Coinpanda integrates directly with Plus500 to simplify your tax reporting. Learn how to calculate your taxes and generate all required tax documents for Plus500 quickly.
If you have been trading, staking, or earning crypto on Plus500, you must also calculate your taxes for all transactions. Coinpanda makes calculating crypto tax for Plus500 quick and easy by following these steps:
Create a free account and connect Plus500 to Coinpanda safely and securely
Next, Coinpanda will import all your trades, deposits, withdrawals, and rewards from Plus500
Wait for Coinpanda to automatically calculate capital gains and income for your Plus500 transactions
Download your Plus500 tax report
File your Plus500 taxes before the deadline
Supported transactions
To calculate your taxes accurately, you must import all transactions from Plus500 to Coinpanda. Coinpanda supports the following transactions from Plus500 today:
Tx Type
API import
CSV file upload
Deposits
Withdrawals
Realized P&L
How to connect Plus500 with API
Plus500 does not support API connection at the moment. Please upload a CSV file with your transactions instead.
How to connect Plus500 with CSV
Follow these steps to export your transactions from Plus500:
Only realized pnl transactions are currently supported. You will need to import your deposits and withdrawals manually until this can be exported from Plus500.
How are Plus500 transactions taxed?
The exact tax implications on Plus500 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 Plus500.
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 Plus500, 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 Plus500 transactions are taxed in your country, we recommend reading our in-depth guides to cryptocurrency taxes.
How do I file my Plus500 taxes?
First, you must calculate capital gains and income from all taxable transactions on Plus500. 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 Plus500. 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 Plus500 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 Plus500 taxes
Sign up free today to calculate your Plus500 taxes
How do I troubleshoot the imported Plus500 transactions to Coinpanda?
While we strive every day to ensure the highest possible accuracy for importing transactions from Plus500 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 Plus500 API
Updated CSV file format
Plus500 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 Plus500 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, Plus500 does not provide complete and ready-to-file tax documents. This is because Plus500 does not have knowledge of your transactions on other exchanges, platforms, or from your self-custody wallets.
How do I get Plus500 tax documents?
The easiest way to get tax documents and reports is to connect your Plus500 account with Coinpanda which will automatically import your transactions. After that, you can download complete tax reports for Plus500.
Does Plus500 provide financial or end-of-year statements?
No, Plus500 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 Plus500?
Yes, all transactions on Plus500 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 Plus500 taxable?
No, transferring cryptocurrency to Plus500 is not taxed as long as you transfer between your personal wallets or exchange accounts.
How do I avoid paying taxes on Plus500?
It is impossible to avoid paying taxes completely on Plus500 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 Plus500 calculate my taxes?
Plus500 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 Plus500 your entire life, it could technically do so.
Is Plus500 safe?
Plus500 is generally considered to be a safe exchange. Although Plus500 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 Plus500.
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