How to do your BlockFi taxes & integrate BlockFi with Accointing
Connect BlockFi with Accointing via API or CSV - use our free portfolio tracker, or calculate your BlockFi taxes with Accointing for mobile and desktop
BlockFi is one of the most trusted crypto wallets and exchanges ideal for crypto investors after exchanges with unique products and features like crypto-backed loans and rewards credit cards. It supports only eight of the well-renowned crypto coins, also excluding fiat currencies.
How does BlockFi tax reporting work?
BlockFi is a robust exchange and wallet for devoted crypto traders. But when it comes to tax reporting, it doesn’t offer much to allow you to file your taxes. Luckily, Accointing’s BlockFi tax calculator and portfolio tracker for transaction history analysis and tax reporting. You can generate your tax reports in the specific format required by your country.
To begin, you’ll have to integrate your BlockFi account with Accointing then import your trade and transaction history. Here are the different ways to do that:
CSV – download your BlockFi transaction data and import it into Accointing.
Accointing template – fill out our easy-to-use template, fill it out, and upload it to Accointing.
Integrate with Accointing via the BlockFi API
BlockFi currently does not provide an API for its platform. As such, users have to use the approach of importing a CSV file into Accointing. Thankfully, there are no prior modifications required to the file before upload. If your transactions are very few, then you may use the Accointing template to fill out and upload.
Integrate with Accointing via the BlockFi CSV/XLSX file
You can link your BlockFi account with Accointing by importing a CSV file containing your history of trades, withdrawals, and deposits. Here is a simple guide to go about it.
Downloading CSV files from BlockFi
Login to your BlockFi account.
On the top right corner, click the profile icon and select Reports from the dropdown.
Scroll down the page to the All transactions option and specify your date range then click the download button.
If you don’t want to set the date, simply click the Download All button.
Importing CSV files into Accointing
Login to your Accointing profile.
Under the Wallets menu, click Add wallet option.
In the search input, type BlockFi and click on it from the list.
Next, select the File import option then click Continue.
Enter the wallet name as BlockFi.
Click on the Deposits and Withdrawals option to browse the downloaded CSV file.
Specify the period or select All to import all your data.
Click Save to start the import process.
How to review and track your BlockFi transactions in Accointing
Once through with importing transactions from BlockFi, go to your Accointing dashboard and view a summary of your investment profile.
Pick the applicable start and end dates to begin analyzing the performance history, gains, and losses of your BlockFi portfolio.
Peruse through the different crypto assets. Click to start analyzing your buy and sell dates. Select multiple assets at the same time to compare the performance for chosen dates.
You’re set to start monitoring your portfolio, distribution, and spread. You can also determine where the different BlockFi assets are kept, whether in exchanges or wallets.
Common issues with importing transactions from BlockFi
BlockFi currently doesn’t provide an API option so users have to rely on the CSV import option. One of the challenges of importing CSV from BlockFi is that some transactions may appear skipped. These include ACH withdrawals, cc trading rebates, and crypto transfers.
Please note that this is a bug on BlockFi’s side and their support team is constantly working to rectify these issues. If you encounter these problems, you can request BlockFi customer support to send you an updated CSV file of your account’s transactions.