcoin -  where you'll need your xpub key instead. See our guide on exporting your xpub key.

How do I troubleshoot my Opera Wallet integration to Koinly?

Problems connecting Opera Wallet and Koinly? No worries - there's help at hand:

• 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 by email or live chat
• Got a feature request? Give us feedback on Canny