Recap has a comprehensive integration with Kraken Futures that makes it easy to manage your crypto tax calculations. Sign up for Recap and link your Kraken Futures account to securely monitor each transaction, manage your cryptocurrency portfolio, and effortlessly automate your taxes.
*Disclaimer: The information provided in this content does not endorse Kraken Futures. Furthermore, it does not constitute tax advice. If you are uncertain about any financial or tax-related matters, we strongly recommend seeking guidance from a qualified tax professional. Additionally, you may utilise our accountant and professional advisor sharing features.
What is Kraken Futures?
Kraken Futures is a trading platform offered by Kraken, a prominent cryptocurrency exchange, that allows users to trade cryptocurrency futures contracts.
Here's a breakdown of what Kraken Futures offers:
- Futures Contracts: Facilitates trading of futures contracts for various cryptocurrencies, enabling users to speculate on the future price movements of digital assets.
- Leverage: Provides leverage options, allowing traders to increase their exposure to market movements and amplify their gains or losses.
- Advanced Trading Tools: Offers a range of advanced trading tools, including real-time charting, technical indicators, and multiple order types to support diverse trading strategies.
- Educational Resources: Offers educational materials and resources to help users understand futures trading and enhance their trading skills.
How to automate your Kraken Futures crypto taxes with Recap
You can make the process of calculating your taxes stress-free with our crypto tax software. Connect your Kraken Futures account to Recap, and our system will classify and value all transactions using our unique fair-market valuation engine and determine your tax liability.
Auto Sync with Kraken Futures How are Kraken Futures Transactions Taxed?
Tax implications on your Kraken Futures transactions differ based on transaction types and your tax jurisdiction. Here are the tax guidelines for the different transaction types on Kraken Futures:
| Transaction type | CGT | Income | Tracked in Recap |
|---|---|---|---|
| Deposits | |||
| Withdrawals | |||
| Buying crypto with fiat | |||
| Crypto to crypto | |||
| Selling crypto for fiat | |||
| Earning staking rewards |
Refer to our tax guides for a more detailed look at crypto tax rules.
