How to Report Kraken on Your Taxes

Kraken's ledger export contains everything your tax authority needs - but not in a format you can file. You need to calculate capital gains using the correct cost basis method for your country, separate staking income, and handle refid-paired trades correctly. Here's how to do it.

Skip the manual work. Upload your Kraken ledger and DYOR.tax handles refid pairing, staking income, and cost basis calculations automatically. Free instant preview.

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What Kraken activity is taxable

Taxable disposals - each creates a capital gain or loss:

Taxable income - reported separately from capital gains:

Not taxable:

Step 1 - Export your Kraken ledger

Use the Ledger export, not Trade History. Trade History covers spot trades only and will miss staking rewards, deposits, and withdrawals.

  1. Log in to kraken.com
  2. Click your profile icon (top right) and select Documents
  3. Click Create Export
  4. Select Ledger as the export type
  5. Set the date range to cover your full history - essential for accurate cost basis from prior years
  6. Ensure the format is CSV, then click Generate
  7. Download when ready - the file arrives as a .zip
  8. Upload the .zip directly, or extract ledgers.csv first

The Ledger export includes all deposits, withdrawals, trades, staking rewards, transfers, and margin activity in a single file. This is the complete record DYOR.tax uses to calculate your taxes.

Step 2 - Understand Kraken's unique CSV format

Kraken uses refid pairing - each trade generates two ledger rows linked by a shared refid (reference ID). One row records the asset you sold, the other records the asset you received. This is different from Coinbase and Binance, which use single-row trade records.

DYOR.tax handles refid pairing automatically. You don't need to process it manually or modify the export in any way.

Staked asset suffixes (ETH.S, DOT.S, XTZ.S, etc.) appear in the Ledger when you hold staked versions of tokens. These are treated as separate assets for cost basis purposes and are handled correctly by the calculator.

Step 3 - Calculate your gains by country

United States

Capital gains go on Form 8949 and Schedule D. FIFO cost basis applies unless you specifically identified lots. Short-term gains (held 1 year or less) are taxed as ordinary income; long-term gains (held more than 1 year) qualify for lower rates.

Staking rewards go on Schedule 1 as ordinary income. Kraken shut down its US staking program in February 2023, but historical rewards from prior years still need to be reported. Filing deadline: April 15.

United Kingdom

Capital gains go on SA108 Cryptoassets within Self Assessment. HMRC requires Section 104 pooling - a specific matching method that applies same-day and 30-day B&B rules before pooling. CGT rates are 18% (basic rate taxpayer) and 24% (higher rate), updated October 2024.

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. Canada uses the ACB (Adjusted Cost Base) method - each asset pool has a running average cost that updates with every acquisition. The capital gains inclusion rate is 50% under the current Income Tax Act.

Kraken staking is still available for Canadian users. Staking rewards are commonly reported as income depending on the facts. Filing deadline: April 30.

Australia

Capital gains are reported in your individual income tax return. The calculator applies FIFO for cost basis. If you held an asset for 12 months or more, the 50% CGT discount applies.

Staking rewards are assessable income at fair market value on the date received. Filing deadline: October 31.

What DYOR.tax generates from your Kraken ledger

Upload your ledger and you get a free instant preview showing your total gains, losses, and income. The paid PDF report includes:

Preview is always free. No sign-up required.

Common Kraken reporting mistakes

Frequently Asked Questions

Log in to kraken.com, click your profile icon (top right), and select Documents. Click Create Export, select Ledger as the export type, and set the date range to cover your full history. Ensure the format is CSV, then click Generate. The file arrives as a .zip - upload it directly or extract ledgers.csv first. Do not use Trade History - it covers spot trades only and will miss staking income and other activity needed for accurate reporting.

Yes. Staking rewards are taxable as ordinary income in the year received, valued at fair market value on the date of receipt. Report on Schedule 1 (Other Income). Kraken shut down its US staking program in February 2023 following an SEC settlement, so US users may have historical staking rewards from prior years that still need to be included.

Each Kraken trade generates two ledger rows linked by a shared refid. One row records the asset sold, the other records the asset received. To calculate gains correctly, these pairs must be matched. DYOR.tax handles refid pairing automatically - you just upload the raw ledger export without any modifications.

Futures position closures are taxable events and must be included in your capital gains calculation. In the US, certain futures contracts may qualify for Section 1256 treatment with a 60/40 long-term/short-term split - whether this applies depends on the contract type. Futures activity appears in the Kraken Ledger export and is included in DYOR.tax calculations.

Transferring between your own wallets is not a taxable event. However, Kraken has no record of your original purchase price from another exchange. If you sell those assets on Kraken, you need to provide the acquisition history from the source exchange to calculate the correct gain. DYOR.tax lets you upload multiple exchange CSVs to build a complete cross-exchange history.

Tax guides

Kraken resources