How to do CoinEx taxes
CoinEx is a crypto exchange that serves users globally. But if you have CoinEx transactions, you may have a tax bill. Koinly can help calculate your CoinEx taxes, including gains, losses, income, and more, and generate CoinEx tax forms. You just need to import your transaction data, and Koinly will do the rest. Here's how it works.
Follow these steps to sync your CoinEx data automatically to Koinly:
- Log in to CoinEx.
- In the top right corner, select account.
- From the drop-down menu, select API management.
- Select create API.
- Give your API key a name, for example, "Koinly".
- Enter your TOTP code.
- Select create.
- Copy your API key and secret key and paste them into the fields in Koinly.
On Koinly:
- Create a free account on Koinly
- Complete onboarding until you get to the Wallets page and find CoinEx in the list
- Select API > Paste the API keys 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!
Coinex API doesn't return the following:
- Trades with pairs that have been delisted
- Instant swaps
- Airdrops, referral commissions
- 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 are CoinEx transactions taxed?
Crypto tax varies depending on where you live and your tax office. However, in general, crypto is subject to two taxes in most countries - Income Tax and Capital Gains Tax.
Capital Gains Tax: Whenever you sell or swap crypto on CoinEx, you'll likely pay Capital Gains Tax on any profits. Capital Gains Tax also generally applies to realized profits from futures contracts, but it depends on where you live.
Income Tax: Whenever you earn new tokens on CoinEx, like interest through a CoinEx Financial Account or earning staking rewards on CoinEx, you'll pay Income Tax upon receipt of those tokens, based on the fair market value (in your fiat currency) on the day you received them.
Want to know how crypto is taxed in your country? Read our crypto tax guides.
Does CoinEx automatically deduct taxes?
No, CoinEx does not withhold or deduct taxes on your behalf. You are personally responsible for tracking any taxable events related to your CoinEx activities and ensuring that the appropriate taxes are reported and paid to your local tax authorities.
Does CoinEx report to the IRS and other tax offices?
CoinEx does not operate in the US due to the regulatory environment, so it's unlikely the exchange reports to the IRS. However, as a large global exchange, the platform has likely faced pressure from tax offices globally to share customer data.
Does CoinEx send tax documents?
No. CoinEx does not provide tax documents for users. Instead, users need to get their CoinEx transaction history and either calculate their taxes themselves or use a crypto tax calculator to help them.
How to get your CoinEx tax report
Doing your CoinEx taxes with Koinly couldn't be simpler. CoinEx connects to Koinly via API to automatically fetch your transaction data, or you can upload a CSV file of your transaction history.
Once connected, Koinly becomes the ultimate CoinEx tax tool. Koinly calculates your CoinEx taxes, including capital gains, losses, income, and more, and generates your CoinEx tax report. All you need to do come tax time is download your report and file it with your tax authority.
FAQs
Does CoinEx have tax documents?
CoinEx doesn't issue a dedicated tax report. However, you can export your transaction history from CoinEx and use it with third-party crypto tax platforms, such as Koinly, to create a comprehensive tax report based on your CoinEx activity.
How do I get CoinEx tax documents?
You can generate a CoinEx tax form either manually or with the help of crypto tax software. The simplest method is to connect your CoinEx account to a tax app like Koinly using the API. Alternatively, you can download your transaction history as a CSV file and calculate your tax obligations yourself.
Does CoinEx provide financial or end of year statements?
Not directly, but you can download your full account statement from CoinEx, which includes your complete transaction history. This data can then be used to create a tax statement using a crypto tax tool.
Do I have to pay taxes on CoinEx?
Yes. If you've earned income or realized capital gains through your crypto activities on CoinEx, you're required to report these to your local tax authority. Failing to do so can result in significant penalties.
