How to do your Coinsquare taxes with Koinly
Coinsquare is a popular and trusted Canadian crypto exchange for investors of all experiences, offering more than 40 cryptocurrencies to buy, sell and trade, as well as a pro trading platform for experienced investors and an OTC Wealth platform. Whatever your Coinsquare investments, Koinly can help with your Coinsquare taxes.
- Sign up to Koinly and choose your country and currency
- Connect Coinsquare with Koinly to import all your Coinsquare trades safely and securely
- Koinly categorizes Coinsquare transactions into gains, losses and income
- Koinly calculates your Coinsquare Capital Gains Tax and Coinsquare Income Tax
- Download your Coinsquare tax report from Koinly
- File your Coinsquare taxes online with the CRA or with your crypto tax accountant.
Watch how to do your Coinsquare taxes fast
Does Coinsquare report to the CRA?
Yes. In March 2021, Coinsquare came to an agreement with the CRA to hand over customer data dating back as far as 2014 in order to ensure tax compliance. This agreement came following federal proceedings from the CRA.
How do I file my Coinsquare taxes?
Getting your Coinsquare taxes done is easy and quick with Koinly. All you need is a your complete Coinsquare transaction history, which you can export from the platform as a CSV file.
Once you have your Coinsquare CSV file, just upload it to Koinly and Koinly comes the ultimate Coinsquare tax tool. Koinly calculates your capital gains and losses, as well as any income and converts it all into CAD. Koinly generates a variety of CRA crypto tax reports, depending on how you prefer to file - including the Schedule 3 form, the TurboTax Canada Report, and the Complete Tax Report. All you need to do is download your crypto tax report, ready to file with the CRA or hand over to your accountant to file on your behalf.
How to connect Coinsquare to Koinly via CSV
There's ways to get the CSV file you need from Coinsquare and it depends on the Coinsquare platform you're using.
For users on the old Coinsquare platform, you can request a copy of your transaction history using this request form. Make sure to request your all time transaction history when prompted, as well as requesting your transaction history for all the Coinsquare platforms you use.
For users using Coinsquare Trade or the Coinsquare Trade app, here's how to get your CSV file:
On Coinsquare
- Log in to Coinsquare Trade.
- In the top right corner, select the drop down next to your account name and select documents.
- Under statements & reports, select download next to Generic Tax Summary.
On Koinly
- Sign up or login into Koinly and head to the wallets page.
- Add a new wallet: Coinsquare.
- Select import from file.
- Upload your CSV file.
How do I troubleshoot my Coinsquare integration to Koinly?
Having trouble with your Coinsquare integration? Not to worry - there’s plenty of help available:
- 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 or Reddit
- Contact us on email or live chat
- Got a feature request? Give us feedback on Canny
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Does Coinsquare provide tax documents?
Coinsquare provides a generic tax summary that is a CSV file of your transaction history. You'll need to use this file to calculate your Coinsquare taxes, or upload it to crypto tax software like Koinly.
How do I get Coinsquare tax documents?
The easiest way to get your Coinsquare tax documents for the CRA is to upload your Coinsquare CSV file to crypto tax software like Koinly and let it generate your Coinsquare tax documents for you.
How do I get a Coinsquare CSV?
Easy, log in to Coinsquare trade, select your account name then documents, then download your Generic Tax Summary file.
Is Coinsquare allowed in Canada?
Yes. Coinsquare is IIROC (Investment Industry Regulatory Organization of Canada) regulated, as well as FINTRAC and OSC registered.
Does Coinsquare provide financial or end of year statements?
No, but Coinsquare does provide a Generic Tax Summary for users to calculate their tax liability themselves or upload to a crypto tax calculator.
Do I have to pay taxes on Coinsquare?
Yes. If you've traded or sold crypto on Coinsquare and make a gain, you'll be liable for Income Tax on all or half of that gain depending on how the CRA views your income.