How to calculate your Kucoin crypto taxes

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Sam Adams
Samantha Adams
Head of Content

Recap has a comprehensive integration with Kucoin that makes it easy to manage your crypto tax calculations. Sign up for Recap and link your Kucoin account to securely monitor each transaction, manage your cryptocurrency portfolio, and effortlessly automate your taxes.

The legal bit: The information provided in this content does not endorse Kucoin. 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 Kucoin?

Kucoin is a cryptocurrency exchange platform that allows the trading of Bitcoin, Ethereum and other cryptocurrencies. Founded in 2017, they also offer margin trading, derivatives and staking.

Here's a breakdown of what Kucoin offers:

  • Buying and Selling Crypto: Purchase and sell popular cryptocurrencies like Bitcoin and Ethereum directly on the platform.
  • Margin Trading: Use borrowed funds to bet on the price of a crypto assets going up or down.
  • Derivatives: Speculate on the price of a cryptoasset going up or down without necessarily owning the underlying asset.
  • Staking: Gives users the potential to earn yield by locking their crypto assets.

How to automate your Kucoin crypto taxes with Recap

With our crypto tax software, calculating your taxes is stress-free. Connect your Kucoin account to Recap, and our system will classify and value all transactions and determine your tax liability based on your jurisdiction.

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How are Kucoin Transactions Taxed?

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

Transaction typeCGTIncomeTracked in Recap
Deposits
Withdrawals
Buying crypto with fiat
Crypto to crypto
Selling crypto
Staking transfers
Earning staking rewards
Referral bonus
Airdrops
Dust conversions

Please take a look at our tax guides for a more detailed look at crypto tax rules.

Help Guides

Connecting your Kucoin account

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

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The Tax Reports

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The Tax Screen

A guide to the tax screen.

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Automate your Kucoin 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 have to pay tax on my Kucoin transactions?

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

Tax authorities may become aware of your Kucoin transactions through various means, such as data sharing agreements between crypto exchanges and tax authorities, or during tax audits. It's essential to accurately report your crypto transactions to avoid penalties. 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.