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How to file your Polygon (MATIC) taxes with Koinly

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

Last updated: Monday, 30 January 2023

How to do your Polygon (MATIC)  taxes with Koinly 

Polygon is an Ethereum compatible, multi-chain blockchain ecosystem, with the native currency MATIC. Whatever your Polygon investments, Koinly can help with your Polygon taxes.

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

Watch how to do your Polygon taxes fast

How to find your Polygon (MATIC)  public address

To connect to Koinly, all you need is your Polygon public address for each wallet you use to interact with Polygon. The exact steps on how to get your public address vary a little depending on the wallet you’re using, but we’ve got instructions on how to get your public address for all the top Polygon wallets including:

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

And don't forget, in order for Koinly to calculate your crypto taxes correctly you’ll need to add your public address from every wallet you use to interact with Polygon.

How to connect Polygon to Koinly automatically

On Koinly

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

Important

You’ll need to get your Polygon public address from each wallet you use to interact with Polygon in order to calculate your crypto taxes correctly.

How to integrate Polygon with Koinly using CSV

If you prefer to use CSV files to integrate your Polygon wallets with Koinly, you can. Here's how.

How to download and export a Polygon CSV file

Depending on the Polygon wallet you’re using, you may be able to export a CSV file of your transaction history from your wallet. We’ve got instructions on how to get a CSV file from a number of crypto wallets on our integration pages.

Important

1. When downloading your CSV files, check that the file covers your full trading history.

2. Remember to download and upload CSV files for all your MATIC Wallets.

3. Don't forget to tag your transactions according to your country’s crypto tax rules. This will ensure that they show up correctly as income on your Polygon tax reports.

How do I troubleshoot my Polygon integration to Koinly?

Problems connecting Polygon and Koinly? No worries - we're here to help:

Calculate your Polygon taxes

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How is staking MATIC taxed?

Staking rewards tax varies depending on where you live, but - generally speaking - staking rewards are viewed as a kind of additional income and subject to Income Tax upon receipt. 

How are Polygon airdrops taxed?

Received an airdrop of MATIC tokens? Some tax offices - including the IRS - view this as additional income and subject airdrops to Income Tax upon receipt, as well as Capital Gains Tax upon disposal.

Do you have to pay tax on Polygon?

Yes. You need to pay tax whenever you have income or capital gains from your Polygon investments in pretty much every country in the world. Find out more in our crypto tax guides.

Can the IRS track Polygon?

Yes. The IRS can track Polygon. The majority of centralized crypto exchanges share KYC with the IRS and other tax authorities to ensure tax compliance.