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How can I add transactions from ICOs?
How can I add transactions from ICOs?
Written by Eivind Semb
Updated over a week ago

Transactions related to investing in an ICO (Initial Coin Offering) or an IEO (Initial Exchange Offering) need to be imported to Coinpanda to give you accurate tax information.

Buying into an ICO or IEO is essentially the same as making a cryptocurrency trade through an exchange where you are trading one coin for another. You can either import the transactions automatically with auto-sync for your blockchain address if you invested directly from your wallet or add them into the generic Excel file and upload the file to Coinpanda.


Let's say you sent 5 ETH to a wallet address and received 2,000 ICX tokens for their ICO. You would then add one Trade transaction in the generic Excel file this way:

  • 5 ETH as the coin sold/sent

  • 2,000 ICX as the coin bought/received

  • Any gas fees paid as the transaction fee

Then save the file and upload it to Coinpanda.

Read also:

What if I received the tokens long after the initial investment date?

This will depend on each different country's tax treatment of investing in ICOs, so we can only comment on this for US taxpayers since the tax authority in the US seems to be the only agency that has actually made specific statements about this scenario.

The IRS clearly states that you do not realize any gains before receiving the new tokens in your wallet or account. The implication of this is that if you invest in an ICO on January 1st, 2023, but do not receive the new tokens before August 20th, 2023, you will not realize gains on the cryptocurrency sold before August 2023 on the date you received the new tokens. The acquisition date for the ICO tokens will also be August 20th, 2023, and this date will be considered when calculating short-term and long-term gains later when the coins are disposed of in the future.

Let's look at a simple example:

  • January 1st, 2023: You invest 1 ETH in the ICO for XYZ token and pay 0.002 ETH in gas fees. You will receive 500 tokens according to the applicable ICO rate.

  • August 20th, 2023: You receive all 500 XYZ tokens in your wallet

The most accurate way to import this transaction would be to import a single Trade transaction to Coinpanda this way:

  • August 20th, 2023: 1 ETH β†’ 500 XYZ + 0.002 ETH fee

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