Coinpanda integrates directly with Indodax to simplify your tax reporting. Learn how to calculate your taxes and generate all required tax documents for Indodax quickly.
If you have been trading, staking, or earning crypto on Indodax, you must also calculate your taxes for all transactions. Coinpanda makes calculating crypto tax for Indodax quick and easy by following these steps:
Create a free account and connect Indodax to Coinpanda safely and securely
Next, Coinpanda will import all your trades, deposits, withdrawals, and rewards from Indodax
Wait for Coinpanda to automatically calculate capital gains and income for your Indodax transactions
Download your Indodax tax report
File your Indodax taxes before the deadline
Supported transactions
To calculate your taxes accurately, you must import all transactions from Indodax to Coinpanda. Coinpanda supports the following transactions from Indodax today:
Tx Type
API import
CSV file upload
Deposits
Withdrawals
Trades
RECOMMENDED
How to connect Indodax with API
We are only requesting view permissions. This does not give us access to your private keys or the ability to move your funds.
Follow these steps to add your Indodax account to Coinpanda with API:
Click the menu button in the top right and then ‘Trade API’
Enter a name for your API key (ex: Coinpanda)
Make sure that ‘Trade’ and ‘Deposit & Withdraw’ permissions are unchecked
Enter your 2FA code and click ‘Activate Trade API’
Click the confirmation link in the email
Copy the API key and Secret key to Coinpanda
How to connect Indodax with CSV
Follow these steps to export your transactions from Indodax:
Click the menu button in the top right and then ‘History’
Click the ‘Trade History’ tab and select a date range (maximum 30 days)
Select the coin pair from the ‘Market’ menu and click ‘View History’
Click on ‘Export CSV’ to download the CSV file
Repeat the previous steps for all pairs you have traded
Upload all the CSV files to your Indodax wallet in Coinpanda
How are Indodax transactions taxed?
The exact tax implications on Indodax transactions depend on which country you live in and the type of transactions you have made. In general, you must pay either capital gains tax or income tax on your cryptocurrency transactions on Indodax.
Capital gains tax: Whenever you sell a cryptocurrency for more than you purchased it for, you generate a capital gain. On the other hand, if you sell the cryptocurrency for less than you paid initially, you have a capital loss, which can offset other gains in most cases.
Income tax: Earned cryptocurrency on Indodax, such as staking, interest, bonuses, and referral rewards, is typically seen as taxable income from a tax perspective and must be reported in your tax return.
To learn more about how Indodax transactions are taxed in your country, we recommend reading our in-depth guides to cryptocurrency taxes.
How do I file my Indodax taxes?
First, you must calculate capital gains and income from all taxable transactions on Indodax. When you have this information ready, you can report capital gains and income together with other forms of income such as employment and dividends in your annual tax return.
To calculate your capital gains, you must first export a complete history of all transactions made on Indodax. Once you have this data, you can calculate your capital gains or losses by determining the price at which you bought the cryptocurrency (your cost basis) and the price at which you sold it (your proceeds). Luckily, Coinpanda can help you with this and generate ready-to-file tax forms quickly and easily.
After downloading your Indodax tax statements from Coinpanda, the last step is to report the capital gains and income on your tax return before the deadline. Most countries allow you to self-declare taxes online in 2023, but you can also get help from a professional tax accountant to file taxes for you.
Calculate your Indodax taxes
Sign up free today to calculate your Indodax taxes
How do I troubleshoot the imported Indodax transactions to Coinpanda?
While we strive every day to ensure the highest possible accuracy for importing transactions from Indodax to Coinpanda, it can happen that either not all transactions are imported or that some data is imported incorrectly. Some reasons for this can be:
Changes in the Indodax API
Updated CSV file format
Indodax does not provide a complete record of all transactions
To get the best help from Coinpanda support, you must first identify which transactions are missing or incorrectly imported. To do this, we recommend comparing your transaction history on Indodax with the transactions imported into your Coinpanda account. See also our help article with an overview of known exchange API limitations.
The quickest way to get help from our dedicated support team is to send a message in the Live Chat.
No, Indodax does not provide complete and ready-to-file tax documents. This is because Indodax does not have knowledge of your transactions on other exchanges, platforms, or from your self-custody wallets.
How do I get Indodax tax documents?
The easiest way to get tax documents and reports is to connect your Indodax account with Coinpanda which will automatically import your transactions. After that, you can download complete tax reports for Indodax.
Does Indodax provide financial or end-of-year statements?
No, Indodax does not provide a complete financial or end-of-year statement for your crypto transactions. However, you can get this using a crypto tax calculator.
Do I have to pay taxes on Indodax?
Yes, all transactions on Indodax involving the disposal of a crypto asset are in most cases taxable. You must also pay income tax on earned crypto such as staking, interest, or referral rewards.
Is transferring to Indodax taxable?
No, transferring cryptocurrency to Indodax is not taxed as long as you transfer between your personal wallets or exchange accounts.
How do I avoid paying taxes on Indodax?
It is impossible to avoid paying taxes completely on Indodax legally if you live in a country that taxes cryptocurrency. However, there are several ways you can reduce your taxes, such as tax loss harvesting.
Can Indodax calculate my taxes?
Indodax cannot calculate your taxes since it does not have knowledge of your transactions made on other exchanges or platforms. However, if you have only interacted with crypto on Indodax your entire life, it could technically do so.
Is Indodax safe?
Indodax is generally considered to be a safe exchange. Although Indodax follows industry best practices for safety and to prevent malicious attacks, there is always a risk associated with keeping your crypto on centralized third-party exchanges including Indodax.
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