How to connect Uphold with Kryptos & Generate Tax Reports

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How to connect Uphold with Kryptos & Generate Tax Reports

by
Varun Mehra
Reviewed by
5
min read
Last updated:
2023-09-19
Follow the steps below and get insights into your Uphold holdings and file your crypto taxes stress free with Kryptos

How To Calculate Your Uphold Taxes With Kryptos

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

How To Connect Uphold With Kryptos 

On Uphold :
  1. Access Uphold’s activity page.
  2. Click the dropdown icon next to transactions.
  3. Choose “Download as CSV

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 Uphold or select it from the list below.
  4. Now, click on the Uphold 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 Uphold 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 Uphold 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 Uphold 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, BAT, HBAR, etc.), you incur capital gains tax.

Essential things to keep in mind while integrating Uphold

  • Make sure to upload the complete wallet history to avoid errors in tax and capital gains calculations.

Facing Issues While Connecting Uphold 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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