SudoSwap Tax Guide
Reporting tax with a platform such as SudoSwap can seem daunting, but it doesn't have to be. CryptoTaxCalculator imports and categorises all the transactions from the wallet you used on SudoSwap, allowing you to generate tax reports quickly and easily. Crypto investors commonly use multiple wallets, exchanges and chains, which can lead to a convoluted transaction trail that can be hard to track at tax time. CryptoTaxCalculator integrates with all of your favourite exchanges, wallets and blockchains, allowing you to consolidate you data and track profits, losses, and income. This guide covers how to get started with your SudoSwap taxes so you can sort out your tax nightmare today.
Let’s dive right into it! Here’s a quick and easy breakdown of how to import your SudoSwap transaction history into CryptoTaxCalculator:
1. SudoSwap is available on
2. Locate and copy the wallet address/es you used to transact on SudoSwap.
This will be accessible via the wallet you used to connect to the SudoSwap originally (e.g. if you use Metamask, navigate to the wallet you used and you’ll be able to copy your wallet address from there).
3. In CryptoTaxCalculator enter the associated blockchain you used when interacting with SudoSwap into the search field or scroll down.
For example, Ethereum.
5. Your wallet/s will now sync and CryptoTaxCalculator will pull in all the transactions associated with your wallet on that chain, including any transactions on SudoSwap. If this wallet has interacted with other platforms, those will be imported as well.
Decentralized finance (DeFi) platforms, such as SudoSwap, offer people access innovative financial products in a decentralised and autonomous way. However, one crucial aspect that DeFi platforms can't currently provide is the ability to generate a user's tax forms.
The main reason for this is that DeFi platforms do not get the 'full story' of your transaction history. For example, SudoSwap only has the ability to calculate taxes on the transactions that happen on the platform. This leaves a gaping hole of information, such as where the crypto currency came from and how much it was purchased for, which is required to determine a cost basis. Without this, the tax calculations could be incorrect. DeFi platforms also typically lack the centralized structure and compliance mechanisms required to generate tax forms for users. Unlike centralized exchanges that collect and store user data in a centralized manner, DeFi platforms operate on a decentralized network that doesn't require users to provide personal information, such as their tax identification number. As a result, DeFi platforms lack the required user data to generate accurate tax forms for the individual.
Therefore, it is up to the individual user to keep track of their DeFi transactions and report them accurately on their tax forms. While this may seem daunting, but CryptoTaxCalculator can help you manage and stay on top of your DeFi taxes by automatically importing and categorizing transactions made with platforms like SudoSwap.