Spring Cleaning for Your Portfolio: How to Make Your Crypto Portfolio Tax-Ready

With the tax deadline approaching and new regulations like CARF and DAC8 increasing transparency around crypto reporting, proper documentation of your portfolio is more important than ever.

Use quieter market phases to review your data in Blockpit: import all exchanges and wallets, resolve open tips, and improve your Account Health. This helps ensure that your portfolio is fully documented and that your tax report can be generated accurately—without unnecessary tax risk.

In short: If you review your transactions now, preparing your tax report later becomes almost automatic.

Why Proper Documentation Is Now Essential

Regulation in the crypto space is becoming stricter. With CARF, transactions from crypto exchanges and wallet providers are already being recorded today and will be automatically reported to tax authorities starting in 2027. Exchanges and platforms are required to report relevant transaction data.

This means that incomplete or inconsistent transaction histories will become much harder to explain in the future.

<div fs-richtext-component="info-box" class="info-box"><div class="flex-info-card"><img src="https://assets-global.website-files.com/65098a145ece52db42b9c274/650c6f4cef4c34160eab4440_Info.svg" loading="lazy" width="64" height="64" alt="" class="icon-info-box"><div fs-richtext-component="info-box-text" class="info-box-content"><p class="color-neutral-800">By now at the latest, you should ensure that your complete crypto history is properly documented—not only for your tax return, but also to avoid potential legal issues. And did you know? Portfolio tracking is completely free with Blockpit—no strings attached.</p></div></div></div>

Step 1: Make Sure All Your Data Is in Blockpit

Before resolving tips or generating your tax report, you should first check whether all relevant data has been imported into Blockpit. Your tax report can only be calculated correctly if your complete transaction history is available.

Quick checklist:

• Are all crypto exchanges connected?
• Have you imported all wallets?
• Did you include old accounts that you may no longer use today but used in the past?
• Have you considered DeFi, staking, or trading bots?

Goal: Your portfolio in Blockpit should reflect your entire crypto history. Only then can your tax report be generated accurately. For all integrations, you can find detailed step-by-step guides in the Blockpit Help Center explaining how to set up connections and import your data.

<div fs-richtext-component="info-box" class="info-box protip"><div class="flex-info-card"><img src="https://assets-global.website-files.com/65098a145ece52db42b9c274/650c6f4b151815fb0be48cec_Lightning.svg" loading="lazy" width="64" height="64" alt="" class="icon-info-box"><div fs-richtext-component="info-box-text" class="info-box-content"><p class="color-neutral-800">With Blockpit Plus, your integrations sync automatically every day—keeping your transactions up to date with less hassle.</p></div></div></div>

Step 2: Resolve Tips and Improve Your Account Health

Once your transactions are imported, it’s worth checking the tips in your Blockpit account.

Tips are automatic indicators that highlight when something in your transaction history is incomplete, unclear, or inconsistent. They help you identify potential problems early and improve the quality of your data.

The more tips you resolve, the higher your Account Health becomes. This metric represents the percentage of transactions without unresolved tips, and ideally it should be as close to 100% as possible. High data quality ensures that your tax report can be calculated accurately.

<div fs-richtext-component="info-box" class="info-box"><div class="flex-info-card"><img src="https://assets-global.website-files.com/65098a145ece52db42b9c274/650c6f4cef4c34160eab4440_Info.svg" loading="lazy" width="64" height="64" alt="" class="icon-info-box"><div fs-richtext-component="info-box-text" class="info-box-content"><p class="color-neutral-800">Good to know: Even if your Account Health is lower, a tax report can still be generated. In this case, Blockpit applies fallback logic to calculate your report. While the report remains usable, it may result in a higher tax burden rather than a lower one. By resolving tips, you can often improve the accuracy of your tax report and potentially reduce your tax liability.</p></div></div></div>

Below are the four most common tips you may encounter in Blockpit—and how you can resolve them quickly.

1. Unlabeled Transactions

This tip appears when a transaction does not yet have a label, meaning Blockpit cannot clearly determine what type of transaction it is. While many transactions are labeled automatically, some cases require manual classification.

Typical examples:

• A trade was not recognized correctly
• A transfer between two of your own wallets
• A deposit or withdrawal without a clear assignment

How to fix it:

• Open the affected transaction
• Assign the appropriate label (e.g., Trade, Transfer, Airdrop)
• Or connect related transactions to form a Trade or Transfer

If several transactions belong together, you can also edit them together or merge them to correctly represent the event.

2. Mismatched Balance

This tip occurs when the balance reported by the exchange or wallet (Synced Balance) does not match the balance calculated from your transactions (Calculated Balance). It usually indicates that some transactions may not have been imported correctly.

This commonly happens when:

• A deposit is missing
• A withdrawal was not imported
• A transfer between two accounts was not fully captured

How to fix it:

• Synchronize the integration again
• Check whether all transactions were imported completely
• Add missing transactions manually or via CSV import

3. Missing History

The “Missing History” tip appears when an asset leaves your account even though, according to your transaction history, it was never recorded as being in your balance.

Example:
You see an outgoing transaction of 1 BTC with the message “Missing history of 1 BTC”. This means that the previous transaction where 1 BTC entered the integration is missing.

This often happens when:

• An API only provides data from a certain date onward
• Older transactions were not imported
• A wallet or exchange was connected too late

How to fix it:

• Synchronize the integration again
• Check whether you can import older transactions via CSV
• Add missing transactions manually
• If necessary, recreate the integration to import the full history

4. Missing Value

This tip appears when Blockpit cannot determine a price or market value for a transaction.

This can happen for example with:

• Newly issued or very illiquid tokens
• DeFi assets
• Historical transactions without a price source

How to fix it:

• Review the asset value of the transaction
• Add the price manually so the correct market value can be calculated

<div fs-richtext-component="info-box" class="info-box protip"><div class="flex-info-card"><img src="https://assets-global.website-files.com/65098a145ece52db42b9c274/650c6f4b151815fb0be48cec_Lightning.svg" loading="lazy" width="64" height="64" alt="" class="icon-info-box"><div fs-richtext-component="info-box-text" class="info-box-content"><p class="color-neutral-800">The tips above are the most common cases. You can find a more detailed explanation of all tips, along with step-by-step instructions for resolving them, in the Blockpit Help Center.</p></div></div></div>

Keep your crypto portfolio tax-ready

Blockpit helps you detect inconsistencies in your data early. Tips clearly show where transactions are incomplete or unclear—and guide you step by step on how to fix them.

Need help? Ask Lia, our in-app assistant trained on the Blockpit Help Center and tax guides. She can answer your questions and connect you with a support agent if needed.