How to do your NDAX taxes with Koinly
NDAX is a popular Canadian crypto exchange, allowing Canadian investors to buy, sell, trade, and stake a wide range of cryptocurrencies, as well as offering a wealth OTC desk. Whatever your investments, Koinly can help you do your NDAX taxes.
- Sign up to Koinly and choose your country (Canada) and currency (CAD)
- Connect NDAX with Koinly to import all your NDAX trades safely and securely (NDAX has SSO with Koinly!)
- Koinly calculates your NDAX gains, losses, and income
- Download your NDAX tax report from Koinly
- File your NDAX taxes with the CRA online or with your crypto tax accountant
Watch how to do your NDAX taxes fastÂ
Does NDAX report to the CRA?
Yes, NDAX may report to the CRA. NDAX is a FINTRAC registered crypto service provider. In order to comply with FINTRAC regulation, NDAX may be required to share customer data with the CRA on request.
How to connect NDAX to Koinly automatically
NDAX has single sign-on with Koinly! That means you can either sign up to Koinly from your NDAX account, or connect to NDAX from your Koinly account automatically! Here's how it works.
On NDAX
1. Log in to NDAX
2. Go to settings
3. Scroll down to tax reporting and toggle the permissions on next to connect account with Koinly
4. In the disclaimer pop-up, select agree
5. You'll now be redirected to Koinly where you can connect your account, or log in to an existing Koinly account
6. Your data should start automatically syncing
Prefer to connect via Koinly? You can.
On Koinly
- Log in to Koinly and select wallets
- Search for NDAX and select NDAX (SSO)
- Select set up auto sync
- Select continue to NDAX (SSO)
- Log in to NDAX
- You'll be taken to the settings page, turn the toggle on next to connect account with Koinly
- Agree to the disclaimer
- Your data should start automatically syncing
Prefer to do things manually? You can connect by uploading a CSV file instead.
How to integrate NDAX with Koinly using CSV
You'll need to start by downloading a CSV file with your full trading history from NDAX before you can upload it to Koinly - here's how.
How to download and export your transaction history CSV file from NDAX
- Log in to NDAX
- In the menu on the left, select reports
- Select create report
- Select ledgers from the first drop down menu
- Select all currencies from the second drop down menu
- Select a date range
- Select create
- Select the download icon next to your generated report
On Koinly
- Sign up or log in into Koinly and go to the wallets page
- Select add a new wallet: NDAX
- Select import from file
- Upload your CSV file
Important
1. When downloading your CSV files, check that the file covers your full trading history.
2. Don't forget to tag your airdrops and forks. This will ensure that they show up correctly as income on your NDAX tax reports.
How do I troubleshoot my NDAX integration to Koinly?
If you need help connecting NDAX and Koinly, try these helpful resources:
- 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
Calculate your NDAX taxes
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Does NDAX send tax forms?
No, NDAX does not issue users with tax forms. However, you can download a CSV file of your NDAX transaction history to create one, or connect to crypto tax software via API.
How do I get NDAX tax forms?
The easiest way to get your NDAX tax forms is to connect to Koinly via API. This automatically fetches your NDAX transaction history and lets Koinly calculate your gains, losses and income in minutes and generate your Canada crypto tax reports.
Is NDAX registered in Canada?
Yes NDAX is located in Alberta, registered as a Money Service Business, and regulated by the Financial Transactions and Reports and Analysis Centre of Canada (FINTRAC).
How do I download NDAX transaction history?
Just log into your NDAX account and go to reports, then select create report. Once your report is generated, you'll be able to download it by clicking the download icon next to it.
Do I have to pay tax on NDAX?
Yes - if you have capital gains from selling or trading crypto on NDAX, or income from staking crypto on NDAX, you'll be liable for tax on it. The CRA is clear crypto is subject to Income Tax and the penalties for crypto tax evasion are steep.
Does NDAX provide end of year or financial statements?
No, NDAX does not provide an end-of-year financial statement. But if you'd like a statement for a single year, you can pick a date range that reflects your financial year when exporting your NDAX CSV file.