DeFi tax guide
Solana DeFi Taxes
Solana DeFi is one of the most active ecosystems in crypto. Every swap, LP position, and yield farming reward may have tax implications - and the complexity is considerably higher than simple buy and sell transactions. Getting your full DeFi history into a structured format is the essential first step.
DeFi Activities and Their Tax Treatment
Token Swaps
Capital gains eventJupiter, Raydium, Orca
A swap is a disposal of one asset and an acquisition of another. In most jurisdictions, this triggers a capital gain or loss equal to the difference between the cost basis of the token sent and its market value at the time of the swap.
Liquidity Provision
Two taxable events per cycleOrca, Raydium, Meteora
Adding liquidity is generally treated as a disposal of both tokens contributed. Removing liquidity is treated as a disposal of the LP token received. This creates two taxable events per LP cycle in most jurisdictions.
Yield Farming Rewards
Ordinary incomeLP rewards and emissions
Rewards earned from LP positions are typically treated as ordinary income at fair market value when received. Those reward tokens also create a cost basis: if you later sell them at a higher price, you owe capital gains on the difference.
Protocol Fees
Potentially deductibleSOL transaction fees
Transaction fees paid in SOL when executing swaps or interacting with protocols may be deductible as a cost of acquisition or disposal depending on your jurisdiction. ExportMyWallet.com includes the fee for every transaction.
DeFi tax rules are complex and vary significantly by country. The above is a general guide. Consult a qualified tax professional before filing.
How DeFi Transactions Appear in Your CSV
DeFi interactions on Solana often involve multiple on-chain actions within a single transaction. Here is how they appear in your export and what each field tells you.
See the full CSV column reference for every field in your export →
Export Your Solana DeFi History
All DeFi interactions are recorded on the Solana blockchain. ExportMyWallet.com reads your full history using your public wallet address - no wallet connection needed.
- 1
Copy your Solana wallet address
Open your Solana wallet and copy your public address. If you used multiple wallets for DeFi, you will need to run a separate export for each address.
- 2
Paste it into ExportMyWallet.com
Paste your address into ExportMyWallet.com. The tool fetches your complete on-chain history including all swaps, LP interactions, and protocol rewards.
- 3
Download your DeFi CSV
Download your transaction history as a CSV. Swaps, yield rewards, and protocol interactions all appear in the same file alongside your SOL and token transfers - ready to import into a tax tool.
Which Tax Tools Handle Solana DeFi
DeFi support varies significantly across crypto tax tools. These three handle Solana DeFi best and all accept the CSV format from ExportMyWallet.com.
Koinly
Strong DeFi supportHandles Jupiter swaps well and auto-classifies most Solana DeFi transactions. Complex LP positions may need review but the coverage is the broadest of any tool. Recommended for most Solana DeFi users.
CoinLedger
Good DeFi coverageGood DeFi transaction support with strong NFT handling as well. TurboTax integration makes it easy to file directly after calculating your taxes. Free to import, paid plans for tax report generation.
Crypto Tax Calculator
Best for complex LPThe best tool for users with heavy LP and yield farming activity. Purpose-built to handle complex DeFi interactions including multi-step transactions. Worth considering if Koinly struggles with your specific protocols.
See the full comparison of Solana tax tools including pricing and free tiers →
Frequently Asked Questions
Is a token swap on Jupiter a taxable event?
Yes, in most jurisdictions. Swapping SOL for USDC (for example) is treated as selling SOL at the current price. Any gain or loss on the SOL is realised at that point. The same applies to swapping any token for another.
How are Raydium LP positions taxed?
Adding liquidity to Raydium is typically treated as a disposal of both tokens contributed. This creates taxable events on both entry and exit from the pool. Some jurisdictions may have different interpretations - consult a tax professional.
What does UNKNOWN mean in my CSV?
UNKNOWN transactions are on-chain interactions with programs that could not be automatically classified. These often include DeFi protocol interactions with newer or less common programs. You may need to manually categorise them in your tax tool using the Tx Signature to identify the protocol on Solscan.
How far back does the DeFi export go?
The free tier exports your 100 most recent transactions. The paid Complete tier exports your full on-chain history with no limit - which is important for users with years of DeFi activity across many protocols.
Related Guides
Solana tax report guide
How to turn your full Solana export into a complete tax report.
Solana NFT taxes
Tax treatment of NFT mints, sales, royalties, and airdrops on Solana.
Solana staking tax
How staking rewards are taxed and how to report them correctly.
Solana transaction CSV format
What each column in your export means and how tax tools use it.
Export Your Solana DeFi Transaction History
Every swap, LP deposit, and yield reward in one CSV - free to start, no login required.
Export Solana TransactionsWorks with Phantom, Solflare, Backpack, and any Solana wallet.