How to Generate Your Crypto Tax Reports in CoinLedger: A Fresh Step‑by‑Step Guide

james

— 2 min read

Managing crypto taxes can feel intimidating, but CoinLedger makes it simple. Follow these steps to create accurate, IRS-compliant (or local-compliant) reports with ease.

Step 1: Sign Up and Log In

  1. Visit CoinLedger.io and click Sign Up.
  2. Enter your email, create a strong password, and verify your account.
  3. Log in to access your personal dashboard.

Pro Tip: Enable two-factor authentication for extra security.

Step 2: Add Your Exchanges and Wallets

  1. On the dashboard, select Add Wallet / Exchange.
  2. Choose your exchange (e.g., Coinbase, Binance) or wallet (e.g., MetaMask, Ledger).
  3. Connect via:
    • API Key: automatically pulls transaction history
    • CSV Upload: for exchanges without API support or older transactions
  4. Repeat for all wallets and exchanges you’ve used during the tax year.

Tip: CoinLedger highlights any missing transactions so you can fill gaps before generating reports.

Step 3: Review and Categorize Transactions

  1. Go to the Transactions section.
  2. Check each entry for accuracy—buys, sells, trades, staking rewards, and airdrops.
  3. Categorize any unrecognized transactions (CoinLedger often auto-suggests categories).

Pro Tip: Proper categorization now prevents errors on your tax forms later.

Step 4: Configure Your Tax Settings

  1. Navigate to Settings → Tax Settings.
  2. Select your country/jurisdiction.
  3. Choose your cost basis accounting method: FIFO, LIFO, or HIFO.
  4. Confirm the tax year and select the type of report (capital gains, income, or both).

Step 5: Preview Your Tax Summary

  1. Go to Tax Reports → Summary.
  2. Review your:
    • Total gains and losses
    • Income from mining, staking, and airdrops
    • Gains per cryptocurrency
  3. Check for flagged or unusual transactions and correct them before report generation.

Step 6: Generate the Tax Report

  1. Click Generate Report.
  2. Choose the format:
    • PDF for personal records
    • CSV / Excel for accountants or tax software
    • IRS forms (Form 8949 / Schedule D) if filing in the US
  3. CoinLedger will automatically calculate your capital gains, losses, and income.

Step 7: Export to Tax Software (Optional)

  1. If using software like TurboTax, H&R Block, or TaxAct, you can directly import your CSV or PDF report.
  2. Follow the prompts in your tax software to integrate the data.

Tip: Keep the downloaded forms; they are useful for audits or corrections.

Step 8: Save and Back Up Your Records

  1. Store your reports and transaction data in multiple locations: cloud storage + offline backup.
  2. Retain your records for 5–7 years, depending on local regulations.

Extra Tips for Accuracy

  • Double-check flagged transactions to avoid mistakes.
  • Use the audit trail in CoinLedger to see how each gain/loss was calculated.
  • Consult a crypto tax professional if you have complex trades, NFTs, or DeFi activity.

This workflow ensures your CoinLedger tax report is accurate, organized, and ready for submission.

If you want, I can also create a “visual step-by-step infographic” version of this guide that fits on a single page for easy reference. It would look like a cheat sheet for quick tax season use.

Read more