Step 4: Declare your taxes
Carl Gärdsell avatar
Written by Carl Gärdsell
Updated over a week ago

Congratulations you made it to the final step! The process will differ depending on what country you are declaring taxes in. Fear not, Divly has detailed guides on how to declare your crypto taxes for every country we support.

Download your crypto tax report

In Divly, go to the page Tax Report to begin the final process. You will be able to see a generic summary of your crypto taxes for every year. These numbers are purely informative and should not be used to declare your taxes.

In the top left, make sure to select the year you are declaring for. If you are declaring for the tax year 2023, please select 2023.

Tip: You can use Divly to declare your taxes for all previous years you have missed. In most countries you can declare for missed years without facing a tax penalty (if done proactively). Don't let your taxes keep you awake at night!

If you have followed this guide and reviewed your portfolio, click the button Generate Tax Report 20XX to create your tax report. You will need to have paid for the current year to download the crypto tax report in a format that can be submitted to the local tax authority.

Tax report page

Each country will have different options on what report to generate. If you are unsure which one applies to you, select the report that has the recommended tag.

The report will show up below and you can click it to download The Divly Tax Report. It will be stored on Divly in your account if you need to download it again.

Note: Once you have paid, you will be able to generate the report as many times as you want for that year. You can make edits in your Divly account and create a new report whenever necessary.

Declare your taxes to the local tax authority

The Divly Tax Report is customized to fit each country's tax requirements and filing process. When you open the PDF you will be greeted with clear instructions and a link to a guide that explains exactly how you declare the contents to your local tax authority.

Preview of the Divly tax report

You can download an example crypto tax report for every country supported by Divly. It also includes links to the tax report guides for every supported country.

Once you have followed the instructions in the report and declared your crypto taxes, you are done! Time to celebrate and breathe a sigh of relief.

Lock your transaction history

It is suggested that you lock your transactions until the end of the latest tax year you have successfully declared for. This ensures that you wont accidently overwrite or delete your past transactions. Divly will prompt you to do this after you have generated your tax report.

Note: The lock feature is reversible and you can always unlock your transactions later. However, we don't recommend unlocking it after you have declared.

Keep your portfolio up to date

When you have gone through the process once, the following years are usually a lot easier to manage since all your previous transactions will already have been imported and accounted for.

From here on out you can keep using Divly throughout the year to update and check your taxes on an ongoing basis. Try to use Divly to help you make more informed decisions about your crypto portfolio and taxes. In many countries you can offset your gains with your losses to minimize the taxes you pay.

If you have any further questions, please feel free to reach out to our support team on Divly in the chat box found in the bottom right hand corner. We are here to help! :)

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