The tax season is quickly approaching, and you should slowly finalize your tax reports.
Trading on KuCoin, like on all other exchanges, is subject to either capital gains or income tax, depending on various factors. Besides trading, KuCoin provides a wide range of other tools you need to pay taxes on, like staking or lending.
Fortunatelly, creating a tax report or exporting your whole KuCoin transaction history is hard. And if you use a specialized crypto tax calculator or applications, KuCoin gives you the option to connect it by API.
In this article, you’ll find out how to export your transaction history on KuCoin and also how to get your API key to automate your crypto tax report.
How to Export your Trade History on KuCoin
Whether you are doing your taxes manually or have software for that purpose connected by API, it’s always a good idea to factually verify the information. Let’s take a look at how to generate your transaction history.
1. Log in to your KuCoin Account
The first step is quite obvious. You need to log in to your account.
After you enter your email and password, you’ll hit a landing page from where we can continue.
2. Access the Trade History Page
On the right side of the top bar, you can see a bunch of icons. Hover over the second icon from the left, the one that looks like a little notebook.
A drop-down menu will appear. Here you can check your active spot, margin, or futures orders and also access the history of these trades. That’s what the last three items on this menu are for.
- Spot Trade History is a history of your normal buy/sell orders using your own money.
- Margin Trade History is a history of trades performed with leverage, with borrowed money. These trades can be in the form of longing and shorting, as you can also “bet” for the price to go down.
- With Futures, you are not buying or selling crypto but a derivative contract. With that, you are agreeing to buy or sell a specific asset (crypto) at a specific future date for a set price.
It’s best to click through all three transaction histories and see if you have made a trade or not. After all, a year is a long time to remember everything.
3. Configure Exported Transaction History
Once you open one of the trade types, you’ll get to a screen where you can configure how the history file will be exported.
Although it’s best to export entire history, including all types of orders and trading pairs, you might be looking for a specific trade, and this gives you the option.
On the history page, you can configure the Time period, Trading pair, the way of the trades, and also order types.
- When it comes to the time period, you can export only a maximum of 100 days at a time. Thus, if you want to export all trades made in the past year, you must split them into four reports.
- In the second field, you can select specific trading pairs to be exported. For instance, you might be looking to export all trading pairs made with USDT, all BTC trades, etc.
- In the side field, you can choose to export only buy or only sell orders.
- And the type field offers you a way to choose the order types. You can choose from limit orders, market orders, stop-loss orders, and OCO orders.
4. Export your KuCoin Trade History to CSV
Once you configured the report to your liking, you can export it to CSV using the green button. You’ll get a message to wait for the generation to complete.
There is also another way to generate your transaction history. That’s using an “export history” button, which you can also find on that page.
Using this way, you can actually generate a whole year at once. We didn’t mention this earlier since this feature is limited to only five reports a month. It’s probably better to use the green export option first to be sure everything is right, then proceed to the limited export.
5. Wait for the Report to Generate
On the very top of the screen, you can see a notification tab with the bell icon. Once your report is ready, you’ll get an alert there.
Once it’s ready for download, click the notification, and the CSV file should automatically download onto your computer.
How to Integrate Crypto Tax Tool via KuCoin API
If you are using one of many tools for generating tax reports on your crypto gains, you’ll be prompted to get your KuCoin API key.
To do that, log in to your account first. Then in the top right corner, hover over your profile icon and go to “API management.”
To create an API key, you first need to secure your account if you haven’t yet done so. KuCoin won’t let you continue without confirming your email and setting a trading password and 2FA.
You can then see an overview of your created API keys and also a “Create API” button. Tap that.
This will get you to a confusingly looking page.
First, give your key a name. This should reflect the purpose of it; for instance, “Taxes.” In the second field, create a password.
You should not tick any other boxes. Generally speaking, API keys can give anyone full access to your account. That’s why there are restriction options that you should use to give users and tools only read-only permission.
In the “IP Restriction” section, check the no option. That’s because the tool won’t have the same IP address as you.
To finish the set up, you must verify your trading password, email, and 2FA code. You’ll then receive an email with an activation link for your API key. Click it, and your API will become active. Then just paste it into your tax tool.
Conclusion
To report your KuCoin gains and losses to the IRS, you essentially have two options. You can either generate a file containing all your transactions or you can use a crypto tax tool.
In the second case, you must generate the KuCoin API key and provide it to the software.
Whether way you choose, it’s an easy process, requiring only a few minutes of your time.