How to Report Binance on Your Taxes
Binance generates transaction records across spot trading, Earn, staking, and conversions - but none of it is in a format you can file. You need to calculate gains from 75+ different operation types, separate income from capital events, and map everything to your country's tax forms. Here's how.
Skip the manual work. Upload your Binance CSV exports and DYOR.tax parses all 75+ operation types, calculates your gains, and generates a filing-ready report.
Try the Binance Calculator →What Binance activity is taxable
Binance activity spans several categories, and the tax treatment differs by type. Missing any of these is one of the most common filing errors for Binance users.
Taxable disposals (capital gains or losses):
- Spot trades - selling crypto for fiat or another crypto
- Convert - disposing of one asset to acquire another
- Small Assets Exchange - converting dust balances to BNB
- BNB used to pay trading fees - each fee payment is a disposal of BNB at market price
Taxable income (reported separately from capital gains):
- Binance Earn distributions
- Flexible savings interest
- Staking distributions and BNB Vault rewards
- Referral commissions
Not taxable:
- Depositing fiat or crypto into your Binance account
- Withdrawing to your own wallet (same person, different address)
- Buying crypto with fiat
Step 1 - Export your Binance transaction history
Binance provides a single comprehensive export that covers all activity types.
- Log in to binance.com (or binance.us for US users)
- Click the Wallet icon and go to Asset History
- Click the export icon and select Export Transaction Records
- Set time range to cover your full trading history, keep timezone as UTC (default), and click Generate
- Download the CSV when ready
This export includes spot trades, Earn distributions, staking rewards, deposits, withdrawals, and BNB fee payments in one file. Include your complete history from account opening for accurate cost basis.
Step 2 - Calculate your gains
Binance has specific complexity that catches most traders off guard:
- BNB fee disposals. Every time you pay a trading fee in BNB, you dispose of BNB at its market value at that moment. This is a taxable event - a small gain or loss per fee. Active traders may have hundreds of these.
- Small Assets Exchange. Converting small dust balances to BNB is a taxable conversion for each asset exchanged. This is often overlooked because it looks like a housekeeping action.
- Convert function. Using Convert disposes of the asset you're selling and acquires the asset you're buying. Both sides need cost basis tracking.
- Earn distributions. Each Earn or staking payout is income at fair market value on the date received. When you later sell those tokens, the income value becomes your cost basis.
Upload your Binance CSV to DYOR.tax and all 75+ operation types are parsed automatically. BNB fee disposals, Earn income, and conversions are each handled correctly.
How to report Binance taxes by country
United States
Binance.com is not available to US residents. If you used Binance.US, the export process is the same through binance.us. Binance does not issue 1099 forms for most users. Do not assume that the absence of a 1099 means tax authorities have no visibility into your activity.
Capital gains go on Form 8949 and Schedule D. Staking and Earn income goes on Schedule 1. Short-term gains (held 1 year or less) are taxed as ordinary income; long-term gains (held more than 1 year) are taxed at 0%, 15%, or 20%. Filing deadline: April 15.
United Kingdom
Capital gains go on SA108 Cryptoassets. HMRC requires Section 104 pooling - assets held in a pool with a weighted average cost that updates with each acquisition. DYOR.tax handles this automatically for UK users.
Staking income generally goes on SA100 Other Income, if the activity does not amount to a trade. Annual exempt amount: £3,000 (2024/25). Filing deadline: January 31.
Canada
Capital gains go on Schedule 3 using the Adjusted Cost Base (ACB) method. The current capital gains inclusion rate is 50% under the Income Tax Act. Staking and Earn income are reported as other income. Filing deadline: April 30.
Australia
Capital gains are reported in your individual income tax return. The calculator applies FIFO for cost basis. The 50% CGT discount applies if you held the asset for 12 months or more before disposing. Staking and Earn rewards are ordinary assessable income. Filing deadline: October 31.
India
All VDA gains are taxed at a flat 30% under Section 115BBH, plus applicable surcharge and cess. Report on ITR-2 or ITR-3, Schedule VDA. Binance, as a foreign exchange, typically does not deduct the 1% TDS - you are responsible for self-reporting. Losses cannot be offset between different crypto assets. Filing deadline: July 31.
What DYOR.tax handles from Binance
Binance's CSV exports are more complex than most exchanges because of the volume and variety of operation types. DYOR.tax handles:
- All 75+ Binance operation types parsed automatically
- BNB fee disposals identified and calculated as separate taxable events
- Small Assets Exchange treated as taxable conversions for each dust asset
- Earn and staking income separated from capital gains in your report
- Both binance.com and binance.us CSV formats supported
Preview is always free. The paid PDF report includes trade-by-trade P&L, income summary, and a country-specific filing guide.
Common Binance tax mistakes
- Using the wrong export. The Trade History export under Orders only covers spot trades. Use the Asset History export under Wallet instead - it includes trades, Earn, staking, and all other operation types in one file.
- Ignoring BNB fee payments. Each BNB fee payment is a disposal. Active traders paying fees in BNB can have hundreds of small taxable events they've never accounted for.
- Treating Small Assets Exchange as non-taxable. Converting dust to BNB is a taxable conversion for each small balance exchanged, not just a cleanup action.
- Using only the current year's export. Cost basis for assets sold this year depends on when you first bought them. You need your complete history from account opening, not just 2025.