Coinpanda integrates directly with Steem to simplify your tax reporting. Learn how to calculate your taxes and generate all required tax documents for Steem quickly.
Have you invested in Steem and made transactions from your wallet? If yes, you may need to calculate and report taxes for all your Steem transactions. Coinpanda can help you with calculating crypto tax for Steem by following these steps:
Create a free account and add your Steem addresses to Coinpanda safely and securely
Next, Coinpanda will import all your transactions from Steem
Wait for Coinpanda to calculate capital gains for your Steem transactions automatically
Download your Steem tax report
File your Steem taxes before the deadline
How to connect Steem with API
API from Steem is not supported because no functional API exists at the current time. We cannot add API support before a new API for Steem is available. Please get in touch with the Steem team if you have more questions.
For now, please import your transactions using CSV files instead.
How to connect Steem with CSV
Follow these steps to export your transactions from Steem:
Unfortunately, Steem 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 Steem transactions taxed?
The exact tax implications on Steem 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 Steem transactions except transfers between your own wallets.
To learn more about how Steem transactions are taxed in your country, we recommend reading our in-depth guides to cryptocurrency taxes.
How do I file my Steem taxes?
First, you must calculate capital gains from all taxable Steem 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 Steem 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 Steem 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.
How do I troubleshoot the imported Steem transactions to Coinpanda?
While we strive every day to ensure the highest possible accuracy for importing transactions from Steem 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 Steem API
Updated CSV file format
The Steem 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 Steem 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.
The easiest way to get tax documents and reports is to connect your Steem account with Coinpanda which will automatically import your transactions. After that, you can download complete tax reports for Steem.
Do I have to pay taxes for Steem?
Yes, all transactions on Steem 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 Steem taxable?
No, sending Steem is not taxed as long as you transfer between your personal wallets or exchange accounts.
How do I avoid paying taxes for Steem?
It is impossible to avoid paying taxes completely for Steem 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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