How to connect 1inch Wallet with Kryptos & Generate Tax Reports

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How to connect 1inch Wallet with Kryptos & Generate Tax Reports

by
Varun Mehra
Reviewed by
5
min read
Last updated:
2023-08-30
Follow the steps below and get insights into your 1inch Wallet and file your crypto taxes stress free with Kryptos

How To Calculate Your 1inch Wallet Taxes With Kryptos

If you are using 1inch wallet, follow these steps to connect it with Kryptos – auto-sync all your transactions, analyze your portfolio, and calculate your crypto taxes in minutes.

  1. To get started – Sign up on Kryptos here and choose your country and currency.
  2. Once done, link your 1inch wallet to Kryptos. 
  3. View and analyze all your transactions in a single dashboard and manage your portfolio
  4. Kryptos automatically categorizes all your 1inch transactions into gains/losses or income.
  5. Now you can sit back and relax while we calculate your Capital Gains Tax and Income Tax from your 1inch wallet!
  6. Generate the 1inch tax report for free and download it once everything looks good.
  7. File your 1inch taxes online or leverage our crypto tax accountant network to help you out.

How To Connect 1inch Wallet With Kryptos 

  1. Go to kryptos.io & sign up using your Google account.
  2. From the menu, click on Add Wallets/Exchanges. Go to the Wallets/Exchanges page.
  3. Search for 1inch or select it from the list below.
  4. Now, click on the 1inch icon.
  5. Click on “Connect with 1inch Wallet
  6. Scan the QR on your 1inch mobile application and tap on “Connect
  7. Kryptos will automatically read all the wallet addresses.
  8. Click on “Import your Transactions
  9. Sit back and let Kryptos synchronize with all of your wallets from 1inch.

How to download 1inch Wallet Tax Reports

  1. Once synchronization finishes, head to Reports under Menu on Kryptos.
  2. Under summary, click on the Download Tax Report button.
  3. Choose your Tax Report Type and click on download. 

How are 1inch transactions taxed?

The crypto tax laws may vary depending on the country you reside in and other factors such as your filing status, income bracket, and marital status. But, in general, there are mainly two types of taxes applicable to 1inch Wallet transactions.

  • Income Tax- If you are earning rewards (e.g. through lending or staking) or receiving, you may need to pay income tax.
  • Capital Gains Tax- If you profit from the disposal of your crypto assets (e.g. by selling your tokens, UNI, WETH, SNX, etc.), you incur capital gains tax.

Essential things to keep in mind while integrating 1inch Wallet

  • In your wallet, make sure you’ve selected the correct networks before integrating them.
  • Do not use your private keys for integrations on Kryptos.

Facing Issues While Connecting 1inch Wallet To Kryptos?

Go to Resources and head over to the Help Centre page from the dropdown menu. Or send us your queries via the Support Desk. If a critical or urgent issue needs to be resolved, you can use our live chat option on the right side of the screen or email us at support@kryptos.io.

Ready To Experience A Stress-Free Crypto Tax Journey?

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