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How to Report Your XDC Network (XinFin) Taxes

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

API Import
CSV File Upload
Connect to XDC Network (XinFin)

Supported transactions

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

Tx TypeAPI import
DepositsCheck solid green
WithdrawalsCheck solid green

How to connect XDC Network (XinFin) 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 XDC Network (XinFin) public address you add. You will most likely find your public address after logging in to your XDC Network (XinFin) 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.

How to connect XDC Network (XinFin) with CSV

Follow these steps to export your transactions from XDC Network (XinFin):

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 XDC Network (XinFin) transactions taxed?

The exact tax implications on XDC Network (XinFin) 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 XDC Network (XinFin) transactions except transfers between your own wallets.

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

How do I file my XDC Network (XinFin) taxes?

First, you must calculate capital gains from all taxable XDC Network (XinFin) 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 XDC Network (XinFin) 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 XDC Network (XinFin) 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 XDC Network (XinFin) taxes

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How do I troubleshoot the imported XDC Network (XinFin) transactions to Coinpanda?

While we strive every day to ensure the highest possible accuracy for importing transactions from XDC Network (XinFin) 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 XDC Network (XinFin) API
  • Updated CSV file format
  • The XDC Network (XinFin) 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 XDC Network (XinFin) 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.

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Frequently asked questions

How do I get XDC Network (XinFin) tax documents?

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

Do I have to pay taxes for XDC Network (XinFin)?

Yes, all transactions on XDC Network (XinFin) 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 XDC Network (XinFin) taxable?

No, sending XDC Network (XinFin) is not taxed as long as you transfer between your personal wallets or exchange accounts.

How do I avoid paying taxes for XDC Network (XinFin)?

It is impossible to avoid paying taxes completely for XDC Network (XinFin) 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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