Recap has a comprehensive integration with Uphold that makes it easy to manage your crypto tax calculations. Sign up for Recap and link your Uphold 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 Uphold. 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 Uphold?
Uphold is a digital money platform that allows trading between over 200 currencies and commodities, including cryptocurrencies. It was founded in 2103.
Here's a breakdown of what Uphold offers:
- Multi-Asset Trading: Allows users to trade between cryptocurrencies, fiat currencies, and precious metals within one platform.
- Digital Wallet: Provides a secure wallet for storing a wide range of assets, with features for easy transfers and transactions.
- Cross-Asset Transfers: Facilitates seamless transfers between different asset classes without the need for conversion to fiat.
- Recurring Transactions: Supports automated, recurring transactions for users who want to regularly invest in or trade specific assets.
How to automate your Uphold crypto taxes with Recap
You can make the process of calculating your taxes stress-free with our crypto tax software. Connect your Uphold account to Recap, and our system will classify and value all transactions using our unique fair-market valuation engine and determine your tax liability.
Auto Sync with Uphold How are Uphold Transactions Taxed?
Tax implications on your Uphold transactions differ based on transaction types and your tax jurisdiction. Here are the tax guidelines for the different transaction types on Uphold:
| 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.
