If you used Coinsquare to buy or sell digital assets in the 2021 tax year, you may need to report any capital gains that you’ve earned. To help you prepare for tax season, we’ve rolled out a self-service tax summary feature. Clients on the Coinsquare platform will now be able to download their transaction summaries directly from their profile.
In this guide, we will cover how to access your 2021 transaction history, and how to upload it to our tax preparation partner, CoinTracker, in order to get reportable gains & losses data.
Self-service summaries are available for Coinsquare clients, as well as any Coinsquare clients who have been migrated to the new Coinsquare Trade platform. For clients still on the older Coinsquare platform, our Support team can help you get access to your transactions summary. Please get in touch with them here.
How To Access Your Tax Reports
Sign in to the Coinsquare Trade web platform here.
In the top right corner, click on the drop-down next to your name, and select “Documents”
Under Statements & Reports, you should see two documents that are available to download by hitting the “Download” button:
CoinTracker 2021 Tax Summary: This document is compatible with CoinTracker, our tax-prep partner! Coinsquare clients can prepare up to 1000 Coinsquare transactions with CoinTracker for free, and receive 10% off any additional plan by using our discount link.
Generic 2021 Tax Summary: This document contains the same data as your CoinTracker file, but is in a generic format which can be used to file your own taxes or to upload with other tax-prep services.
How To Prepare a Tax Summary Using CoinTracker
Below, you’ll find instructions on how to upload your files from Coinsquare Trade into CoinTracker and prepare a gains/losses report that can be used for your tax filing. Don’t forget to use our discount link when signing up to get 1000 transactions prepared for free, and get 10% off any additional plans!
Create a CoinTracker account via our discount link
Once signed in, navigate to ‘Wallets’ and then click ‘add wallet’
Under wallet type, search for ‘Coinsquare’
You will be prompted to upload a .CSV file. Upload the file that you downloaded from Coinsquare Trade then click Import.
On the next page, you’ll see the results of your import. At this stage you can add any external wallets, and then hit ‘Sync wallets’ when done importing all wallets. Note that bringing in external wallets might add additional charges.
On the top navigation bar, hit Taxes and then select Tax Center to view your capital gains & losses. If you signed up using the Coinsquare link or discount code, you’ll see the gains/losses data right away.
Scroll down to the ‘Tax Reports’ section in the bottom-right. Here you’ll be able to download the Schedule 3 tax form which shows you which you can add to your tax report.
All done! You should now be able to see a total gains & losses data and a file that you can use to fill in the correct boxes on your tax return.
For any questions regarding accessing your files, you can contact our Support team by live-chat or by emailing firstname.lastname@example.org. For questions about CoinTracker’s service, including fees, pricing and product questions, you can get in touch with CoinTracker Support here.