Binance US Taxes: How to Generate Your Crypto Tax Report
Binance US does not create a tax report for you. Every crypto trade and disposal on Binance US is a potential tax event you are responsible for declaring. CoinTracking imports your full Binance US transaction history via CSV export, calculates gains and losses, and generates a tax report ready for the IRS or your local tax authority.
How to Import Your Binance US Transactions into CoinTracking
Watch how to export your transaction history from Binance US as a CSV file and import it into CoinTracking to generate your crypto tax report.
Start Your Free Binance US Import- Every crypto trade on Binance US is a taxable event in the US. The IRS treats crypto as property — short-term gains are taxed as ordinary income, long-term gains at preferential capital gains rates.
- Binance US is available only in the United States. It is separate from Binance.com and is not subject to EU regulations or DAC8 reporting.
- Binance US supports CSV export of your transaction history. Upload it to CoinTracking to automatically calculate your gains, losses, and tax obligations.
- Transfers between your own wallets are not taxable events. Buying and holding crypto is not a taxable event.
Binance US and Your Tax Obligations
Binance US is the US-regulated cryptocurrency exchange operated by BAM Trading Services Inc. It is available exclusively to US residents and operates separately from Binance.com. Binance US is registered with FinCEN and complies with US financial regulations.
Binance US does not provide a tax report. Your transaction history must be exported as a CSV file and uploaded to CoinTracking.
CoinTracking supports Binance US via CSV file upload:
- Binance US CSV Export: downloaded from your Transaction History section in the Binance US platform
- All spot trades, conversions, and withdrawals are supported
- CoinTracking automatically calculates gains, losses, and holding periods
- Generates IRS-compliant reports (Form 8949) and reports for 100+ other countries
Crypto Tax Basics: What Binance US Users Need to Know
Tax rules for crypto vary across jurisdictions. These principles apply broadly to Binance US users, but always verify the specifics with your local tax authority or a qualified advisor.
Trading crypto is a taxable disposal
In most countries, every sale, swap or use of crypto is a taxable event. Capital gains tax applies to the difference between what you paid (cost basis) and what you received. Transfers between your own wallets do not trigger tax.
US: IRS treats crypto as property
The IRS treats cryptocurrency as property, not currency. This means every taxable event must be reported on your tax return. Short-term gains (assets held less than one year) are taxed as ordinary income at your marginal tax rate. Long-term gains (assets held more than one year) are taxed at preferential rates of 0%, 15%, or 20% depending on your income. Losses can be used to offset gains.
Records are your responsibility
Binance US does not issue formal tax documents beyond the CSV export. Accurate records of every trade, date, cost and proceeds remain your responsibility. CoinTracking maintains a complete, dated audit trail of every Binance US transaction you import.
Binance US Taxes by Country
Crypto tax rules differ by market. Below are the key rates, deadlines and filing forms for the countries where CoinTracking users trade most actively on Binance US.
United States
- Short-term gains: Taxed as ordinary income at marginal rates (10%–37%)
- Long-term gains: 0%, 15%, or 20% for assets held over 1 year
- Staking income: Taxed as ordinary income at fair market value when received
- Cost basis: FIFO, LIFO, HIFO, or specific identification (your choice)
- Authority: IRS
- Forms: Form 8949, Schedule D, Schedule 1
Germany
- Disposal tax: Personal income tax rate (up to 45%); gains are tax-free if held longer than 1 year (Haltefrist)
- Annual exemption: Gains up to €1,000/year are tax-free
- Staking income: Taxed as other income (Sonstige Einkünfte)
- Cost basis: FIFO per wallet
- Authority: Finanzamt
- Forms: Anlage SO, Anlage KAP
Austria
- 27.5% capital gains tax: Since March 2022, crypto is taxed like shares — a flat 27.5% KESt applies to gains.
- Old coins grandfathered: Crypto acquired before 28 February 2021 is tax-free on disposal.
- Staking and lending: Treated as capital income, also taxed at 27.5%.
- Authority: Finanzamt Austria. Report via Einkommensteuererklärung (E1 / E1kv).
United Kingdom
- Capital Gains Tax: 18% (basic rate) or 24% (higher rate) from October 2024
- Annual exempt amount: £3,000 (2024/25 onward)
- Staking income: Income Tax at marginal rate
- Cost basis: Section 104 pool (HMRC rules)
- Authority: HMRC
- Forms: Self Assessment SA100, SA108
Switzerland
- Capital gains: Generally tax-free for private investors (no capital gains tax on crypto disposals for non-professionals)
- Wealth tax: Crypto holdings are subject to wealth tax at cantonal rates based on year-end market value
- Income from crypto: Mining and staking rewards are taxed as income at progressive rates
- Authority: Cantonal tax authority (varies by canton)
Canada
- Capital gains inclusion rate: 50% of gains are included in taxable income for individuals (for gains under $250,000 CAD per year)
- Business income: If trading is frequent, CRA may classify profits as business income (fully taxable)
- Staking income: Taxed as income when received
- Authority: Canada Revenue Agency (CRA)
- Form: Schedule 3 (Capital Gains), T1 General
Australia
- Capital Gains Tax: Included in assessable income; 50% CGT discount applies if asset held more than 12 months
- Staking income: Taxed as ordinary income at marginal rates when received
- Cost basis: FIFO or specific identification
- Authority: Australian Taxation Office (ATO)
- Forms: Individual Tax Return (myTax), CGT schedule
Spain
- Savings income (IRPF): 19% up to €6,000; 21% up to €50,000; 23% up to €200,000; 27% up to €300,000; 28% above
- Foreign crypto disclosure: Modelo 721 required if portfolio exceeds €50,000 abroad
- Staking income: Taxed as savings income
- Authority: Agencia Tributaria (AEAT)
- Forms: Modelo 100 (IRPF), Modelo 721
France
- Flat 30% tax (PFU): Gains from crypto disposals are subject to the prélèvement forfaitaire unique (PFU) — 12.8% income tax + 17.2% social charges.
- No exemption for holding period: Unlike Germany, there is no tax-free threshold after 1 year.
- Staking income: Taxed as BNC (non-commercial income) if received regularly; otherwise as capital gains.
- Authority: Direction générale des Finances publiques (DGFiP). Declare via Formulaire 2086.
Tax rules change frequently. This overview is for general information only and does not constitute tax advice. Consult a qualified advisor for your specific situation.
Are Binance US Transactions Taxable?
In most jurisdictions, crypto is treated as an asset: disposing of it can trigger capital gains tax. Use this as a starting reference. The exact rules vary by country.
Taxable Events
- Selling crypto for fiat (USD, EUR, etc.)
- Swapping crypto for crypto
- Using crypto to pay for goods or services
- Receiving crypto as income or reward
Not Taxable
- Buying and holding crypto
- Transferring crypto between your own wallets
- Depositing fiat to Binance US
- Receiving crypto as a personal gift
Tax treatment varies by country. CoinTracking applies the rules for your selected jurisdiction automatically.
How to Calculate Your Binance US Taxes
Binance US's CSV export contains your raw trade history — but converting that into an accurate tax report requires calculating cost basis, holding periods and gains for every transaction.
The core calculation is straightforward: take what you received (proceeds), subtract what you paid (cost basis, calculated with your chosen method — FIFO, LIFO, or HIFO), and the result is your taxable gain or loss. For US users, short-term and long-term gains must be tracked separately.
CoinTracking automates this across your full Binance US history and produces reports formatted for your jurisdiction — including IRS Form 8949 for US filers.
How to Import Binance US into CoinTracking
Three steps to upload your Binance US transaction history and generate your tax report.
- 1
Log into CoinTracking and open Imports
After logging in, click the Import icon in the left navigation. This is where you connect all your exchanges, wallets and blockchains.
- 2
Search for Binance US in the import list
Type "Binance US" in the search field. CoinTracking will show the Binance US import option for CSV upload.
- 3
Upload your Binance US transaction history
Log into Binance US, navigate to your Transaction History, export your CSV file, and upload the file to CoinTracking.
"CoinTracking can handle just about any complex transaction you can throw at it and the automation is a real lifesaver. Of all the tax software tools we've reviewed, CoinTracking is the most detail-oriented and has more accuracy checks in place than the competition."
How to Create Your Binance US
Tax Report with CoinTracking
Three steps from CSV export to a tax report your accountant will accept.
Export your Binance US transaction history
Log into Binance US, navigate to Transaction History, and export your transactions as a CSV file.
Review your transactions
Open Reports → Validate Transactions. CoinTracking flags missing cost basis entries, duplicate imports and price gaps so your final report is accurate.
Generate and export your tax report
Select your country and tax year. CoinTracking generates a report formatted for your jurisdiction: IRS Form 8949 for US users, or PDF/Excel for other countries.
No. Binance US does not generate a complete tax report for users. It offers a transaction history export in CSV format. You are responsible for converting that data into a jurisdiction-specific tax report. CoinTracking imports your Binance US CSV and generates a complete, compliant report for your country.
Log into your Binance US account, navigate to the Orders or Transaction History section, and look for a download or export option to get your CSV file. Then upload the CSV file directly into CoinTracking.
No. Binance US is only available to users in the United States. It is operated by BAM Trading Services Inc. and is regulated by US financial authorities (FinCEN). It is separate from Binance.com and is not subject to EU regulations or DAC8 reporting obligations.
Yes. In the United States, crypto is treated as property by the IRS. Every sale, swap, or disposal of cryptocurrency is a taxable event. Short-term gains (held less than 1 year) are taxed as ordinary income. Long-term gains (held more than 1 year) are taxed at preferential capital gains rates (0%, 15%, or 20% depending on your income bracket).
In most EU countries, yes. Every sale, swap, or disposal of cryptocurrency is a taxable event. The gain or loss is the difference between your cost basis and the proceeds at the time of disposal. Tax-free thresholds and holding periods vary: Germany offers a 1-year exemption, Austria a flat 27.5% rate, Portugal a 1-year exemption for holdings since 2023.
CoinTracking fully supports the Binance US CSV format and automatically calculates gains, losses, and holding periods for all your trades. It generates tax reports for over 100 countries including the US (IRS Form 8949), applying the correct cost-basis method (FIFO, LIFO, HIFO, etc.) for your jurisdiction.
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