CoinLedger, one of the biggest tax reporting platforms for NFT, DeFi, and cryptocurrency users, has officially integrated with the Polygon blockchain, Coin Journal learned from a press release.
Now, users who interact with Polygon via wallets and dApps can automate their income tax, capital gains, and loss reporting.
Direct integration with leading exchanges, wallets, blockchains
CoinLedger was founded in 2018 with the purpose of limiting the friction of taking part in the cryptocurrency ecosystem by simplifying tax reporting as much as possible. It had 300,000 users at the time of writing.
Tax reporting can be a nightmare due to the interoperable nature of digital assets and cryptocurrencies, with multichain transfers.
CoinLedger does away with this issue through direct integration with leading chains, wallets, and exchanges to enable all cryptocurrency users to track their digital asset transaction history across the whole crypto ecosystem.
David Kemmerer, CoinLedger Cofounder and CEO, said:
We are excited to expand our accounting and tax reporting capabilities to the Polygon ecosystem. The myriad of apps built on Polygon and its transaction volume is astounding. We are thrilled to be able to unlock even more innovation within the ecosystem through seamless tax reporting for all.
Automatic import of transactions
Users can import all historical transactions and account for them automatically by simply copying and pasting their Polygon wallet address to CoinLedger. They can generate full income tax reports and reports on capital gains and losses from there.
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