Kraken Tax Forms: What Kraken Reports and What You Must Calculate
Kraken issues tax forms to some US customers - but like all crypto exchanges, the forms don't calculate your gains for you. You still need your full ledger export to determine cost basis, staking income, and net P&L. Here's exactly what Kraken provides and what you need to do with it.
Kraken's forms show the IRS your activity. DYOR.tax calculates your actual gain. Upload your Kraken ledger for a free instant preview with trade-by-trade cost basis.
Try the Kraken Calculator →Does Kraken send tax forms?
Kraken issues the following to eligible US customers:
- 1099-MISC - if you received over $600 in staking rewards, referral bonuses, or other miscellaneous income during the tax year
- 1099-DA (being phased in) - for reportable digital asset transactions starting with tax year 2025
Outside the US, Kraken generally does not issue tax forms. Self-reporting is required based on your country's rules.
Note: In 2023, the IRS issued a John Doe summons to Kraken requiring disclosure of account information for US users with over $20,000 in transactions. US users should ensure their reporting is complete and accurate.
What Kraken tax forms don't cover
Even after receiving every form Kraken issues, significant gaps remain:
- Capital gains calculations. Forms show proceeds, not net gains. You still need to match every disposal to its original purchase price.
- Cost basis for transferred assets. If you moved crypto to Kraken from another exchange or wallet, Kraken has no record of your original purchase price.
- Kraken Futures activity. Futures positions receive separate treatment and may not appear on standard 1099 forms.
- Non-US accounts. Kraken does not issue tax forms to customers outside the US.
- Complete transaction detail. The full ledger is required for accurate FIFO, ACB, and Section 104 calculations.
The Kraken ledger export - what you actually need
The ledger CSV is the complete picture of your Kraken account. It covers deposits, withdrawals, trades, staking rewards, transfers, and margin activity. This is the file DYOR.tax uses to calculate your taxes.
How to export it:
- Log in to kraken.com
- Click your profile icon (top right) and select Documents
- Click Create Export
- Select Ledger as the export type (not Trades)
- Set the date range to cover your full history - essential for accurate cost basis from prior years
- Ensure the format is CSV, then click Generate
- Download when ready - the file arrives as a .zip
- Upload the .zip directly, or extract ledgers.csv first
Using Trade History instead of Ledger is the most common Kraken tax mistake. Trade History covers spot trades only and misses staking rewards, deposits, and withdrawals.
How to generate your Kraken tax report
- Export your full Kraken ledger (All time)
- Upload to DYOR.tax
- Select your country
- The calculator parses refid-paired trades, staking rewards, and all transaction types automatically
- Preview your results for free, then download the filing-ready PDF
Country-specific reporting for Kraken users
The correct cost basis method and filing forms depend on where you live:
- US - Form 8949 + Schedule D for capital gains, Schedule 1 for staking income. FIFO cost basis method.
- UK - SA108 Cryptoassets, Section 104 pooling applies to all Kraken trades. Same-day and 30-day B&B rules take priority.
- Canada - ACB (Adjusted Cost Base) method, Schedule 3. Filing deadline April 30.
- Australia - FIFO cost basis, 50% CGT discount for assets held over 12 months. Staking = assessable income.
Common Kraken tax mistakes
- Using Trade History instead of Ledger export. Trade History misses staking rewards, deposits, and withdrawals - all of which affect your tax calculation.
- Not exporting All time. Limiting the date range breaks cost basis for assets purchased in prior years.
- Ignoring staking rewards. Staking income is taxable in most jurisdictions regardless of whether you received a 1099-MISC.
- Treating withdrawals as taxable events. Transferring crypto to your own wallet is not a disposal and generates no taxable gain.
- Missing Kraken Futures activity. Futures position closures are taxable events that must be included in your capital gains calculation.