How to calculate your Ledger Live crypto taxes

  • Recap CSV
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Sam Adams
Samantha Adams
Head of Content

Recap has a comprehensive integration with Ledge Live that makes it easy to manage your crypto tax calculations. Upload your Ledger Live 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 Ledger Live. 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 Ledger Live?

Ledger Live is the official companion software for Ledger hardware wallets like the Nano S and Nano X. It provides a user-friendly interface for managing your cryptocurrencies securely, allowing you to view your balance, send and receive funds, stake assets, and even buy or swap cryptocurrencies directly within the app. With support for over 1,800 coins, Ledger Live ensures your private keys are protected within the hardware wallet while offering features like NFT management and integration with DeFi protocols, making it a comprehensive tool for both new and seasoned crypto users.

How to simplify your Ledger Live crypto taxes with Recap

You can make the process of calculating your taxes stress-free with our crypto tax software. Upload your Ledger Live 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 Ledger Live Transactions Taxed?

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

Transaction typeCGTIncomeTracked in Recap
Deposits
Withdrawals
Buying crypto with fiat
Crypto to crypto
Selling crypto to fiat
Staking rewards

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

How to File Ledger Live Taxes: A Step-by-Step Guide

Recap makes filing your crypto taxes super simple!

  1. Import your Ledger Live 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 Ledger Live account

A step-by-step guide for adding your Ledger Live account to Recap.

Open guide
The Activity Screen

A guide to the activity screen.

Open guide
The Tax Reports

Open guide

FAQs

When should I use your Bitcoin, Ethereum, or EVM chain integrations instead of the Ledger Live CSV integration?

Most of the time! If you want automatic tracking, have complex transactions, or engage in activities beyond simple asset holding (HODLing), we recommend using our automated integrations for Bitcoin, Ethereum, or various EVM chains. These integrations update automatically, saving you time and effort compared to periodically importing a CSV file.

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

Yes, cryptocurrency is taxable in the UK, so if you are making taxable disposals or receiving taxable income on Ledger Live, 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 Ledger Live transactions?

Yes, if your company has cryptocurrency on its balance sheet, you can add a Ledger Live 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 Ledger Live account be automatically taxed?

No, crypto in your Ledger Live 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.