If you have been trading, staking, or earning crypto on Uphold, you must also calculate your taxes for all transactions. Coinpanda makes calculating crypto tax for Uphold quick and easy by following these steps:
Create a free account and connect Uphold to Coinpanda safely and securely
Next, Coinpanda will import all your trades, deposits, withdrawals, and rewards from Uphold
Wait for Coinpanda to automatically calculate capital gains and income for your Uphold transactions
Download your Uphold tax report
File your Uphold taxes before the deadline
To calculate your taxes accurately, you must import all transactions from Uphold to Coinpanda. Coinpanda supports the following transactions from Uphold today:
CSV file upload
How to connect Uphold 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 Uphold account to Coinpanda with API:
Create a new Uphold wallet on Coinpanda and click ‘Auto-sync data’
Click ‘Connect with Uphold’
You will now be taken to Uphold.com to authorize the connection
If prompted, log in to your Uphold account
Wait for all transactions to be automatically synced to your account
How to connect Uphold with CSV
Follow these steps to export your transactions from Uphold:
Log in to your Uphold account
Click ‘More’ and then ‘Activity’ in the left-side menu
Next, click the icon in the top right corner
Click ‘Generate Report’
Wait for your email to arrive and download the CSV file
Upload the CSV file to Coinpanda
How are Uphold transactions taxed?
The exact tax implications on Uphold 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 Uphold.
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 Uphold, 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 Uphold transactions are taxed in your country, we recommend reading our in-depth guides to cryptocurrency taxes.
How do I file my Uphold taxes?
First, you must calculate capital gains and income from all taxable transactions on Uphold. 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 Uphold. 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 Uphold 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.
How do I troubleshoot the imported Uphold transactions to Coinpanda?
While we strive every day to ensure the highest possible accuracy for importing transactions from Uphold 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 Uphold API
Updated CSV file format
Uphold 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 Uphold 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, Uphold does not provide complete and ready-to-file tax documents. This is because Uphold does not have knowledge of your transactions on other exchanges, platforms, or from your self-custody wallets.
How do I get Uphold tax documents?
The easiest way to get tax documents and reports is to connect your Uphold account with Coinpanda which will automatically import your transactions. After that, you can download complete tax reports for Uphold.
Does Uphold provide financial or end-of-year statements?
No, Uphold 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 Uphold?
Yes, all transactions on Uphold 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 Uphold taxable?
No, transferring cryptocurrency to Uphold is not taxed as long as you transfer between your personal wallets or exchange accounts.
How do I avoid paying taxes on Uphold?
It is impossible to avoid paying taxes completely on Uphold 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 Uphold calculate my taxes?
Uphold 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 Uphold your entire life, it could technically do so.
Is Uphold safe?
Uphold is generally considered to be a safe exchange. Although Uphold 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 Uphold.