FTX is a globally renowned cryptocurrency derivative exchange that supports commonly traded cryptocurrencies. FTX has a one-of-a-kind platform and a utility token, FTT, allowing cryptocurrency traders to invest in Bitcoin and other altcoin derivatives and forex trading.
How does FTX tax reporting work?
If you’re looking for an FTX tax report, you’re in the right place. There’s no way to get such a tax report directly from FTX. However, you can use Accointing’s FTX calculator and FTX portfolio tracker to analyze your transaction history, calculate your FTX taxes and generate a tax report in the format specific to your country’s requirements.
First, you need to connect your account and import your FTX transaction and trade history into Accointing; there are several ways to do it:
- API - automatic and auto-syncing connection between FTX and Accointing
- CSV - export of transaction history from FTX and import into Accointing
- Accointing template - download our template, fill, and upload your data
Integrate with Accointing via the FTX API
Integrating your FTX account with Accointing is a straightforward process. Follow these steps to achieve it:
- Login to your FTX account, then head to your profile settings page.
- Scroll downwards to the API Keys section and click the “Create API Key” button.
- Proceed to copy the provided API Key and secret.
- Log in to your Accointing account.
- On the next window, select the “Automatic” option to initiate importing transactions into Accointing.
- Click the “Continue” button to proceed. Click the “Got it” button to progress to the next window.
- Next, specify your wallet name.
- Now, paste the previously copied API Key into the provided input field.
- Do the same with the Secret Key.
- Choose the date from which the data should be copied. For better results, select “All” from the dropdown. Otherwise, click the date icon to customize the start period. When done, click “Save.”
- Go back to FTX and close the API Key window. Then click the edit permissions icon, change it to “Read-only,” and close the popup.
- You’ve successfully integrated FTX with Accointing.
API supported features:
- Margin trades
- Staking rewards
API unsupported features:
Integrate with Accointing via the FTX CSV file
If you don’t want to link your FTX account with Accointing using the API, you can also do so by importing a CSV file containing your history of trades, withdrawals, and deposits. Here is a simple step to go about it.
Downloading CSV files from FTX
- Login to your FTX account.
- To download trades history, Click your profile on the top right corner.
- On the dropdown menu, select “Trade History.”
- Click the filter table icon and select “All” for all the items on the menu.
- Click the calendar icon and select “All” to include all the transactions.
- You can alternatively specify the period by selecting a start date and end date, then click the search button.
- Next, click the cloud icon and select CSV from the list to download the file.
- To download your deposit transactions, click the “Wallet” item at the top of the page.
- Click the “Deposits” tab and select the “Show time in UTC” checkbox.
- Click the date icon and set the date to include all deposit transactions.
- Click the cloud icon and select CSV to download the file.
- To download your withdrawals history, click the “Withdrawals” tab and repeat the steps as in the deposits history download.
Importing CSV files into Accointing
- Login to Accointing and select the “Add wallet” option from the “Wallet” menu.
- Click the “Wallet” option, and search for “FTX” in the search input field.
- Select FTX, then choose “Accointing’s template” and press Continue.
- Next, enter your wallet name, and select your applicable time zone.
- Click the CSV import option and browse the location of the trades CSV file and open the file.
- Select “All” from the import option dropdown. Choose the date to match your CSV file’s start and end dates.
- Click “Continue” to start importing the data.
- Repeat the same for the deposits and withdrawals CSV files.
How to review and track your FTX transactions in Accointing
- Once done with importing FTX transactions, proceed to the Accointing dashboard to view your portfolio summary.
- Select the relevant start and end dates to analyze your FTX performance history, profits, and losses.
- View and click the various cryptocurrency assets to analyze your buy and sell dates. You’ll also be able to pick more than one asset concurrently to make a performance comparison for selected dates.
- You can now keep track of your total FTX investments portfolio, distribution, and spread. Also, find out which assets are in what wallets or exchanges.
Common issues with importing transactions from FTX
Importing FTX transactions into Accointing is easy. However, you can experience a challenge where transactions are incorrectly listed as deposits or withdrawals. Always open the CSV file and go through it to ensure all the data is accurately referenced.