How to file your Talisman taxes with Koinly
Talisman is a popular non-custodial wallet for the Polkadot blockchain, that allows investors to interact with web3 applications and dApps in the Polkadot ecosystem. Whatever your investments, Koinly can help with your Talisman wallet taxes.
Follow these steps to sync your Talisman Wallet data automatically to Koinly:
- Open your Talisman Wallet wallet app
- Copy the public address for every coin that you have on it (even the ones with a zero balance)
- Create a free account on Koinly
- Complete onboarding until you get to the Wallets page and find Talisman Wallet in the list
- Select API > Paste the public address/key you copied above in the appropriate box
- Hit Import and wait for Koinly to sync your data. This can take a few minutes
- 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!
How do I file my Talisman wallet 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 Talisman wallet provide tax documents?
No. Talisman wallet does not provide tax documents, but you can use a crypto tax calculator like Koinly to do your Polkadot taxes.
How do I get tax reports and forms from Talisman wallet?
The easiest way to get a Talisman wallet tax report is to connect to a crypto tax calculator like Koinly. All you need is your Talisman wallet address, which you can paste into Koinly. Koinly then imports your Talisman wallet transaction history, identifies your taxable transactions, and calculates your gains, losses, income, and more.
Does Talisman wallet provide financial or end of year statements?
No. Talisman wallet does not provide financial or end-of-year statements.