How to do your Bored Candy City taxes in 2024
If you're looking for a straightforward way to calculate and report your Bored Candy City taxes, you've come to the right place!
Blockpit is a trusted cryptocurrency tax calculator used by hundreds of thousands of crypto investors worldwide to accurately track and optimize Bored Candy City transactions, and calculate gains, losses and income for tax purposes.
Simply sign up for free, import your transaction data and generate your fully compliant crypto tax report for Bored Candy City and more than 250,000 other crypto assets, exchanges and wallets in minutes!
Read on to learn everything you need to know about Bored Candy City and cryptocurrency taxation!
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🏆 Full Bored Candy City support
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🇺🇸 Full support for US tax regulations
Do I have to pay taxes when using Bored Candy City?
Yes, Bored Candy City gains and income are considered taxable transactions by the IRS.
Bored Candy City capital gains tax ranges from 10% to 37% for short-term capital gains, and up to 20% for long-term capital gains, depending on the total taxable income.
Read our complete 2024 guide Crypto Tax USA for more information.
Does Bored Candy City automatically deduct taxes?
No, as of 2024, Bored Candy City does not automatically deduct taxes from crypto trades.
Calculating crypto taxes can be challenging for crypto exchanges, as they do not have any knowledge of your off-exchange transactions on other platforms or wallets and are therefore missing crucial information required to calculate gains, losses and income.
However, Bored Candy City might still report your crypto transactions to your country's tax authority if certain criteria are met or if asked.
We highly recommend tracking and reporting all relevant crypto transactions on and off the exchange to prevent audits and fines.
Import Bored Candy City transactions into Blockpit
Blockpit offers advanced integrations to process Bored Candy City transaction data. Our guide explains how to add the Bored Candy City integration for portfolio tracking and tax calculation.
Step 1: Log in to your Blockpit account
Log into your Blockpit account here: Login. If you don’t have an account yet, please sign up first: Create Blockpit Account.
Step 2: Select "+ Integration"
After logging in, click on “+ Integration" in the top navigation.
Step 3: Select "Bored Candy City"
Select Bored Candy City from the integration creation dialog
Step 4: Follow the on-screen instructions
You can find a detailed Bored Candy City setup guide here: How to import Bored Candy City transactions
Step 5: Wait for the data import to finish
The data import can take several minutes, depending on the number of transactions. Have a look at the import scope description of our Bored Candy City integration in the meantime!
Import Bored Candy City transactions into Blockpit
Blockpit offers advanced integrations to process Bored Candy City transaction data. Our guide explains how to add the Bored Candy City integration for portfolio tracking and tax calculation.
Step 1: Log in to your Blockpit account
Log into your Blockpit account here: Login. If you don’t have an account yet, please sign up first: Create Blockpit Account.
Step 2: Select "+ Integration"
After logging in, click on “+ Integration" in the top navigation.
Step 3: Select the corresponding blockchain
In the appearing integration creation dialog, select the corresponding blockchain from the list.
Step 4: Follow the on-screen instructions
You can find a detailed Bored Candy City setup guide here: How to import Bored Candy City transactions
Step 5: Wait for the data import to finish
The data import can take several minutes, depending on the number of transactions. Have a look at the import scope description of our Bored Candy City integration in the meantime!
Which Bored Candy City transactions are automatically imported into Blockpit?
Blockpit auto-labels Bored Candy City transaction data based on country-specific gain, loss, and income tax categories, then processes them in alignment with your national tax regulations. As a result, Blockpit can distinguish automatically among these asset classes and Bored Candy City transactions:
Assets
✅ Fiat (EUR, USD, CHF, etc.)
✅ Crypto (Coins & Token)
✅ NFTs (NFT Collections)
✅ Commodities (Gold, Silver, etc.)
✅ Derivatives (Tokenized Stocks, Tokenized Commodities, etc.)
Transactions
✅ All transactions provided by Bored Candy City
Review Bored Candy City transaction data in Blockpit
Blockpit seamlessly merges and organizes your Bored Candy City transaction data. Once all data is imported, the following features ensure clarity and assist in verifying data accuracy:
- Identifying unmerged transfers
- Flagging unlabeled transactions
- Highlighting mismatched balances
- Pinpointing potential issues
- Filtering of assets and transactions
- Access to help center guides
For an in-depth overview of Blockpit's review capabilities, refer to: Troubleshooting
What does the Bored Candy City tax report look like?
Blockpit's popular crypto tax calculator creates the most comprehensive tax reports for Bored Candy City and more than 250,000 other crypto assets, exchanges, wallets and blockchains.
Additionally, Blockpit generates pre-filled tax forms for many countries for easy integration into your yearly tax return. Our tax reports also contain clear explanations in terms of legal interpretation for submission to tax authorities. So far, every tax report has been accepted by the tax offices without a complaint.
The tax report provides information about all of your crypto balances, realized profits and losses, and can be used as proof of origin with banks or tax advisors. It contains all relevant transactions of your account, always refers to the selected tax year and shows details such as time stamp, amount, asset, costs and fees of the individual transactions.
You can view some of our country specific crypto tax reports here: Blockpit Sample Tax Reports
Optimize & reduce Bored Candy City taxes with Blockpit
Depending on your tax residency, it is possible to realize profits and losses in order to optimize your taxes (offsetting of losses against gains & tax loss harvesting). Blockpit’s Tax Optimization Feature allows you to identify unrealized gains and losses as well as the holding period of your Bored Candy City assets.