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How To Do Your Coinsquare Taxes with Koinly

Coinsquare pairs perfectly with Koinly to make Coinsquare taxes easy! 🤝 Connect Coinsquare to Koinly to quickly calculate your taxes. ⚡ Just follow a few simple steps! 🖱️

CSV File Import
Last updated: Wednesday, 21 September 2022

Connect Coinsquare with Koinly to calculate your crypto tax

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.

How are Coinsquare transactions taxed?

In Canada, you'll pay Income Tax on your Coinsquare transactions, though the amount of tax you'll pay will depend on how you're viewed as an investor and your specific transaction. In general, selling, trading, spending and gifting crypto will be considered a capital gain, while earning new coins or tokens will be considered income. Though these rules change if you're seen to be earning business income - so if you're trading at scale, regularly and with the intention to make a profit.

  • For any income, you'll pay Income Tax at your full Federal and Provincial Income Tax rate.
  • For any capital gains, you'll pay Income Tax on half of any gain.

Learn more about how crypto is taxed in our Canada crypto tax guide.

Does Coinsquare provide tax documents?

No, Coinsquare doesn't provide tax documents or reports. Instead, you'll need to get your Coinsquare transaction history and either calculate your Coinsquare taxes yourself, or use a Coinsquare tax calculator.

How to get your Coinsquare tax report with Koinly

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

  1. Log in to Coinsquare Trade.
  2. In the top right corner, select the drop down next to your account name and select documents.
  3. Under statements & reports, select download next to Generic Tax Summary.

On Koinly

  1. Sign up or login into Koinly and head to Wallets.
  2. Add a new wallet: Coinsquare.
  3. Select import from file.
  4. Upload your CSV file.

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 troubleshoot my Coinsquare integration to Koinly?

Having trouble with your Coinsquare integration? Not to worry - there’s plenty of help available: