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Recap has a comprehensive integration with Nexo that makes it easy to manage your crypto tax calculations. Upload your Nexo 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 Nexo. 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 Nexo?
Nexo is a cryptocurrency platform that allows users to buy, exchange, earn, borrow, and spend crypto assets.
Here's a breakdown of what Nexo offers:
- Crypto Lending: Allows users to borrow cash or stablecoins by using their cryptocurrency holdings as collateral.
- Interest Earning Accounts: Enables users to earn interest on their cryptocurrency, fiat, and stablecoin deposits, with interest paid out daily.
- Nexo Card: Provides a crypto-backed credit card that lets users spend their digital assets while earning rewards and maintaining the ability to earn interest.
- Exchange Services: Facilitates the buying, selling, and trading of various cryptocurrencies directly on the platform.
How to simplify your Nexo crypto taxes with Recap
You can make the process of calculating your taxes stress-free with our crypto tax software. Add your Nexo account transactions 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 Nexo Transactions Taxed?
Tax implications on your Nexo transactions differ based on transaction types and your tax jurisdiction. Here are the tax guidelines for the different transaction types on Nexo:
Transaction type | CGT | Income | Tracked 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.