How to do your Dfyn Network taxes in 2024
If you're looking for a straightforward way to calculate and report your Dfyn Network 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 Dfyn Network 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 Dfyn Network and more than 250,000 other crypto assets, exchanges and wallets in minutes!
Read on to learn everything you need to know about Dfyn Network and cryptocurrency taxation!
🤝 Dfyn Network is an official Blockpit partner.
#1 Dfyn Network Tax Calculator
🏆 Full Dfyn Network support
📈 Smart tax optimization and offsetting of losses
🇺🇸 Full support for US tax regulations
Do I have to pay taxes when using Dfyn Network?
Yes, Dfyn Network gains and income are considered taxable transactions by the IRS.
Dfyn Network 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 Dfyn Network automatically deduct taxes?
No, as of 2024, Dfyn Network 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, Dfyn Network 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 Dfyn Network transactions into Blockpit
Blockpit offers advanced integrations to process Dfyn Network transaction data. Our guide explains how to add the Dfyn Network 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 "Dfyn Network"
Select Dfyn Network from the integration creation dialog
Step 4: Follow the on-screen instructions
You can find a detailed Dfyn Network setup guide here: How to import Dfyn Network 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 Dfyn Network integration in the meantime!
Import Dfyn Network transactions into Blockpit
Blockpit offers advanced integrations to process Dfyn Network transaction data. Our guide explains how to add the Dfyn Network 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 Dfyn Network setup guide here: How to import Dfyn Network 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 Dfyn Network integration in the meantime!
Which Dfyn Network transactions are automatically imported into Blockpit?
Blockpit auto-labels Dfyn Network 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 Dfyn Network 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 Dfyn Network
Review Dfyn Network transaction data in Blockpit
Blockpit seamlessly merges and organizes your Dfyn Network 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 Dfyn Network tax report look like?
Blockpit's popular crypto tax calculator creates the most comprehensive tax reports for Dfyn Network 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 Dfyn Network 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 Dfyn Network assets.