Gate.io is a top choice for investors seeking access to a vast array of elusive cryptocurrencies. With over 1,300 available coins, including most of the top 20 market cap cryptos and lesser-known coins, it’s easy to see why it ranks among the investors favorite. Advanced trading features, margin trading in select countries, and acceptance of roughly 50 fiat currencies add to the appeal.
Crypto investors using Gate.io need to stay informed about the tax implications of their activities. KoinX offers a comprehensive solution to managing crypto taxes, portfolios, and accounting with its user-friendly automated systems. As the leading tax-calculation platform for crypto users in India, KoinX is an excellent tool for those who trade on Gate.io.
This post provides a detailed guide on how to generate a Gate.io tax report using KoinX, making it easy for traders to manage their taxes while staying compliant.
How To Generate Your Gate.io Tax Report With KoinX
KoinX allows you to calculate your crypto taxes with ease. Here’s how you integrate it with Gate.io:
Step 1: Visit the Gate.io website and log into your account using your credentials.
Step 2: Once you are in, click on ‘Asset’, which is present at the top right of the screen.
Step 3: In the ‘Asset’ dropdown menu, select ‘Transaction History.’
Step 4: Once the ‘Request batch data’ window appears, click ‘Date’
Step 5: Select the date range for which you want the transaction history.
Note: Select a time period not exceeding 90 days. So, if you want the Tax Report for the whole financial year, do this step four times.
Recommendation: It’s better to choose 85 days for an error-free process.
Step 6: Click on “Submit Application” to create the file.
Step 7: Next click the “To Audit” option, and download the file.
Step 8: Log in to your KoinX account.
Step 9: Click on the Integration tab in the top navigation bar.
Step 10: Click on the “Add Integration” on the Integration page.
Step 11: Type in ‘Gate.io’ on the search bar and click on its Icon.
Step 12: Upload the downloaded ‘Transaction History’ on the space and click Submit.
Step 13: Next click the “Update Existing Integration” option and you are done!
Watch How To Generate Your Gate.io Tax Report With KoinX
Take the first step in managing your crypto taxes by watching our tutorial on how to generate your Gate.io tax report with KoinX and make tax season hassle-free with KoinX.
Important Things To Consider
- Please note that KoinX currently does not fetch your trades in real-time from Gate Exchange. To ensure that your latest transactions are properly synced, we kindly request that you generate and upload the latest “Trade Reports” following the steps mentioned above. Thank you for your cooperation.
- Please ensure to download the transaction reports since the day you have created your Gate account. This will help us highlight any missing transaction and ensures that your calculations are accurate and complete.
- To avoid any irregularities in calculation of profits, we recommend you to review your imported transactions on our transactions page.
How To Easily Calculate & File Your Gate.io Taxes using KoinX
Step 1: Add all the chains and exchanges where you have an account.
KoinX supports a wide range of major crypto exchanges and wallets, which enables anyone to conveniently import all their transaction data, in one place.
Step 2: Review your transactions.
KoinX will automatically categorise all transactions and compute gains and losses accordingly, ensuring 100 percent accuracy and compliance with the latest tax regulations.
Note: If you see warnings in your portfolio, refer to this article to fix the issues.
Step 3: Generate your tax reports for the selected Financial Year
You have the option to categorise your trades as Capital Gains or as Business Income.
If you are trading in crypto as a secondary source of income (like just passively investing for returns) then please select Capital Gains.
If you are trading with the intent of making crypto as your primary source of income, then please select Business Income.
KoinX produces all the essential tax reports while providing a clear breakdown of your crypto tax obligations.
Step 4: File your taxes
Export tax reports directly from KoinX and import them into your preferred tax software, or provide them to your tax professional for swift and hassle-free filing.
Frequently Asked Questions
Do I need to report my Gate.io for tax purposes?
If you have a crypto portfolio, you need to report your profits according to tax laws in your country.
Does Gate.io provide tax reports?
No, Gate.io doesn’t provide any tax reports. It only provides you with a transaction history, which you can upload to KoinX to calculate your taxes.
How are Gate.io transactions taxed in India?
In India, Gate.io transactions are covered under tax jurisdiction, which means a 30% tax on profits and a 1% TDS on all transactions.
How does Gate.io's tax reporting with KoinX work?
After the Gate.io and KoinX integration, you are presented with a tax report that gives you a comprehensive overview of the taxes you’re liable to pay on your trades.
What are the most common issues with importing transactions from Gate.io to KoinX?
Even though the KoinX-Gate.io integration is seamless, there are instances where you sometimes upload the wrong file or submit the wrong report to KoinX. Try double-checking the file before uploading.
If you are facing any issues, please feel free to contact our support team.
How do I troubleshoot my integration with KoinX?
If you encounter any issues despite following the above steps, don’t hesitate to contact our support team through our live chat, social media (Twitter), or by emailing.
You can also visit our help centre.
Our customer support executives will respond promptly and will be glad to assist you with any questions you may have.
Does KoinX support exchanges other than Gate.io?
Yes, KoinX supports a variety of major cryptocurrency exchanges and wallets, including Binance, Coinbase, Bitfinex, and others. This enables you to import all of your transaction data from various sources and precisely calculate your cryptocurrency taxes in a single location. With KoinX, you can effortlessly manage your whole cryptocurrency portfolio and tax filing procedure.
