How to calculate your Bitstamp taxes

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  • Recap CSV
1 min read
Last updated:
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Sam Adams
Samantha Adams
Head of Content

Recap has a comprehensive integration with Bitstamp that makes it easy to manage your crypto tax calculations. Sign up for Recap and link your Bitstamp 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 Bitstamp. 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 Bitstamp?

Bitstamp is a Luxembourg-based cryptocurrency exchange founded in 2011 that allows trading between fiat currency and cryptocurrencies such as Bitcoin, Ethereum and Litecoin.

Here's a breakdown of what Bitstamp offers:

  • Cryptocurrency Trading: Facilitates the trading of a wide range of cryptocurrencies, including Bitcoin, Ethereum, and other popular digital assets.
  • Fiat Support: Supports deposits and withdrawals in multiple fiat currencies, such as USD, EUR, and GBP, allowing conversion between crypto and traditional money.
  • Advanced Trading Features: Offers advanced trading tools, including real-time charting, order books, and various order types.

How to automate your Bitstamp crypto taxes with Recap

You can make the process of calculating your taxes stress-free with our crypto tax software. Connect your Bitstamp account to Recap, and our system will classify and value all transactions using our unique fair-market valuation engine and determine your tax liability.

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How are Bitstamp Transactions Taxed?

Tax implications on your Bitstamp transactions differ based on transaction types and your tax jurisdiction. Here are the tax guidelines for the different transaction types on Bitstamp:

Transaction typeCGTIncomeTracked 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.

Help Guides

Connecting your Bitstamp account

A step-by-step guide for connecting your Bitstamp account to Recap.

Open guide
Deposit and withdrawal conversions

Deposits and withdrawals can track implicit conversions if a sent amount or received amount is specified.

Open guide
The Tax Screen

A guide to the tax screen.

Open guide

Automate your Bitstamp tax reporting - takes 5 mins.

  • 1

    Sign up to Recap

  • 2

    Set up auto sync with our step by step guide

  • 3

    Generate your tax report ready to self-file or share with your accountant

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FAQs

Do I need to pay tax on my Bitstamp transactions?

Yes, you may need to pay tax on your Bitstamp transactions. Tax obligations vary depending on your country’s tax laws and the nature of your transactions. Common taxable events include selling cryptocurrency, trading between coins (crypto to crypto), and making purchases with crypto.

Do the tax authorities know about my Bitstamp transactions?

Tax authorities may become aware of your Bitstamp transactions through various means, such as data-sharing agreements between crypto exchanges and tax authorities or during tax audits. It's essential to report your crypto transactions to avoid penalties accurately. Using a crypto tax software like Recap can help ensure your transactions are properly recorded and reported.

What is the benefit of using a crypto tax calculator?

A crypto tax calculator automates the process of calculating taxes on your cryptocurrency transactions, providing accurate tax liability figures and ensuring compliance with tax regulations without manual calculations.