How To Calculate Your Fantom Taxes With Kryptoskatt

If you are using Fantom, follow these steps to connect it with Kryptoskatt – 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 Kryptoskatt here and choose your country and currency.
2. Once done, link your Fantom wallet to Kryptoskatt. 
3. View and analyze all your transactions in a single dashboard and manage your portfolio
4. Kryptoskatt automatically categorizes all your Fantom 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 Fantom DeFi!
6. Generate the Fantom tax report for free and download it once everything looks good.
7. File your Fantom taxes online or leverage our crypto tax accountant network to help you out.

How To Connect Fantom With Kryptoskatt 

On Fantom :

1. Go to your browser-based Fantom wallet.
2. It can be Metamask, Ledger, or any wallet that supports the Fantom Mainnet. For this guide, we’ll be sticking to Metamask.
3. On your wallet, make sure that you’ve selected Fantom Mainnet as your primary network. 
4. Copy your wallet address.

On Kryptoskatt :

1. Go to kryptoskatt.com & signup using your Google account.
2. From the menu, click on Add Wallets/Exchanges. Go to the Wallets/Exchanges page.
3. Search for Fantom or select it from the list below.
4. Now, click on the Fantom icon.
5. Name your wallet anything you would like.
6. Paste your Fantom wallet address.
7. Click on Import Your Transactions. All transactions are directly imported and tagged by default.
8. If you wish to import custom history, select Advanced Options. Now you can specify the start and end date of your transaction history.
9. Sit back and let Kryptoskatt generate the report for you!

Integrating EVMs automatically with Ethereum Address

Kryptoskatt supports a multi-integration mode which is the first of its kind in the Crypto Space. Just integrate your Ethereum wallet & Kryptoskatt will automatically identify the EVM chains linked to your Ethereum wallet address.

While integrating your Ethereum wallet, select all the EVM chains that you want to generate your tax reports from & Kryptoskatt will automatically import all the transactions. 

In the above example, while integrating the Ethereum wallet, Kryptoskatt detected Arbitrum linked with the same address.

From here, you can choose to select or deselect the EVM & generate your DeFi tax reports Stress-Free!

How are Fantom 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 Fantom 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, FTM, GLMR, ETH, etc.), you incur capital gains tax.

Essential things to keep in mind while integrating Fantom

• In your wallet, make sure you’ve selected the correct network.
• Do not use your private keys for integrations on Kryptoskatt.

Facing Issues While Connecting Fantom To Kryptoskatt?

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@kryptoskatt.com.