How to file your XAI taxes with Koinly
XAI is a layer-three network operating on the Arbitrum blockchain that leverages tri-layer architecture for Ethereum’s security. But if you have XAI transactions, you might have a tax bill. Don't worry, Koinly can help. Here's how.
Follow these steps to sync your XAI data automatically to Koinly:
- Open your XAI wallet app
- Locate and copy your public address or key
On Koinly:
- Create a free account on Koinly
- Complete onboarding until you get to the Wallets page and find XAI 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!
- 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
FAQs
What is XAI?
XAI is a cryptocurrency built on the Arbitrum platform, leveraging a tri-layer architecture to combine Ethereum's security, Arbitrum's scalability, and its own Layer 3 innovations focused on gaming. The XAI token is used for transactions, rewards, governance, and ecosystem stability, enhancing gaming experiences by enabling ownership and trading of in-game assets. Additionally, XAI incorporates AI-powered tools for detecting scams and creating NFTs.
Do I have to pay tax on my XAI transactions?
Yes, crypto is generally subject to Capital Gains Tax or Income Tax depending on your transactions and where you live. Learn more in our crypto tax guides.
How do I calculate my XAI taxes?
The simplest way to calculate your XAI taxes is with a crypto tax calculator like Koinly. Simply add your public address, and Koinly will automatically import your XAI transaction data and calculate your gains, losses, income, and more.
