How to connect Safello Wallet with Kryptos & Generate Tax Reports

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How to connect Safello Wallet with Kryptos & Generate Tax Reports

by
Varun Mehra
Reviewed by
Sukesh Tedla
5
min read
Last updated:
2023-07-04
Follow the steps below and get insights into your Safello wallet and file your crypto taxes stress free with Kryptos

How To Calculate Your Safello Taxes With Kryptos

If you are using Safello wallet, follow these steps to connect it with Kryptos – auto-sync all your transactions, analyze your portfolio, and calculate your crypto taxes in minutes. We help users with Defi Taxes and show their DeFi portfolio overview as well.

  1. To get started – Sign up on Kryptos here and choose your country and currency.
  2. Once done, link your Safello wallet to Kryptos. 
  3. View and analyze all your transactions in a single dashboard and manage your portfolio
  4. Kryptos automatically categorizes all your Safello 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 Safello wallet!
  6. Generate the Safello tax report for free and download it once everything looks good.
  7. File your Safello taxes online or leverage our crypto tax accountant network to help you out.

How To Connect Safello With Kryptos Using CSV

On Safello :

  1. Login to your Safello account.
  2. Download a copy of your Transaction history in a CSV file.

On Kryptos :

  1. Go to kryptos.io & signup using your Google account.
  2. From the menu, click on Add Wallets/Exchanges. Go to the Wallets/Exchanges page.
  3. Search for Safello or select it from the list below.
  4. Now, click on the Safello icon.
  5. Choose Upload CSV.
  6. Click on Import Your Transactions. All transactions are imported and tagged by default.
  7. If you wish to import custom history, select Advanced Options. Now you can specify the start and end date of your transaction history.

How to download Safello 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 Safello 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 Safello 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, BTC, XRP, ETH, etc.), you incur capital gains tax.

Facing Issues While Connecting Safello 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.

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