How to Report Your Binance Taxes

Coinpanda has direct integration with Binance to simplify tracking your trades and tax reporting. Calculate your taxes and generate all required tax reports and forms easily.

Supported transaction types

It is important that you import all transactions from Binance to Coinpanda to calculate your taxes accurately. Coinpanda supports the following transaction types from Binance today:

Tx Type	API import	CSV file upload
Trades
Deposits and withdrawals
Airdrops/Rewards/Distributions
Dust to BNB conversion
Binance Liquid Swap (BSwap)
Buy Crypto History*
Realized PnL (Futures)**
Funding and fees (Futures)**
Margin trading (Isolated)**
Margin trading (Cross)**

* If you are using API sync and have transferred fiat to Binance to buy crypto, you will need to upload an XLSX file in addition. See the section for ‘Buy Crypto History‘ below for how to export this file.

** You will need to create a separate wallet on Coinpanda to import your futures and margin trades. The same API keys can be used for all wallets.

Import trades automatically with API

To add your Binance account to Coinpanda, follow these steps:

1. Go to the Binance API page by hovering over the user icon in the top header and then click ‘API Management’.
   (https://www.binance.com/en/my/settings/api-management)
2. Click on ‘Create Tax Report API’.
3. Click ‘Get code’ to receive a verification code to your email address.
4. Enter the verification code and your 2FA code if required, then click ‘Submit’.
5. Copy the API Key and Secret Key to Coinpanda.​

Upload a CSV/XLSX file to Coinpanda

Trade History:

1. Go to the Trade History page by hovering over ‘Orders’ in the top header and click ‘Spot Order’.
   (https://www.binance.com/en/my/orders/exchange/openorder)
2. Click on ‘Trade History’ in the left menu, and then on ‘Export Trade History’ (top-right corner).
3. Next, click on ‘Beyond 6 months – Custom’ to export a maximum of one year of trade history for each file. Make sure to export files for ALL years you have traded on Binance.
4. Click ‘Generate’ to start the process of creating the file. This process can take anywhere from 15 minutes to 1 hour. You will receive an email notification from Binance when the file is ready to download.
5. Upload the CSV file(s) to Coinpanda after downloading.

Note: You can also export trade history for up to a maximum of 6 months by selecting ‘Within 6 months – Custom’ instead. This file will download directly without any waiting time. Remember to upload files for all months that you have traded on Binance.

P2P Orders:

1. Go to the P2P order page by hovering over ‘Orders’ in the top header and click ‘P2P Order’.
   (https://c2c.binance.com/en/fiatOrder)
2. Select the ‘All Orders’ tab.
3. Select ‘Completed’ in the Status dropdown and your desired date range.
4. Next, click on the ‘Export order list’ button (right side) to download the file.
5. Upload the XLSX file to Coinpanda.

Buy Crypto History:

1. Go to the Buy Crypto History page by hovering over ‘Orders’ in the top header and click ‘Buy Crypto History’.
   (https://www.binance.com/en/my/wallet/exchange/buysell-history)
2. Click the ‘Export’ button and select your desired time range. The max range is 3 months which means you will most likely need to export multiple files for all months you have bought crypto on Binance.
3. Click on ‘Export’ to download the file.
4. Next, select ‘Sell’ in the tab (top-left corner) and repeat the previous steps for your sell history.
5. Upload the XLSX file(s) to Coinpanda.

Binance does not allow exporting your conversions so this must be added manually.

Deposits and Withdrawals:

1. Go to the Transaction History page by hovering over ‘Wallet’ in the top header and click ‘Transaction History’.
   (https://www.binance.com/en/my/wallet/history/deposit-crypto)
2. Click on ‘Export Deposit History’ and select a custom time period (max 3 months).
3. Click ‘Export’ to download the file. Make sure to export the deposit history for all months.
4. Next, select ‘Withdraw’ in the ‘Type’ dropdown and repeat the previous steps for withdrawals by clicking ‘Export Withdrawal History’.
5. Upload the XLSX file(s) to Coinpanda.

You will need to export the deposit and withdrawal history for fiat as well if you want Coinpanda to display the correct wallet balance if you have not connected with API. However, this is not required for your tax calculations to be accurate!

Binance Statements CSV:

1. Go to the Transaction History page by hovering over ‘Wallet’ in the top header and click ‘Transaction History’.
   (https://www.binance.com/en/my/wallet/history/deposit-crypto)
2. Click on ‘Generate all statements’ in the top-right corner.
3. Select a custom time period (max range is 3 months). Make sure that you generate files for all months/years you have traded on Binance.
4. In the account dropdown, select only the following options:
   • Spot
   • P2P
   • Savings
   • Pool
   • Pay
   • Third-party wallet
5. Click ‘Generate’ and download the file when ready.
6. Upload the CSV file(s) to Coinpanda.

Binance limitations

Both the Binance API and file export functionality (web interface) have several limitations which are very important to be aware of.

1. Trades made with delisted coins cannot be synced from API. If you have such trades, we recommend enabling the Skip entire history option and uploading your historical transactions with CSV/XLSX files instead. The alternative is to add trades with delisted coins manually.
2. Crypto purchased directly with fiat are not available from the API. This applies also to ‘Convert’ transactions. You will need to upload an XLSX file as explained here.
3. For some users, the API provides data for dust to BNB conversions from the past 15 days only. You will need to check if all transactions have been imported or not after the API sync has completed. Missing transactions must be imported manually since Binance does not allow exporting the completely history as XLSX/CSV file either.
4. Not all reward transactions (distributions, airdrops, bonuses, liquidity rewards, etc) are made available from the API. You will need to go to this page and check if all transactions have been imported from API to Coinpanda.
5. Referral commissions are not imported from API either. You will need to export your ‘Commission History’ AND ‘Commission Fees Shared With You’ from this page and then upload the files to Coinpanda.
6. Margin trading is currently not supported since Binance does not provide PnL data from either cross or isolated margin which is typically the data required for tax calculations. However, we are working on adding full support for Binance margin trading later this year. This requires us to do major fundamental changes to our calculation engine which will take time to complete. Current ETA is October 2021 for this update to go live.

We recommend using the Coinpanda generic file (.XLSX or .CSV format) whenever you need to import transactions manually.