Follow the steps below and get insights into your Palm blockchain portfolio and crypto taxes, stress free with Kryptoskatt
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How To Calculate Your PALM Taxes With Kryptoskatt
If you are using PALM, 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.
To get started – Sign up on Kryptoskatt here and choose your country and currency.
Once done, link your PALM wallet to Kryptoskatt.
View and analyze all your transactions in a single dashboard and manage your portfolio
Kryptoskatt automatically categorizes all your PALM transactions into gains/losses or income.
Now you can sit back and relax while we calculate your Capital Gains Tax and Income Tax from PALM DeFi!
Generate the PALM tax report for free and download it once everything looks good.
File your PALM taxes online or leverage our crypto tax accountant network to help you out.
How To Connect PALM With Kryptoskatt
On PALM :
Go to your browser-based PALM wallet.
It can be Metamask, Ledger, or any wallet that supports the PALM Mainnet. For this guide, we’ll be sticking to Metamask.
On your wallet, make sure that you’ve selected PALM Mainnet as your primary network.
Click on Import Your Transactions. All transactions are directly imported and tagged by default.
If you wish to import custom history, select Advanced Options. Now you can specify the start and end date of your transaction history.
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 PALM 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 PALM 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, PALM, BNB, ETH, etc.), you incur capital gains tax.
Essential things to keep in mind while integrating PALM
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 PALM 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 firstname.lastname@example.org.
Ready To Experience A Stress-Free Crypto Tax Journey?
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