How to File Your Terra 2.0 (LUNA) Taxes with Koinly
Terra 2.0 is a fork of the original Terra blockchain (now Luna Classic (LUNC), and 100% community owned. Whatever your Terra 2.0 investments, Koinly can help with your crypto taxes.
Follow these steps to sync your Terra2.0 (LUNA) data automatically to Koinly:
- Open your Terra2.0 (LUNA) wallet app
- Locate and copy your public address or key
- Create a free account on Koinly
- Complete onboarding until you get to the Wallets page and find Terra2.0 (LUNA) 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!
If you have transactions on the Terra Classic (LUNC) blockchain, see how to connect.
How to find your Terra 2.0 public address
To connect to Koinly automatically, you'll need your Terra 2.0 public address, for each wallet you use to interact with the Terra 2.0 blockchain. It's easy to find your public address, and we've got instructions on how to get it for all the most popular LUNA wallets, including:
Don't see your wallet? You'll find easy-to-follow steps on how to get your LUNA public address from hundreds of wallets here.
Please note: Koinly needs your complete Terra 2.0 transaction history in order to calculate your crypto taxes correctly, so you’ll need to add your public address from every wallet you use to interact with Terra 2.0.
Your frequently asked questions
How do I get a Terra 2.0 tax report?
The easiest way to get a Terra 2.0 tax report is to connect Koinly to Terra 2.0 using your public address. The API will then automatically return your Terra 2.0 transaction history, calculate your taxes and generate your crypto tax report.
Do you pay taxes on staking LUNA?
Yes. In most countries, staking rewards are seen as a kind of additional income and subject to Income Tax upon receipt, as well as Capital Gains Tax upon disposal.
How is staking LUNA taxed?
The tax you'll pay on your LUNA staking rewards depends on where you live and how your tax office views your staking rewards, but in most countries, staking rewards are viewed as additional income.
How are LUNA liquidity pool tokens taxed?
DeFi taxes vary depending on where you live. But generally speaking, if you're trading capital for LP tokens (and vice versa), this will often be viewed as a crypto to crypto trade and subject to Capital Gains Tax.
How do I report LUNA staking rewards?
How you report your LUNA staking rewards varies depending on where you live, but it's usually as part of your annual tax return. You'll need to identify the fair market value of any LUNA tokens on the day you received them in your fiat currency and report this to your tax office.
How are Terra LUNA 2.0 airdrops taxed?
Tax on airdrops depends on where you live and your tax office. For example, the IRS views airdrops (including from hard forks) as additional income and subjects them to Income Tax.