How do I connect my Polkadot account to CoinTracker?
To add your Polkadot transactions to CoinTracker:
Download the CSV export of your transactions from Polkadot
Reformat those transactions into our CoinTracker CSV format (see our support guide here)
Import your CSV export to CoinTracker here
How to find your Polkadot public address
Your Polkadot public address is required to receive DOT and track your holdings.
Mobile wallets (e.g., Nova Wallet, Talisman, SubWallet):
Open your wallet app.
Select your Polkadot account.
Tap Receive.
Copy the displayed address (starts with 1...).
Browser wallets (e.g., Talisman, Polkadot.js extension):
Open the wallet extension.
Select your Polkadot account.
Click Copy address or Receive to copy the string starting with 1....
Hardware wallets (e.g., Ledger):
Connect your Ledger and open the Polkadot app.
Open Ledger Live or a compatible wallet interface.
Click Receive and copy your Polkadot address (1...).
You can share your public address safely for deposits or tracking. Never share your private key or seed phrase.
How are Polkadot transactions taxed?
Polkadot (DOT) is treated as property for tax purposes. Each type of transaction can have different tax implications:
Buying DOT with fiat (USD, MXN, etc.) – Not taxable at purchase; establishes your cost basis.
Selling DOT for fiat – Taxable capital gain/loss = sale proceeds − cost basis.
Swapping DOT for other cryptocurrencies – Taxable disposal of DOT; the value of the new asset becomes your new basis.
Spending DOT on goods or services – Taxable as a disposal event.
Staking rewards or validator payouts – Treated as ordinary income when received; later sale = capital gain/loss.
Participating in parachain crowdloans – Generally creates a disposal event of the contributed DOT; however, reward tokens may be treated as income depending on timing and jurisdiction.
Airdrops or protocol incentives – Taxed as income upon receipt.
Transferring DOT between your own wallets – Non-taxable, but important to record for cost basis continuity.
CoinTracker automatically identifies taxable events, tracks income, and applies cost basis accounting (e.g., FIFO or specific ID) for precise reporting.
Can the IRS track Polkadot?
Yes. Although Polkadot uses a unique multi-chain architecture, its transactions are public and traceable through blockchain explorers. The IRS and other authorities can:
Access on-chain data using blockchain analytics.
Receive reports (e.g., 1099 forms) from regulated exchanges and custodians.
Link wallet activity to KYC accounts.
Using CoinTracker ensures your Polkadot transactions are transparently reported and tax-compliant.