Overview of cryptact tax reports

This page explains about the breakdown of tax reports. 

Please note that tax reports are available only to cryptact's paid users: pricing chart

If you want to know how to download the tax reports and transaction history, please refer to this help page. 

1. Canada 

The financial year is from January 1st to December 31st by defalut. Please ensure that your reporting currency is "CAD", cost basis method is the average cost (ACB), and the timezone of your location is selected. You can change these settings from the Settings page if needed. 

• Capital gains summary 
  • Proceeds from sales -
    • This represents the total amount you received from all your disposals. The figure may be higher than expected if you reinvested proceeds from previous trades.
  • Aquisition costs (Adjusted cost basis) -
    • The total cost incurred to acquire the assets, including any trading fees.
  • Net gains -
    • The overall profit from your trades, calculated as total gains minus losses.
• Income summary 
  • Total income - The total amount of the following items:
    • Bonus 
      • Including airdrop, campaign bonus etc. 
    • Staking
      
      • Sum of the profits earned through staking 
    • Lending
      • Sum of the profits earned through lending
    • Mining
      • Sum of the profits earned through mining
    • Others 
      • The total of other types of transactions profit/loss subject to income tax. (e.g. profit/loss caused by liquidity staking) 
•  Expenses
  • Total expenses - The total amount of items below:
    • Blockchain transfer fees 
      • Fees paid to transfer your assets between accounts 
    • Borrowing fees 
      • Fees paid to borrow assets
    • Custom expenses 
      • Items input as "expense" by the custom file 
    • Others
      • The total of other expenses (e.g. payment for service and goods using fiat currency) 

2. Other supported countries (including US and Japan)

• Cryptact offers transaction history (excel). 
• If you file taxes in Japan, you can proceed with tax filing using the current cryptact features. Please refer to our blog for a guide on how to file taxes by yourself using Cryptact.  https://www.cryptact.com/en/blog/cryptocurrency-how-to-taxfiling-en