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How to Report Your Poloniex Taxes

Coinpanda integrates directly with Poloniex to simplify your tax reporting. Learn how to calculate your taxes and generate all required tax documents for Poloniex quickly.

API Import
CSV File Upload
Connect to Poloniex

You must create separate wallets on Coinpanda if you have traded futures or used margin on Poloniex. See our guides here: Poloniex Margin and Poloniex Futures

Supported transactions

To calculate your taxes accurately, you must import all transactions from Poloniex to Coinpanda. Coinpanda supports the following transactions from Poloniex today:

Tx TypeAPI importCSV file upload
Depositscheck solid greencheck solid green
Withdrawalscheck solid greencheck solid green
Tradescheck solid greencheck solid green
Airdrops, rewards, bonusescheck solid greencheck solid green
Margin trading*check solid greencheck solid green
Futures trading*check solid greencheck solid green

You must create a separate wallet on Coinpanda to import your futures and margin trades.

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How to connect Poloniex 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 Poloniex account to Coinpanda with API:

  1. Hover over the user icon in the top header and click ‘Profile’
    (https://poloniex.com/profile)
  2. Select the ‘API Keys’ tab
  3. If your API access is disabled: click ‘Enable API’
  4. Click the link in the verification email received
  5. Next, click the ‘Create New Key’ button
  6. Enter your 2FA code if necessary
  7. Check your email for a verification link from Poloniex
  8. Uncheck ‘Enable Trading’ and ‘Enable Withdrawals’
  9. Set IP access restriction to ‘Unrestricted’
  10. Copy your API Key and API Secret to Coinpanda

Only trade history after July 30, 2021, is available from API. You must upload a CSV file in addition to importing from API if you have older trades dating back before this date.

Coinpanda will import a single transaction for each completed order instead of individual trade transactions. This is done to make verifying the accuracy of the transactions easier and reduce the total calculation time. You will therefore see fewer transactions imported into your Coinpanda account compared to other similar tax platforms or portfolio trackers.

How to connect Poloniex with CSV

Follow these steps to export your transactions from Poloniex:

Trade History

  1. Go to the Wallet Activity page by clicking ‘Activity’ in the top menu
    (https://poloniex.com/activity/wallet/withdraw)
  2. Click on ‘Spot Orders’ and then ‘Trade History’
  3. Click on the ‘Export’ button
  4. Select ‘Any 1 year – custom’ and your desired date range
    NB! Coinpanda needs your transactions from all years!
  5. Click ‘Generate’ and then download the file when ready
  6. Upload your CSV file(s) to Coinpanda

Deposits and Withdrawals

  1. Go to the Wallet Activity page by clicking ‘Activity’ in the top menu
    (https://poloniex.com/activity/wallet/withdraw)
  2. Click on the ‘Export’ button
  3. Select your desired date range
    NB! Coinpanda needs your transactions from all years!
  4. Click ‘Download’
  5. Repeat the previous steps also for ‘Deposits’ and ‘Other’
  6. Upload your CSV file(s) to Coinpanda

How are Poloniex transactions taxed?

The exact tax implications on Poloniex 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 Poloniex.

  • 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 Poloniex, 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 Poloniex transactions are taxed in your country, we recommend reading our in-depth guides to cryptocurrency taxes.

How do I file my Poloniex taxes?

First, you must calculate capital gains and income from all taxable transactions on Poloniex. 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 Poloniex. 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 Poloniex 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 Poloniex taxes

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How do I troubleshoot the imported Poloniex transactions to Coinpanda?

While we strive every day to ensure the highest possible accuracy for importing transactions from Poloniex 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 Poloniex API
  • Updated CSV file format
  • Poloniex 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 Poloniex 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.

Start Live Chat!

Other options for contacting support:

01
Forum

Find answers in our community forum

02
Email

Create a support ticket by email

03
Twitter / X

Ask or send us a message on Twitter

04
Discord

Chat with our support team on Discord

Frequently asked questions

Does Poloniex provide tax documents?

No, Poloniex does not provide complete and ready-to-file tax documents. This is because Poloniex does not have knowledge of your transactions on other exchanges, platforms, or from your self-custody wallets.

How do I get Poloniex tax documents?

The easiest way to get tax documents and reports is to connect your Poloniex account with Coinpanda which will automatically import your transactions. After that, you can download complete tax reports for Poloniex.

Does Poloniex provide financial or end-of-year statements?

No, Poloniex 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 Poloniex?

Yes, all transactions on Poloniex 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 Poloniex taxable?

No, transferring cryptocurrency to Poloniex is not taxed as long as you transfer between your personal wallets or exchange accounts.

How do I avoid paying taxes on Poloniex?

It is impossible to avoid paying taxes completely on Poloniex 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 Poloniex calculate my taxes?

Poloniex 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 Poloniex your entire life, it could technically do so.

Is Poloniex safe?

Poloniex is generally considered to be a safe exchange. Although Poloniex 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 Poloniex.

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