Share this article →
How to Report Your Phemex Taxes
Coinpanda has direct integration with Phemex 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 Phemex
There are a few ways you can import your transactions to Coinpanda:
- API import: Connect your account directly using an API key. This is the simplest way to synchronize all your trades and transactions automatically. Simply follow the steps below to get your API key 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!
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 Phemex account to Coinpanda, follow these steps:
- Go to the Phemex website, hover over your email address in the top-right corner, then click ‘API Management’.
- Click the ‘Create new API key’ button.
- Select ‘Default API entry’ and click ‘Next’.
- Give your API key a name (ex: Coinpanda), make sure that ‘Don’t bind’ is selected, and select ‘Read-Only’ for permissions. Then click ‘Confirm’.
- Enter your 2FA code when asked.
- Copy your API Key and API Secret to Coinpanda.
The Phemex API has some limitations so that only the trade history (spot and contracts) from the past 2-3 months seems to be available from their API. If not all transactions are imported after API sync has completed, then please contact Phemex support about this issue. We are not able to import data that is not made available to us by Phemex.
Upload a CSV file to Coinpanda
Trade history (spot)
- Hover over ‘Assets’ in the top menu, then click ‘Spot History’ > Trade History’.
- Click on ‘Export Spot trade history’.
- Upload the CSV file to Coinpanda.
Note: You can also upload the order history CSV file if you prefer.
Deposits and withdrawals
- Hover over ‘Assets’ in the top menu, then click ‘Deposit’.
- Click on ‘View All’ a little bit down on the page.
- Click on ‘Export Deposit History’ and select a time range for your deposit history (max 3 months). Click ‘Export’ to download the CSV file.
- Repeat the previous step also for withdrawals by selecting ‘Withdraw’ in the tab.
- Upload the CSV file(s) to Coinpanda.
Phemex does not currently allow the export of Closed PnL which is necessary for tax calculations if you have traded futures. Note that you can also import the contract trade history CSV file, but this data cannot be used for tax calculations. The transactions imported will not affect any of your balances or gain/loss calculations.
Please contact Phemex support if you have any further questions regarding exporting CSV files.
Closed PnL using Coinpanda generic file
If not all Closed PnL transactions are imported from API, you can get around this by manually adding all profit and loss values to the Coinpanda generic file before uploading this file to your Phemex wallet on Coinpanda.
- Hover over ‘Assets’ in the top menu, then click ‘Contract History’ > ‘PNL Details’.
- Select the ‘Closed PNL’ tab.
- Copy all values from the last column ‘Realized PNL’ to Coinpanda’s generic file.
Positive values: Receive (Realized P&L)
Negative values: Send (Realized P&L)
Note that the ‘Realized PNL’ values include also any funding fees or exchange fees paid. It’s not entirely clear from a tax perspective if such fees can be considered as capital losses directly, so if you want to exclude this, then you can simply copy values from the ‘Closed PNL’ column instead.
This is how the Coinpanda generic Excel file will look like after adding all transactions:
You will need to do this for both the ‘BTC Contract Trade Account’ and ‘USD Contract Trade Account’ tab.
We recommend editing the generic XLSX file using Microsoft Excel since using other editing software might break the file format such that the file cannot be uploaded. If you prefer to use the generic CSV file instead, then we recommend using an editor such as Notepad++ which does not break the formatting by adding extra quotes to the columns. It is NOT recommended to edit CSV files using Microsoft Excel.
Should you have any further questions, please contact support:
See it for yourself
Sign up for free. Calculate your taxes in less than 15 minutes.