How to Report Your LocalBitcoins Taxes
Coinpanda has direct integration with LocalBitcoins 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 LocalBitcoins
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 LocalBitcoins to Coinpanda to calculate your taxes accurately. Coinpanda supports the following transaction types from LocalBitcoins today:
| Tx Type | API import | CSV file upload |
|---|---|---|
| Deposits |  | |
| Withdrawals | | |
| Trades | | |
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 LocalBitcoins account to Coinpanda, follow these steps:
- Click the user icon in the top-right corner, then ‘Settings’.
(https://localbitcoins.com/settings/) - Select the ‘Advanced’ tab.
- Click on ‘Manage Apps’ under the ‘Third-Party Applications’ section.
- Click on ‘New HMAC Authentication’.
- Type Coinpanda in the ‘Name’ field.
- Enable the ‘Read’ permission.
- Click ‘Create’.
- Under HMAC authentications you should see a new key with the name Coinpanda. Click on the name.
- Copy the API Key and API Secret to Coinpanda.
Only deposits and withdrawals from the past 30 days can be imported from API. You will need to upload a CSV file in addition if you have deposits/withdrawals older than that.
Upload a CSV file to Coinpanda
- Click the user icon in the top-right corner, then ‘Settings’.
(https://localbitcoins.com/settings/) - Select the ‘Security’ tab.
- Click on ‘View’ for Personal Data.
- Next, click on ‘Collect personal data’ and download the ZIP file when ready.
- The ZIP file will include several different files and folders. The only two files you should save are:
- contacts.csv (buy and sell history)
- transaction_history.csv (deposits and withdrawals)
- Upload the two CSV files to Coinpanda.
