Sync Nexo CSV Recap has a comprehensive integration with Nexo that makes it easy to manage your crypto tax calculations. Upload your Nexo statement to Recap to import your full history and automate your taxes. From 2026, tax authorities are widening the automatic reporting of crypto under frameworks such as the OECD's Cryptoasset Reporting Framework (CARF), so keeping an accurate record matters more than ever.
Disclaimer
The information provided in this content does not endorse Nexo. Furthermore, it does not constitute tax advice. If anything financial or tax-related is unclear, speak to a qualified tax professional. You can also share your Recap account with your accountant or tax adviser directly.
Why Nexo tax can be difficult to calculate manually
Nexo is built around earning interest on your crypto and borrowing against it, and that lending-and-earning model is exactly what makes its tax position add up quietly over time. A few things tend to trip people up:
- Interest lands as income. Interest paid on your balances is generally treated as income at the value you receive it, and those coins enter your cost basis at that same value, so only later growth is a gain. It can accrue in small amounts very frequently across several assets, which is easy to overlook.
- In-app exchanges are disposals. Swapping one asset for another inside Nexo is a disposal that crystallises a gain or loss, even though it feels like moving funds between pots.
- Borrowing adds moving parts. Taking a loan against your crypto is not itself a disposal, but repayments, collateral and any liquidations all need recording accurately so your cost history stays right.
- A steady drip over a long history. Frequent interest payments across many tokens build a long record, and every disposal is measured against a cost-basis pool built from the whole thing.
How to import your Nexo data into Recap
Nexo imports into Recap by file upload. Export your transaction statement from Nexo and upload it to Recap, and we bring in your full history automatically, including interest, in-app exchanges, deposits and withdrawals. Recap classifies and values each entry with our fair-market valuation engine and applies the tax rules for your jurisdiction, separating what is income from what is a capital gain.
How are Nexo transactions taxed?
Tax treatment depends on the transaction type and where you are tax resident. Here is how the main Nexo activities are generally treated:
| Transaction type | CGT disposal | CGT acquisition | Income |
|---|---|---|---|
| Deposits | CGT disposal: no. Nexo deposit rows are parsed with a zero fee, so no fee disposal arises either. | CGT acquisition: no | Income: no |
| Withdrawals | CGT disposal: no. The withdrawn amount itself is not a disposal. Where Nexo's newer CSV supplies Fee / Fee Currency values, Recap records that fee as a disposal of the fee asset at market value. | CGT acquisition: no | Income: no |
| Buying crypto with fiat | CGT disposal: no. The fiat leg is not a chargeable asset, so no disposal is recorded. | CGT acquisition: yes. The crypto bought enters the section 104 pool at the trade value; any fee is attached to that acquisition and also emitted as a fee disposal of the fee asset. | Income: no |
| Crypto to crypto | CGT disposal: yes. Recap's default is to value the trade from the quote side (‘Trade valuation method’: Quote for portfolios created after 25 May 2022, Disposed for older ones). | CGT acquisition: yes. The asset received enters the section 104 pool at the same valued amount as the disposal. | Income: no |
| Selling crypto for fiat | CGT disposal: yes | CGT acquisition: no. Fiat received is not a chargeable asset, so no pool acquisition is recorded. | Income: no |
| Interest rewards | CGT disposal: no | CGT acquisition: yes. The interest received also enters the section 104 pool at the same market value used for the income figure. | Income: yes. Interest, Fixed Term Interest and Dividend rows are treated as income at market value on receipt. Negative interest rows (loan interest charged to you) are skipped. Loyalty Bonus / Referral Bonus rows map to Airdrop and card Cashback rows to Cashback: both are pool acquisitions rather than income in Recap; the airdrop pool cost defaults to zero for portfolios created after 6 April 2024 (market value for older ones) and is configurable per transaction. |
| Transferring between your own accounts | CGT disposal: no. Moves between your Nexo savings, credit-line and Pro accounts are not disposals; a fee charged on a withdrawal leg would be recorded as a disposal of the fee asset. | CGT acquisition: no | Income: no |
This table shows how Recap classifies each transaction type by default. Some treatments — such as the acquisition cost used for airdrops — are configurable in Recap. This is general information, not tax advice; consult a qualified tax professional about your circumstances.
This table shows Recap's default classification for common Nexo transactions. It is not an exhaustive schedule or a ruling. Treatment depends on your circumstances and jurisdiction, and you can recategorise any transaction where yours differ. Confirm your position with a qualified tax adviser.
Interest paid on your Nexo balances is generally treated as income at the value you receive it, with any later disposal of those coins also potentially creating a capital gain. In-app exchanges between assets are disposals for capital gains purposes, and transfers between your own accounts are not disposals.
Refer to our tax guides for a more detailed look at crypto tax rules.
What's in your Nexo tax report
Recap turns your full Nexo history into a single tax report: capital gains, losses and income worked out under the rules for your jurisdiction, interest valued on the day it arrived, in-app exchanges treated as disposals, and a clear year-by-year summary you can file yourself or hand straight to your accountant.
Common Nexo tax challenges and how Recap solves them
Nexo accounts produce a few recurring tax problems. Here is how Recap handles each one:
- Interest as income. Interest lands as many small income events across tokens. Recap values each one at the point you receive it, so none are missed.
- In-app exchanges. Every asset-for-asset swap is a disposal. Recap calculates the gain or loss on each one automatically, so nothing is treated as a simple transfer by mistake.
- Borrowing and collateral. Loans, repayments and collateral movements are easy to muddle. Recap records them so your cost history stays accurate.
- A long, drip-fed history. Frequent interest across many assets is slow to reconstruct. Recap imports the whole record and pools every disposal correctly.
Why Nexo users choose Recap
Nexo users often choose Recap because an earn-and-borrow account quietly builds up more tax to track than it looks: interest as income, in-app exchanges as disposals, and borrowing on top. Rather than piecing all of that together by hand, you can upload your statement and see your gains, losses and income reconciled in one report, ready to file or share with your accountant.
Whether Nexo shares account data with HMRC is a separate question, and we answer it in does Nexo report to HMRC.
