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How To File Your Phantom Taxes With Koinly

Phantom pairs perfectly with Koinly to make crypto tax easy! 🤝Sync Phantom with Koinly to calculate your crypto taxes fast. ⚡ Connect in minutes! 🖱️

Last updated: Monday, 30 January 2023

How to do your Phantom taxes with Koinly 

Phantom is a Solana web wallet that lets investors store, buy, trade, send and receive Solana tokens and NFTs. Built for DeFi investments, Phantom has become one of the most popular Solana wallets going. Koinly can help you do your Phantom  taxes safely, quickly, and accurately. 

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

Watch how to do your Phantom taxes fast

How to connect Phantom to Koinly via API

On Phantom

  1. Open your Phantom browser extension or mobile app.
  2. At the top of the app, select your wallet name to copy your public address.

On Koinly

  1. Log in to Koinly and go to the wallets page.
  2. Select add new wallet.
  3. Search for Phantom.
  4. Select set up auto sync.
  5. Search Solana.
  6. Select Solana (SOL).
  7. Paste your Phantom wallet address.
  8. Select import.

Important
Please note, if you've created multiple wallets within Phantom, you'll need to add the wallet address for each of these to Koinly in order to import all your transaction data. This is easy to do, just click the three line icon in the top left corner and switch between the wallets you'd like to connect with Koinly and repeat the steps above for each address.

How to download and export your transaction history CSV file from Phantom

Unfortunately, Phantom Wallet doesn't offer a simple export CSV option just yet, which is why we recommend using the API method above in most instances. However, you can get a CSV file either by creating a custom CSV file or by using a Solana blockchain explorer with an export CSV option. Once you've got your CSV file, here's how to upload it.

How to upload your Phantom CSV to Koinly

  1. Sign up or login into Koinly and head to the wallets page.
  2. Add a new wallet: Phantom.
  3. Select import from file.
  4. Upload your CSV file(s).

Important

 If you're using a CSV file, make sure your transactions are tagged correctly in Koinly according to your country's tax rules.

How do I troubleshoot my Phantom integration to Koinly?

Need help connecting Phantom and Koinly? No worries, there's plenty available:

Calculate your Phantom taxes

Sign up free today to calculate your Phantom Wallet taxes.

Does Phantom provide Phantom Wallet tax reporting or documents?

No, Phantom does not provide a tax report. However, they can provide you with your transaction history, which can be used as a means of calculating and reporting all taxes.

How do I get Phantom tax documents?

The easiest way to get your Phantom tax documents is to connect to crypto tax software via automatically using your public address. Your crypto tax calculator will then calculate your Phantom taxes for you and generate your Phantom tax documents.

Do you get a 1099 from Phantom?

As a non-custodial wallet - Phantom doesn’t collect user data, so it’s unlikely you’ll be getting a 1099 form from Phantom, which means the IRS won’t either.

Does Phantom provide financial or end of year statements?

No, Phantom does not provide a financial report. You can, however, create a financial statement using your Phantom wallet transaction history, or a crypto tax app.

Do I have to pay taxes on Phantom?

Yes - if you have capital gains or income as a result of your crypto investment activities on Phantom, you'll need to report these to your tax office and pay taxes on them. If you're tempted to try and avoid crypto taxes, think again - the penalties for tax evasion are steep and you may face fines or even jail time.