How to file your Solana (SOL) taxes with Koinly
Solana blockchain is focused on hosting and building scalable apps, with lower fees than rivals. Whatever your SOL investments, you'll need to pay taxes on them - and Koinly can help. Here's how.
Follow these steps to sync your Solana (SOL) data automatically to Koinly:
- Open your Solana (SOL) 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 Solana (SOL) 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!
- Staking and unstaking needs to be tagged manually (How to tag staking transactions)
- Jupiter limit trades and swaps are fully supported, but partial support for DCA and perps (Details on Jupiter support)
- Large wallets with over 50k transactions may not fully sync
- 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 to find your Solana (SOL) public address
To connect to Koinly, all you need is your Solana public address for each wallet you use to interact with Solana. The exact steps on how to get your public address vary a little depending on the wallet you’re using, but we’ve got instructions on how to get your public address for all the top Solana wallets including:
Don't see your wallet? You'll find easy to follow steps on how to get your Solana public address from hundreds of wallets here.
And don't forget, in order for Koinly to calculate your crypto taxes correctly you’ll need to add your public address from every wallet you use to interact with Solana.
Your frequently asked questions
How is staking Solana taxed?
Tax on staking rewards varies a little depending on your tax office - but generally speaking, most tax offices see staking rewards as additional income, which makes them subject to Income Tax upon receipt.
How are Solana airdrops taxed?
Received an airdrop of SOL tokens? Some tax offices view this as additional income and subject airdrops to Income Tax upon receipt, as well as Capital Gains Tax upon disposal. Read more in our guide on airdrops.
How are liquidity pool tokens taxed?
Most tax offices haven’t released guidance on liquidity pool tokens just yet. But, as you’re often trading capital in return for LP tokens, this is potentially going to be viewed as a crypto to crypto trade which is subject to Capital Gains Tax in most countries. You can read more about liquidity pool tokens in our guide on this subject.
Do you have to pay tax on Solana?
Yes. You need to pay tax whenever you have income or capital gains from your Solana investments in pretty much every country in the world. Find out more in our crypto tax guides.
Can the IRS track Solana?
Yes. The IRS can track Solana and other cryptocurrencies. If you’re trading SOL on any large centralized crypto exchange, the majority of these exchanges issue users with 1099 forms. They may also share KYC data with the IRS to ensure tax compliance.
Does the IRS know about my SOL wallet?
Are Solana NFTs taxed?
Yes. From a tax perspective, most tax offices view NFTs as a kind of crypto asset and as such the same rules apply. This means if you sell or swap Solana NFTs and make a gain, you’ll generally pay Capital Gains Tax on that gain.
