How to calculate your Coinpass taxes

  • Automatic Sync
  • Recap CSV
1 min read
Last updated:
coinpassAuto Sync with Coinpass
Sam Adams
Samantha Adams
Head of Content

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

Coinpass is a UK-based cryptocurrency exchange founded in 2018 serving retail investors, professional traders, and businesses.

Here's a breakdown of what Coinpass offers:

  • Buying and Selling Crypto: Purchase and sell popular cryptocurrencies like Bitcoin and Ethereum directly on the platform.
  • Advanced Trading Tools: Coinpass Pro provides professional traders with advanced charting tools, real-time market data, and multiple order types.
  • OTC (Over The Counter) Trading: Businesses can make use of a dedicated OTC trading platform

How to automate your Coinpass crypto taxes with Recap

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

coinpassAuto Sync with Coinpass

How are Coinpass Transactions Taxed?

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

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 Coinpass account

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

Open guide
Connecting your Binance account

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

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Connecting your Bitstamp account

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

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Automate your Coinpass 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

coinpassAuto Sync with Coinpass

FAQs

Do I need to pay tax on my Coinpass transactions?

Yes, you may need to pay tax on your Coinpass 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 Coinpass transactions?

Tax authorities may become aware of your Coinpass 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.