How to connect Metamask with Kryptos & Generate Tax Reports

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How to connect Metamask with Kryptos & Generate Tax Reports

by
Varun Mehra
Reviewed by
5
min read
Last updated:
2023-12-05
Follow the steps below and get insights into your Metamask wallet and file your crypto taxes stress free with Kryptos

How To Calculate Your Metamask Taxes With Kryptos

If you are using Metamask, 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 Metamask to Kryptos.
  3. View and analyze all your transactions in a single dashboard and manage your portfolio.
  4. Kryptos automatically identifies all the EVMs & categorizes all your Metamask 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 Metamask!
  6. Generate the Metamask tax report for free and download it once everything looks good.
  7. File your Metamask taxes online or leverage our crypto tax accountant network to help you out.

How To Connect Metamask With Kryptos 

  1. Go to Kryptos.com & sign up using your Google account.
  2. From the menu, click on Add Wallets/Exchanges. Go to the Wallets/Exchanges page.
  3. Search for Metamask in the search bar.
  4. Now, click on the Metamask icon.
  5. Click on “Connect with Metamask” 
  6. Add all the relevant accounts, and click on next and then click on Connect
  7. Kryptos will automatically read all the EVMs and you can select/deselect the relevant chains.
  8. Name your wallet anything you would like to, and click on “Import your Transactions
  9. Sit back and let Kryptos synchronize with all of your transactions on Metamask.

How to download Metamask 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 Metamask 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, etc.. But, in general, there are mainly two types of taxes applicable to Metamask 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, ETH, SNX, UNI, etc.), you incur capital gains tax.

Essential things to keep in mind while integrating Metamask

  • Make sure to integrate historical exchanges relevant to your transaction history overall.
  • Do not use your private keys for integrations on Kryptos.

Facing Issues While Connecting Metamask 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.com.

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