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How to Report Your Redlight Network Taxes

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

API Import
CSV File Upload
Connect to Redlight Network

Supported transactions

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

Tx TypeAPI importCSV file upload
Deposits and withdrawalsCheck solid greenCheck solid green
Token swapsCheck solid greenCheck solid green
Liquidity miningCheck solid greenCheck solid green
Everything DeFiCheck solid greenCheck solid green
NFTsCheck solid greenCheck solid green
Bridged assetsCheck solid greenCheck solid green
Failed transactionsCheck solid greenCheck solid green
Smart contract executionsCheck solid greenCheck solid green
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How to connect Redlight Network 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.

Coinpanda will automatically sync all transactions from a Redlight Network public address you add. You will most likely find your public address after logging in to your Redlight Network wallet. Next, copy and paste the address into Coinpanda, and all transactions will be imported automatically!

Not sure how to find the public address of your wallet? We have written instruction articles for the most popular cryptocurrency wallets used today on our integration pages.

Remember that you must add all your wallet addresses to Coinpanda for your tax calculations to be accurate. This also includes wallet addresses you are not actively using anymore.

Due to the complexity of ETH and other EVM chains, we update the API integration for Redlight Network every week. If you suspect one or more transactions were previously not imported correctly, we recommend deleting and reimporting all transactions, which should normally fix the issue.

If you still see a transaction not imported correctly, please reach out to us so that we can look into it. We can usually fix any import errors within a few days.

How to connect Redlight Network with CSV

Follow these steps to export your transactions from Redlight Network:

Unfortunately, Redlight Network does not allow exporting your transaction history as a CSV file. Because of this, the best solution is to import using API in most cases. If you still want to use file upload, you can try exporting a CSV file from any block explorer instead.

You can also add transactions by uploading the Coinpanda generic file. We support both XLSX and CSV formats. Please follow the steps described in this guide.

How are Redlight Network transactions taxed?

The exact tax implications on Redlight Network transactions depend on which country you live in and the type of transactions you have made. However, in most countries, you must generally pay capital gains tax on all Redlight Network transactions except transfers between your own wallets.

To learn more about how Redlight Network transactions are taxed in your country, we recommend reading our in-depth guides to cryptocurrency taxes.

How do I file my Redlight Network taxes?

First, you must calculate capital gains from all taxable Redlight Network transactions. When this information is ready, you have everything you need to report capital gains in your annual tax return. However, the actual procedure for reporting crypto tax in the tax return might vary from country to country.

To calculate your capital gains, you must first export a complete history of all transactions made on the Redlight Network blockchain. 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 Redlight Network tax statements from Coinpanda, the last step is to report the capital gains 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 Redlight Network taxes

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How do I troubleshoot the imported Redlight Network transactions to Coinpanda?

While we strive every day to ensure the highest possible accuracy for importing transactions from Redlight Network 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 Redlight Network API
  • Updated CSV file format
  • The Redlight Network API 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 any Redlight Network block explorer with the transactions imported into your Coinpanda account. See also our help article with an overview of known blockchain 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

How do I get Redlight Network tax documents?

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

Do I have to pay taxes for Redlight Network?

Yes, all transactions on Redlight Network involving the disposal of a crypto asset are in most cases taxable. You must also pay income tax on earned crypto such as staking, airdrops, or interest rewards.

Is sending Redlight Network taxable?

No, sending Redlight Network is not taxed as long as you transfer between your personal wallets or exchange accounts.

How do I avoid paying taxes for Redlight Network?

It is impossible to avoid paying taxes completely for Redlight Network 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.

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