If you sell Bitcoin for a profit, use it to pay for services and products, or earn it as income, you are subject to taxation. This is called a capital gains tax, which is a tax on the gains you’ve made between purchase and sale. 

Your tax rate will depend on various factors. In the United States, if you held onto your Bitcoin for over a year, you may be eligible for a lower tax rate than if you held onto it for a shorter period of time. Other countries have different rules, and some pay zero taxes on crypto capital gains at all.

In case you’re subject to taxation in the U.S., you’ll need to export your Bitcoin transactions and export them for reporting. And you can easily do it through CoinLedger using our export feature. Here's the step-by-step:

  1. Download all your Bitcoin transactions in the required period of time. Check out how to use our export feature here

  2. Set up an account on CoinLedger.

  3. Click on Add account and search for Blockonomics. Select it and then click on Browse file to upload your CSV file.

    Click on Add account

    Search for Blockonomics

    Upload your file

  4. Once it’s uploaded, the software will show you all the transactions from that wallet during your chosen period of time. After that, you’re ready to move forward with your tax generation on CoinLedger to help gain your reports.

Important: this guide is specific for U.S. taxes. For other countries, make sure you look into national tax laws.

 Learn more about using our export feature to calculate your Bitcoin taxes in the U.S.: