Resources/exchanges/Fantom Tax Guide

Fantom Tax Guide

Fantom is a decentralized and open-source smart contract platform. It was developed as a fast, scalable solution for decentralized applications (dApps), using a distinct consensus mechanism ‘Lachesis’.

Quick Start

Fantom is rising in popularity, as it is one of the fastest and cheapest platforms in the DeFi space. However, a common problem that users encounter is how to calculate taxes on Fantom transactions. Fortunately, CryptoTaxCalculator has developed an integration with Fantom to recognize, categorize and report all taxable transactions. Simply follow the below steps to automate your Fantom taxes:

  1. Locate and copy the Fantom wallet address that you have used for trading via Fantom
  2. Log in to CryptoTaxCalculator, and navigate to the ‘import data’ section. Here, you can enter Fantom into the search field or scroll down to find it manually
  3. Enter your address here, provide an optional nickname and click ‘Add Wallet’
    Fantom import
    Fantom import
  4. Once your Wallet has synced, you will see a green tick indicating that CryptoTaxCalculator has successfully pulled in the transaction history associated with this wallet address from the Fantom network

Wrapping Up

Once you have uploaded all your crypto data CryptoTaxCalculator can calculate your portfolio breakdown and crypto tax obligation. If for some reason you can’t upload your transactions you can add them individually on the review transactions page.

The information provided on this website is general in nature and is not tax, accounting or legal advice. It has been prepared without taking into account your objectives, financial situation or needs. Before acting on this information, you should consider the appropriateness of the information having regard to your own objectives, financial situation and needs and seek professional advice. Cryptotaxcalculator disclaims all and any guarantees, undertakings and warranties, expressed or implied, and is not liable for any loss or damage whatsoever (including human or computer error, negligent or otherwise, or incidental or Consequential Loss or damage) arising out of, or in connection with, any use or reliance on the information or advice in this website. The user must accept sole responsibility associated with the use of the material on this site, irrespective of the purpose for which such use or results are applied. The information in this website is no substitute for specialist advice.

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