How to calculate your MEXC Taxes?

This guide will walk you through the process step by step, making it simple to manage your MEXC taxes and stay compliant. Whether you’re a trader or an investor, reporting your transactions correctly is important to avoid tax issues.

If you find MEXC tax reporting challenging, try using Catax, an efficient cryptocurrency tax calculator. Follow these easy steps:

1. Create a Catax account: First, sign up, select India as your country, and set INR as your currency.
2. Connect with MEXC: Next, link your MEXC account to Catax to automatically import your transaction details.
3. Sort your transactions: Then, Catax will categorize your MEXC activities into gains, losses, and income.
4. Download your tax report: Get a detailed tax report from Catax for a clear overview of your crypto finances.
5. File your taxes easily: Finally, use the report to file your taxes online or share it with your tax advisor for assistance.

How are MEXC transactions taxed?

Understanding how your MEXC transactions are taxed helps you stay compliant and avoid unexpected tax bills. Here’s a simple breakdown:

1. Capital Gains Tax
   • Selling or Trading Crypto: Selling or trading crypto for a profit is usually considered a capital gain.
   • Tax Rates: The rate depends on how long you’ve held the asset and your country’s tax laws.

2. Income Tax
   • Earning Crypto: Crypto earned through mining, staking, or payments is generally considered income.
   • Tax Rates: This income is taxed at your regular income tax rate.

Tax rates and regulations vary by country, so it’s essential to understand your local tax laws. Consulting a tax professional can help you report your MEXC transactions accurately and stay compliant.

Connecting Your MEXC Account with Catax via API

In Mexc:

1. Click on your profile icon, then select API Management from the dropdown menu.

2. In the API Management section, click on Create New API Key.

3. Set up Spot & Futures permissions, add a name in the Notes e.g. ”catax”, link IPs if needed, and click “Create.”

4. Enter the code sent to your registered email and click Submit to complete the security verification.

5. Copy the Access Key and Secret Key, then click Confirm to finalize the API key creation.

On Catax:

1. Log in to your Catax account.
2. Navigate to the wallets section and upload your Mexc wallet.
3. Enable auto-sync, then enter your API key and secret to import your data.

How to Export Spot & Futures History?

1. Click your profile icon and select Spot or Futures to view balances and statements.

2. Go to Spot Statement to check transactions and trading history. Do the same for Futures.

3. Set filters (date, type, direction) and click Export. Do the same for Futures.

4. Choose export option and click Generate to create the report.

5. Click Download under Application Record to get the report.

On Catax:

1. Go to Catax.app
2. Add your MEXC wallet,
3. Choose the file import.
4. Then Upload your CSV.

FAQs (Frequently Asked Questions)