Cosmos

Cosmos

 
Tax Report
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Blockpit Excel Import
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Automated Import

Cosmos

tax declaration: How to automate your tax report

🤝
Cosmos
partners with Blockpit.
Using Blockpit to track your crypto asset investments can help you save time and money. Utilizing your transactional data imported from
Cosmos
, Blockpit generates a comprehensive portfolio overview. This facilitates holistic analyses, empowering you with the insights needed for informed decision-making. Ultimately, Blockpit calculates a fully compliant tax report, a crucial element in your seamless crypto tax declaration.

Do I have to pay taxes when I use

Cosmos

?

Yes, generally, if you trade cryptocurrencies on
Cosmos
, you may have tax obligations. These vary depending on the country and its specific crypto tax regulations. Some jurisdictions may offer tax exemptions based on profit amounts or holding duration. Read our crypto tax guides for more information.

Will

Cosmos

automatically deduct the tax for me?

Unfortunately,
Cosmos
doesn't automatically withhold taxes for you. If you're trading and transferring between different exchanges or wallets,
Cosmos
would also need to calculate your acquisition costs. For accurate tax determination and declaration at the tax office, it's important to have a complete and accurate documentation of all transactions.

How to import your

Cosmos

transaction data into Blockpit?

Blockpit offers advanced integrations to process your
Cosmos
transaction data. This guide will help you integrate your
Cosmos
data into the Blockpit web app.
Step 1: Log in to your Blockpit account
Visit the Blockpit website and log into your Blockpit account. If you don’t have an account yet, please sign up first.

Step 2: Select “+ Integration”

Once you have logged in, click on “+ Integration" in the navigation.
Step 3: Select “
Cosmos

In the appearing integration creation dialog, select
Cosmos
from the list.
Step 3: Select the corresponding blockchain
In the appearing integration creation dialog, select the corresponding blockchain from the list.
Step 4: Follow the on-screen instructions
For a detailed setup guide, refer to:
How to import data from
Cosmos
?
Step 5: Wait for the data import to finish
Depending on the data load, the import can take several minutes. Meanwhile, you can check the following import scope description of our
Cosmos
integration.

Which

Cosmos

transaction data will be imported automatically into Blockpit?

Blockpit labels your
Cosmos
transaction data based on country-specific gain, loss, and income categories, then computes them in alignment with your national tax regulations. As a result, Blockpit can distinguish automatically among these asset classes and
Cosmos
transactions:

Assets:

✅ Fiat (EUR, USD, CHF, etc.)
✅ Crypto (Coins & Token)
✅ NFTs (NFT Collections)
✅ Commodities (Gold, Silver, etc.)
✅ Derivatives (Tokenized Stocks, Tokenized Commodities, etc.)

Transactions:

General
✅ All native transaction types are supported (incl. Governance, Staking, Delegating, etc.)
✅ IBC transfers (Inter-Blockchain Communication protocol – Bridging)

Staking, Airdrop & Bounty Rewards
✅ Deposits

✅ All transactions provided by
Cosmos
A more detailed description can be found here:
How to import data from
Cosmos
?

How to review your

Cosmos

transaction data in Blockpit?

Blockpit seamlessly merges and organizes your
Cosmos
transaction data. Once all data is imported, the following features ensure clarity and assist in verifying data accuracy:
  • Identifying unmerged transfers
  • Flagging unlabeled transactions
  • Highlighting mismatched balances
  • Pinpointing potential issues
  • Filtering of assets and transactions
  • Access to help center guides
For an in-depth overview of Blockpit's review capabilities, refer to:
Troubleshooting

What does a sample

Cosmos

tax report look like?

Blockpit creates the most comprehensive tax reports for your local tax authority in PDF format. Additionally, for many countries, pre-filled tax forms are also available. Our tax reports also contain clear explanations in terms of legal interpretation for submission to tax authorities. So far, every tax report has been accepted by the tax office without a complaint.

The report provides information about all your balances, realized profits and losses and can be used as proof of origin with banks or tax advisors. It contains all relevant transactions of your account, always refers to the selected tax year and shows details such as time stamp, amount, asset, costs and fees of the individual transactions.

You can view some of our country specific tax reports here: Blockpit sample tax reports

How to optimize your

Cosmos

taxes with Blockpits Tax Optimization Feature?

Depending on your tax residency, it is possible to realize profits and losses in order to optimize your taxes (offsetting of losses against gains & tax loss harvesting). Blockpit’s Tax Optimization Feature allows you to identify unrealized gains and losses as well as the holding period of your
Cosmos
assets.
A more detailed description of the Blockpit Tax Optimization Feature can be found here: How to identify and offset unrealized gains and losses?
Add
Cosmos
Integration