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.
Prepare your tax forms for Binance
There are a few ways you can import your transactions to Coinpanda:
- API import: Connect your account directly using API keys. This is the simplest way to synchronize all your trades and transactions automatically. Simply follow the steps below to get your API keys (key + secret) and your tax forms will be ready shortly.
- File upload: You can also upload a CSV/Excel file instead of connecting your account with API keys by following the steps explained below.
- Add manual: The last option is to manually add transactions one by one from the Transactions page. This is only recommended if you have very few transactions.
Remember also to tag your transactions if you have received airdrops, forks or staking rewards!
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 |
|---|---|---|
| Deposits | ||
| Withdrawals | ||
| Trades | ||
| Airdrops | ||
| Interest Payments (Margin) | ||
| Realized PnL (Futures) |
Import trades automatically with API
We are only requesting view permissions. This does not give us access to your private keys nor the ability to move your funds.
To add your Binance account to Coinpanda, follow these steps:
- Go to the ‘API Management’ page by hovering over the user icon in the top header.
(https://www.binance.com/en/usercenter/settings/api-management) - Create a new API key by entering a label and clicking the ‘Create’ button.
- Click ‘Send code’ to receive a verification code to your email address.
- Enter the verification code and your 2FA code if required.
- Click ‘Edit restrictions’ and uncheck both ‘Enable Spot & Margin Trading’ and ‘Enable Withdrawals’ (only ‘Can Read’ should be checked).
- Remember to also check ‘Unrestricted’ for the IP access restrictions. Then click ‘Save’ to save the changes
- Copy your API Key and Secret Key to Coinpanda.
Binance API has certain limitations. Trades made with delisted coins cannot be synced. If you have such trades, we recommend enabling the Skip entire history option and uploading your historical transactions with XLSX files instead.
Upload a XLSX file to Coinpanda
Trade transactions:
- 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) - Click on ‘Trade History’ in the left menu, and then on ‘Export complete trade history’ (top right corner).
- You can export a maximum of 3 months of trade history for each file. Make sure to export files that include trades for ALL years and months you have traded on Binance.
- Click ‘Export’ to download the XLSX file.
- Upload your XLSX file(s) to Coinpanda.
Deposits and withdrawals:
- Go to the Spot Wallet page by hovering over ‘Wallet’ in the top header and click ‘Fiat & Spot’.
(https://www.binance.com/en/my/wallet/account/main) - Click ‘Transaction History’ in the left menu.
- Click on ‘Export Deposit History’ to download the XLSX file.
- Next, select ‘Withdraw’ in the ‘Type’ dropdown and repeat the previous step for withdrawals by clicking ‘Export Withdrawal History’.
- Upload your XLSX file(s) to Coinpanda.
Interest payments (Margin trading):
- Go to the Margin page by hovering over ‘Orders’ in the top header and click ‘Margin Order’.
(https://www.binance.com/en/my/orders/margin/openorder) - Click ‘Repayment’ in the left menu under the ‘Margin Orders’ menu.
- Click on ‘Export complete trade history’ and select a timeframe.
- Click ‘Ok’ to download the XLSX file.
- Upload your XLSX file(s) to Coinpanda.
Realized PnL (Futures trading):
- Go to the Futures page by hovering over ‘Orders’ in the top header and click ‘Futures Order’.
(https://www.binance.com/en/my/orders/futures/openorder) - Click ‘Transaction History’ in the left menu under the ‘Futures Orders’ menu.
- Click on ‘Export complete transaction history’ and select a timeframe.
- Click ‘Export’ to download the XLSX file.
- Upload your XLSX file(s) to Coinpanda.
Should you have any further questions, please contact support:
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