How to do your Revolut taxes with Koinly
Revolut doesn't think of itself as a crypto exchange - in fact, it calls itself a 'financial super app' and has racked up more than 28 million users worldwide. You can buy, sell and send crypto with Revolut, as well as store crypto in a Revolut wallet, and stake crypto to earn. Whatever your investments, Koinly can help. Revolut has partnered with Koinly as their preferred crypto tax partner to help you do your Revolut crypto taxes in a snap. Here's how it works.
- Log in to Revolut and connect with Koinly
- Koinly will import all your Revolut trades safely and securely
- Koinly categorizes Revolut transactions into gains, losses, and income
- Download your Revolut tax report from Koinly
- File your Revolut taxes online or with your crypto tax accountant
Watch how to do your Revolut taxes fast
How to connect Koinly and Revolut automatically on mobile
You can connect Koinly & Revolut automatically through the Revolut app.
On Revolut App
- Open your Revolut app
- Select crypto in the top navigation
- Select the three-dot icon above more
- Select tax report
- Select join Koinly
- You'll be taken over to Koinly where you can either sign up or sign in to your Koinly account
- Your Revolut account will begin automatically syncing
How to connect Koinly and Revolut automatically on desktop
- Log in to Koinly and select wallets.
- Select add wallet/exchange and then Revolut. Please note if you have any Revolut wallet set up using (LEGACY), this should be deleted.
- Select set up auto-sync. You should be redirected to Revolut.
- If you weren't already logged in, you'll need to log in to your Revolut account using your phone number and passcode.
- Select choose another method for confirmation, and then push notification. You'll then need to confirm your login from your Revolut app. It's important you do this as otherwise you'll have limited access to Revolut on desktop.
- You should at this point be redirected to Koinly or see a pop-up in Revolut to join Koinly. Select join Koinly if it's the latter. If you're not automatically redirected and no pop-up appears, please check your browser settings to ensure your browser did not block the pop-up.
- If you see no pop-up, go to the crypto tab and select tax report.
- You should be redirected back to Koinly, and your Revolut wallet should begin syncing.
How to integrate Revolut with Koinly using CSV
You'll need to start by downloading a CSV file with your full trading history from Revolut before you can upload it to Koinly - here's how.
How to download and export your transaction history CSV file from Revolut
- Log in to Revolut
- Select crypto
- Select token/coin - for example, Bitcoin
- Select statements
- Select the three-line icon next to [coin] account - for example, ETH account
- Press select all - this will ensure you download the transaction history for all your crypto holdings at once instead of having to export a CSV file for each coin
- Press select
- Select excel
- Enter date range - this needs to cover your complete transaction history on Revolut
- Select generate
How to upload your Revolut CSV to Koinly
- Sign up or log in to your Koinly account and go to the wallets page.
- Select add new wallet: Revolut.
- Select import from file.
- Upload your CSV file(s)
Important
You don’t need to worry about Koinly having access to your Revolut account. Koinly only has read-only access so it can view your transaction history. It can't make any changes or trades on your Revolut account.
Important
1. Many users report having issues with downloading a CSV file from Revolut that includes their entire transaction history. If this is the case for you, you can contact Revolut support who will be able to provide you with a complete transaction history CSV file, or you can export individual CSVs for each coin by following the steps above, but not selecting all accounts.
2. Even if you're only reporting for the current financial year, it's really important you include transaction history - for however long you've been trading on Revolut. This lets Koinly identify your cost basis so your capital gains and losses are calculated accurately.
How do I troubleshoot my Revolut integration to Koinly?
Issues with your Revolut data import? No worries:
- 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 by email or live chat
- Got a feature request? Give us feedback on Canny
Calculate your Revolut taxes
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Does Revolut have tax documents?
No, Revolut doesn’t provide tax reports. But you can use your Revolut transaction history to generate one yourself or get a crypto tax calculator to do it for you. You can even sign up, or sign in, to Koinly within the Revolut app.
How do I get Revolut tax documents?
Revolut offers 2 easy ways to export your transaction history to connect with crypto tax software - like Koinly - and generate tax forms. Revolut pairs with Koinly through the app or CSV file import to generate your tax forms. Once connected, Koinly will calculate your Revolut taxes based on your location AND generate your EOFY tax report.
Do you get a 1099 from Revolut?
Revolut are based in the UK, and even though they operate in the US, we haven’t yet seen any confirmation that they’re issuing 1099 forms to users (or the IRS). However, as Revolut is not a crypto only app, but a banking app too - you may need to file an FBAR with the IRS if you have holdings of more than $10,000.
Does Revolut provide financial or end of year statements?
No, Revolut does not provide an end of year tax statement. But you can create one by exporting your transaction history if you need one - just set the date range to your financial year when you’re generating your statement.
Do I have to pay taxes on Revolut?
Yes - if you have made any capital gains or income as a result of your Revolut crypto investment activities, you'll need to report these to your tax office and pay taxes on them.
Does Revolut report to tax authorities?
Revolut doesn't report to the IRS, HMRC, the ATO and the CRA directly, but they do have an obligation to report to the Lithuanian tax authority. This information may then be requested by other tax authorities - like the IRS - under the Standard for Automatic Exchange of Financial Account Information to ensure tax compliance.
Is Revolut safe?
Yes. Revolut is generally regarded as a safe and well-regulated financial platform. As Revolut offers many services outside crypto investments, the regulation requirements it needs to meet are far more stringent.