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How to do your KuCoin taxes in 2022
| Transaction type | File Import | Automatic Import |
|---|---|---|
| Withdrawals | ||
| Deposits | ||
| Trades | ||
| Trading Fees | ||
| Futures | ||
| Isolated Margin | ||
| Cross Margin |
Introduction to KuCoin
KuCoin is a cryptocurrency exchange that allows for users to buy, sell, and trade cryptocurrencies. It also offers margin, futures, and peer-to-peer (P2P) trading. Users can also choose to stake or lend crypto to earn income. KuCoin offers over 600 cryptocurrencies including but not limited to Bitcoin, Ethereum, Tether, and Dogecoin.
KuCoin has been headquartered in Seychelles since its founding in 2017. It has grown into one of the largest global exchanges by trade volume, and has 10 million users.
Do I need to pay taxes when using KuCoin?
Depending on the country you pay taxes in and the type of transactions you have made, you may need to pay taxes on your KuCoin crypto transactions. If you are unsure, you can try Divly's Crypto Tax Widget which can give you a better indication based on your country's tax rules.
For more information regarding your country-specific crypto tax guidelines, please see Divly's crypto tax guides. These guides are regularly updated with input from our knowledgeable staff and local experts.
How to export your KuCoin transaction history
You can import transactions from KuCoin into Divly by downloading and importing a CSV file. Make sure to download the CSV file every time you want to include the latest transactions. Programmers can also use their API to retrieve historic transaction information.
Automatic import
You can import your transactions by using the KuCoin API.
Important
KuCoin API only fetches limited historical trade data for the past 6 months. If you are using the API, you may need to complement the transaction history with CSV files using the File Import.
Step by step guide:
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Sign in to KuCoin.
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Click on your account and navigate to the ‘API Management’
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Once there, click on ‘Create API’. You will create a ‘API Name’ and an ‘API Passphrase’
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Leave the ‘API Restriction’ on General and the ‘IP RestrictionCurrent IP’ to No limit.
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Create the API, and fill in your trading password, email code, and verification code.
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Once all that is completed, a confirmation email will be sent. Click generate the API key.
File import
You can import transactions from KuCoin into Divly by downloading and importing a CSV file. Make sure to download the CSV file every time you want to include the latest transactions.
Important
KuCoin has multiple types of files that export the same transactions. Below we list the different methods. We recommend using Method 1 if possible.
Method 1
Because of the constraints with KuCoin CSV files' time periods and the way transaction data is divided into different files, it is suggested that you reach out to KuCoin support rather than attempting to export the files on your own.
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Go to KuCoin support submit a request and select Account as the Issue Type and then set the Account Issue to Export Trade History.
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Wait for KuCoin customer support to send you the transaction file. The file should contain the tabs trade | payment and your whole transaction history.
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Upload the file to Divly.
Method 2
This method allows you to download transaction files from the platform.
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Sign in to KuCoin.
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Hover over Orders and click Spot Trade History. Click the grey button Export History in the top right.
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Select all files in first selection. Then select the date range.
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Choose File type .csv and click the button Confirm(5 Times Remaining).
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Upload the files that have transaction information to Divly. If a file will not upload, contact Divly support. KuCoin is consistently adding new files here so we may need to update our import logic.
Method 3
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Sign in to KuCoin.
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Deposits: In the top right click Assets > Main Account > History (Deposit & Withdrawal) tab. Click the Export History to download 100 days of deposit or withdrawal history at a time.
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Withdrawals: Same as above, but select Withdrawal history before clicking Export History.
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Trades: In the top right hover over Orders and click Spot Trade History. Navigate to the Trade History tab. Set the date range and click the button Export to CSV.
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Futures: In the top right hover over Orders and click Futures Trade History. In the left menu, click on PNL History. Set the time-frame and click the button Save as CSV. The file should include the words "PNL History".
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Isolated Margin / Cross Margin: In the top right hover over Orders and click Margin Trade History. Select either Cross Margin Account or Isolated Margin Account in the header tab. Navigate to the Trade History tab and click the button Export to CSV.
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Drag and drop the CSV files to where it says Upload CSV. Divly will import the transactions.
KuCoin transaction types
We have categorized KuCoin transactions and their available export method in the below table. We have also provided information about how these transactions are handled when imported into Divly for relevant users.
Withdrawals
Withdrawals refer to crypto transactions sent out of a KuCoin account. If you sent your crypto to another crypto wallet you own, make sure it is matched as a Transfer to avoid it being treated as a sale. If the withdrawal refers to a P2P trade, gift, buying goods/services, or another transaction type, please label it accordingly when using Divly. The transaction type applied can affect your taxes.
Deposits
Deposits refer to crypto transactions being sent to your KuCoin account. If you received crypto from another crypto wallet you own, make sure it is matched as a Transfer to avoid it being treated as a purchase. If the deposit refers to a received gift, mining income, or another transaction type, please label it accordingly when using Divly. The transaction type applied can affect your taxes.
Trades (spot)
Crypto trades refer to crypto being purchased for fiat, crypto being sold for fiat, or trading one cryptocurrency for another. These transactions are all taxable in most countries.
Trading Fees
Fees are included in the trade and will be paid in either fiat or a cryptocurrency, depending on the trade. Make sure to apply the fee in your tax calculations, as it can help reduce your taxes. If you use Divly, this will be handled automatically for you.
Futures
Realized PNL refers to profit to agreements to buy or sell an amount of an underlying crypto between two counterparties at a specific price at a specific date and time at some point in the future. Future trading allows for you to gain exposure to a wide range of cryptocurrencies without ever having to purchase them. It can also be used to hedge exposure against market movements.
Common issues when calculating your KuCoin taxes
It can be frustrating finding and downloading your transaction history from KuCoin. There are many files with time-limit horizons, and the API only allows trades to be fetched from the last 6 months. In this case you can contact KuCoin support to ask for one file with all your transaction history and use that to import all your transactions.
Any tax-related information provided by us is not tax advice, financial advice, accounting advice, or legal advice and cannot be used by you or any other party for the purpose of avoiding tax penalties. You should seek the advice of a tax professional regarding your particular circumstances. We make no claims, promises, or warranties about the accuracy of the information provided herein. Everything included herein is our opinion and not a statement of fact. This article may contain affiliate links.