How to connect Trezor Model One with Kryptoskatt & Generate Tax Reports

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How to connect Trezor Model One with Kryptoskatt & Generate Tax Reports

by
Varun Mehra
Reviewed by
5
min read
Last updated:
2023-08-23
Follow these steps below and get insights into your Trezor Model One wallet and file your crypto taxes stress free with Kryptoskatt

How To Calculate Your Trezor Model One Taxes With Kryptoskatt

If you are using Trezor Model One, follow these steps to connect it with Kryptoskatt – auto-sync all your transactions, analyze your portfolio, and calculate your crypto taxes in minutes.

  1. To get started – Sign up on Kryptoskatt here and choose your country and currency.
  2. Once done, link your Trezor Model One wallet to Kryptoskatt. 
  3. View and analyze all your transactions in a single dashboard and manage your portfolio
  4. Kryptoskatt automatically categorizes all your Trezor Model One 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 your Trezor Model One!
  6. Generate the Trezor Model One tax report for free and download it once everything looks good.
  7. File your Trezor Model One taxes online or leverage our crypto tax accountant network to help you out.

How To Connect Trezor Model One With Kryptoskatt 

On Trezor Model One App:

  1. Go to your Trezor Model One app on your Android or iOS device.
  2. Select your blockchain on the search bar. We currently support Bitcoin, Ethereum, Arbitrum, Cardano, BNB Chain, Avalanche, Fantom, Optimism and Polygon (MATIC). We’re constantly adding new blockchains for Trezor Model One!
  3. Copy your wallet address belonging to that particular blockchain.

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 Trezor Model One or select it from the list below.
  4. Now, click on the Trezor Model One icon.
  5. Select your blockchain & name your wallet anything you would like.
  6. Paste your blockchain address.
  7. Click on Import Your Transactions if you wish to proceed with single-blockchain integration, however, if you want to add multiple blockchains, repeat steps 5 & 6 and then click on Import your Transactions.
  8. Sit back and let Kryptoskatt synchronize with all of your wallets from Trezor Model One. 

How to download Trezor Model One Tax Reports

  1. Once synchronization finishes, head to Reports under Menu on Kryptoskatt.
  2. Under summary, click on the Download Tax Report button.
  3. Choose your Tax Report Type and click on download. 

How are Trezor Model One 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, etc. But, in general, there are mainly two types of taxes applicable to Trezor Model One 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, BTC, OP, ETH, etc.), you incur capital gains tax.

Essential things to keep in mind while integrating Trezor Model One

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

Facing Issues While Connecting Trezor Model One 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.

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