If you have been trading, staking, or earning crypto on KuCoin Futures, you must also calculate your taxes for all transactions. Coinpanda makes calculating crypto tax for KuCoin Futures quick and easy by following these steps:
Create a free account and connect KuCoin Futures to Coinpanda safely and securely
Next, Coinpanda will import all your trades, deposits, withdrawals, and rewards from KuCoin Futures
Wait for Coinpanda to automatically calculate capital gains and income for your KuCoin Futures transactions
Download your KuCoin Futures tax report
File your KuCoin Futures taxes before the deadline
To calculate your taxes accurately, you must import all transactions from KuCoin Futures to Coinpanda. Coinpanda supports the following transactions from KuCoin Futures today:
CSV file upload
How to connect KuCoin Futures 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 KuCoin Futures account to Coinpanda with API:
Enter a name (Ex: Coinpanda) and the ‘API Passphrase’ field. The Passphrase will not be shown again, so remember to write it down.
Select ‘No’ for IP Restriction and then ‘Permanent’ in the dropdown below
Click ‘Next’, then enter your trading password, verification code, and 2FA code
Click the link in the email to activate the API keys
Copy the API Key, API Secret, and Passphrase created earlier to Coinpanda
It is important to be aware that the Realized P&L imported from the API is the total amount of Realized P&L of closed positions *and* funding costs and trading fees within the last 8 hours. Due to this, separate transactions for each funding payment and closed positions may not be imported, but the net gain/loss (wallet balance change) will still be 100% accurate.
How to connect KuCoin Futures with CSV
Follow these steps to export your transactions from KuCoin Futures:
Select a date range – this should cover your entire trading history on KuCoin Futures
Click ‘Download History’
Upload the CSV file to Coinpanda
How are KuCoin Futures transactions taxed?
The exact tax implications on KuCoin Futures 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 KuCoin Futures.
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 KuCoin Futures, 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 KuCoin Futures transactions are taxed in your country, we recommend reading our in-depth guides to cryptocurrency taxes.
How do I file my KuCoin Futures taxes?
First, you must calculate capital gains and income from all taxable transactions on KuCoin Futures. 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 KuCoin Futures. 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 KuCoin Futures 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 KuCoin Futures taxes
Sign up free today to calculate your KuCoin Futures taxes
How do I troubleshoot the imported KuCoin Futures transactions to Coinpanda?
While we strive every day to ensure the highest possible accuracy for importing transactions from KuCoin Futures 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 KuCoin Futures API
Updated CSV file format
KuCoin Futures 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 KuCoin Futures 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, KuCoin Futures does not provide complete and ready-to-file tax documents. This is because KuCoin Futures does not have knowledge of your transactions on other exchanges, platforms, or from your self-custody wallets.
How do I get KuCoin Futures tax documents?
The easiest way to get tax documents and reports is to connect your KuCoin Futures account with Coinpanda which will automatically import your transactions. After that, you can download complete tax reports for KuCoin Futures.
Does KuCoin Futures provide financial or end-of-year statements?
No, KuCoin Futures 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 KuCoin Futures?
Yes, all transactions on KuCoin Futures 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 KuCoin Futures taxable?
No, transferring cryptocurrency to KuCoin Futures is not taxed as long as you transfer between your personal wallets or exchange accounts.
How do I avoid paying taxes on KuCoin Futures?
It is impossible to avoid paying taxes completely on KuCoin Futures 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 KuCoin Futures calculate my taxes?
KuCoin Futures 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 KuCoin Futures your entire life, it could technically do so.
Is KuCoin Futures safe?
KuCoin Futures is generally considered to be a safe exchange. Although KuCoin Futures 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 KuCoin Futures.