How to file your Spectrocoin taxes with Koinly
Founded in 2013, Spectrocoin now serves more than one million crypto investors around the world, letting users buy, sell, and trade more than 50 cryptocurrencies, as well as take out crypto-backed loans and use crypto to spend with the Spectrocoin card. Whatever your investments, Koinly can help with your Spectrocoin taxes.
Follow these steps to download your Spectrocoin data:
- Log in to your Spectrocoin account
- Go to the transactions history page
- Export/download your transaction history for ALL years of trading (check with their support if you can't find this)
- Manually check that the file contains all your deposits, withdrawals and trades
On Koinly:
- Create a free account on Koinly
- Complete onboarding until you get to the Wallets page and find Spectrocoin in the list
- Click on it and select "File import" in the import options screen
- Upload the files you downloaded from Spectrocoin (one at a time) and click on Import
- Review your transactions on the Transactions page to ensure everything is tagged correctly and no missing data
- Go to the Tax Reports page to view your tax liability!
- 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 and Reddit
- Contact us on email or live chat
- Got a feature request? Give us feedback on Canny
How do I file my Spectrocoin taxes?
You'll need to calculate and report any income or capital gains you made with your tax office. For most people, this happens as part of your annual tax return.
There are a couple of ways you can do this - do it yourself, by identifying your taxable transactions, calculating your net capital gain or loss, and the fair market value of any crypto income.
Or, use a crypto tax calculator like Koinly to easily calculate your taxable income for you, and generate your crypto tax report, ready to file with your tax office.
Koinly works by importing your crypto transaction data to analyze what's taxable, and what's not.
Koinly lets you manage all your crypto transactions - from all the blockchains, wallets, and exchanges you use - from one single platform, making crypto tax simple.
Your frequently asked questions
Does Spectrocoin provide tax documents?
No. Spectrocoin does not issue tax documents, but that doesn't mean your investments are tax free. It is your responsibility to identify any taxable transactions and settle any tax liability that arises as a result of your Spectrocoin investments.
How do I get tax reports and forms from Spectrocoin?
The easiest way to get a Spectrocoin tax report is to use a crypto tax tool like Koinly. All you need to do with Koinly is upload your Spectrocoin transaction history CSV file and Koinly will then identify your taxable transactions and calculate your gains, losses, income, and more.
Does Spectrocoin provide financial or end of year statements?
No. Spectrocoin does not provide users with financial or end-of-year statements, but you can export your Spectrocoin transaction history for accounting and tax purposes.
