OKX is a cryptocurrency platform that offers a variety of services, including a crypto exchange, with low exchange fees. It provides easy ways to buy crypto using cards, bank accounts, or mobile wallets, and high yields for staking and saving features.
KoinX simplifies managing crypto taxes, portfolios, and accounting with its easy-to-use automated systems. This enables investors to become more responsible and compliant. KoinX is now the number one tax-calculating platform for crypto users in India.
This post shows an in-depth explanation of how to generate your OKX tax report from KoinX.
A step-by-step guide on how to generate your OKX tax report with KoinX
KoinX allows you to calculate your crypto taxes with ease. Here’s how you integrate it with OKX:
Step 1: Go to the OKX (OKEx) website and log in using your email/phone number and password.
Step 2: Once you’re logged in, you’ll see the “Assets” button on the top right-hand side of the page. Click on it to proceed.
Step 3: From the Assets page, select the “Order Center” option.
Step 4: In the Order Center page, find the “Trading Account” section and click on the “History” option.
Step 5: On the Trading Account History page, click on the “Download” button to begin the download process for your CSV files.
Step 6: After clicking the “Download” button, you’ll be prompted to set the date range for your CSV files. Select the appropriate date range and click on the “Export” button.
Step 7: Once the export process is complete, you’ll receive a notification that your files are ready to download. Click on the “Download” button to retrieve them.
Step 8: From the Order Center page, navigate to the “Funding Account” section and click on the “History” option.
Step 9: Set the appropriate date range for your Funding Account History and click on the “Export” button to begin the download process.
Step 10: Log in to your KoinX account.
Step 11: Click on the “Integrations” section in the navigation bar.
Step 12: From the Integrations page, select the “Exchanges” category and find the OKX exchange. Click on it to proceed.
Step 13: On the OKX Integration page, you’ll see two separate sections for “Trading Account” and “Funding Account.” Upload your CSV files in the respective sections.
Step 14: After uploading your CSV files, hit the “Submit” button.
Watch how to generate your OKX tax report with KoinX
Take the first step in managing your crypto taxes by watching our tutorial on how to generate your OKX tax report with KoinX and make tax season hassle-free with KoinX.
Important Things to Consider While Generating Your OKX Tax Report with KoinX
- Please note that KoinX currently does not fetch your trades in real-time from OKX 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 OKX 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 OKX 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 OKX for tax purposes?
If you have a crypto portfolio, you need to report your profits according to tax laws in your country.
Does OKX provide tax reports?
No, OKX 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 OKX transactions taxed in India?
In India, OKX transactions are covered under tax jurisdiction, which means a 30% tax on profits and a 1% TDS on all transactions.
How does OKX's tax reporting with KoinX work?
After the OKX 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 OKX to KoinX?
Please make sure to upload the downloaded files under the correct subheading to avoid any errors. If you are facing any issues, please feel free to contact our support team.
How do I troubleshoot my integration with KoinX?
For any troubles related to integration, you can carefully navigate through the steps once again mentioned in our guide. Alternatively, you can also reach out to us on Twitter or write to us at support@koinx.com.
