How to calculate your Exodus crypto taxes

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Sam Adams
Samantha Adams
Head of Content

Recap has a comprehensive integration with Exodus that makes it easy to manage your crypto tax calculations. Upload your Exodus transactions to Recap to securely monitor each transaction, manage your cryptocurrency portfolio, and effortlessly automate your taxes.

*Disclaimer: The information provided in this content does not endorse Exodus. 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 Exodus?

Exodus is a multi-chain cryptocurrency wallet that allows users to store and swap a large number of different crypto assets.

How to simplify your Exodus crypto taxes with Recap

You can make the process of calculating your taxes stress-free with our crypto tax software. Upload your Exodus data to Recap, and our system will classify and value all transactions using our unique fair-market valuation engine and determine your tax liability based on HMRC, IRS, or SARS tax rules.

How are Exodus Transactions Taxed?

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

  • Deposits: Not a taxable event. Tracked for portfolio management.
  • Withdrawals: Not a taxable event. Tracked for portfolio management.
  • Buying Crypto with fiat: Not a taxable event. Tracked for future capital gains calculation.
  • Crypto to crypto: Taxed based on jurisdiction-specific capital gains rules.
  • Selling Crypto: Taxed based on jurisdiction-specific capital gains rules.
  • Earning crypto from staking: Usually an income tax event.

Refer to our tax guides for a more detailed look at crypto tax rules.

How to File Exodus Taxes: A Step-by-Step Guide

Recap makes filing your crypto taxes super simple!

  1. Import your Exodus CSV into Recap
  2. Review your transactions, ensuring all transactions are recorded and accurate
  3. Download your automatically generated capital gains and income tax reports ready to file, or send an invite to your accountant, who is completing your tax return on your behalf.

Help Guides

Adding your Exodus Account
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How much profit do I have to make on cryptocurrencies to be liable to pay tax in the UK?
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What incidental costs does HMRC allow for cryptocurrency taxes?
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FAQs

Do I have to pay tax on my Exodus transactions in the UK?

Yes, cryptocurrency is taxable in the UK, so if you are making taxable disposals or receiving taxable income on Exodus, then you may need to report and pay tax on your activity. Take a look at our UK tax guide to understand when tax applies.

Can Recap support my company’s Exodus transactions?

Yes, if your company has cryptocurrency on its balance sheet, you can add a Exodus account to Recap and make your record-keeping a breeze. If your company is crypto-native, then we recommend exploring other crypto-accounting software built specifically for businesses.

Will my crypto in my Exodus account be taxed?

No, crypto in your Exodus account will not automatically be taxed, but if you have generated any taxable events, you may need to report and pay tax. To understand how crypto is taxed, take a look at our comprehensive tax guide.