How to do your ShimmerEVM (SMR) taxes with Koinly
ShimmerEVM is a fast, ready-to-use smart contract chain built on Shimmer. It serves as a universal bridge, enabling seamless and feeless value transfers between different smart contract chains. But if you're transacting with SMR, you might have a tax bill. Fortunately, Koinly can help, here's how.
FAQs
What is ShimmerEVM?
ShimmerEVM is a fast, easy-to-use smart contract chain running on Shimmer. It acts as a universal bridge for dynamic and feeless value transfers between various smart contract chains, letting users build and deploy applications with ease, seamlessly connecting with Shimmer or any chain linked to it.
What are SMR tokens?
SMR tokens are the native token of the Shimmer and ShimmerEVM networks.
How do ShimmerEVM taxes work?
Crypto - including your SMR tokens - is taxed. The precise tax you'll pay depends on where you live and the rules of your tax office. But generally speaking, you'll pay either Capital Gains or Income Tax on your crypto. Learn more in our crypto tax guides.
How do I calculate ShimmerEVM taxes?
The easiest way to calculate your ShimmerEVM taxes is with a crypto tax calculator like Koinly. With Koinly, all you need is your public address and it can automatically import your transaction history via a read-only API. It can then use your transaction history to calculate your gains, losses, income, and more.
