How to find your Solana public address
Your Solana public address is what you share to receive SOL, tokens, or NFTs.
Mobile wallets (e.g., Phantom, Solflare, Trust Wallet):
Open your wallet app.
Select your Solana account.
Tap Receive.
Copy the address that appears (starts with a long alphanumeric string, typically beginning with "So..." or random characters).
Browser wallets (e.g., Phantom extension):
Click the wallet extension icon.
Make sure the Solana Mainnet network is selected.
Click Receive or Account → copy your public address.
Hardware wallets (e.g., Ledger with Solana app):
Connect your device and open the Solana app.
In Ledger Live or Solflare, click Receive.
Copy your displayed public address.
Tip: Your public address can be shared safely for deposits, but never share your private key, seed phrase, or recovery phrase.
How are Solana transactions taxed?
Solana activity is taxed similarly to other cryptocurrencies. Each transaction type may trigger a specific tax treatment:
Buying SOL with fiat (USD, MXN, etc.) – Not taxable; establishes your cost basis.
Selling SOL for fiat – Taxable capital gain/loss = sale price − cost basis.
Swapping SOL for SPL tokens (or vice versa) – Taxable disposal of the token you give up; the received asset's market value becomes your new cost basis.
Spending SOL/tokens for goods, services, or NFTs – Taxable event since you're disposing of crypto.
Staking rewards or validator income – Treated as ordinary income when received; subsequent sale triggers capital gain/loss.
Airdrops, claim rewards, or protocol incentives – Generally taxed as income upon receipt.
Bridging or internal transfers between your own wallets – Non-taxable if you maintain ownership and it's the same person/entity.
Transaction (gas) fees in SOL – Usually deductible from proceeds or added to basis, depending on the transaction type.
CoinTracker classifies your Solana transactions automatically, tracks income and capital gains, and generates the proper tax forms for each jurisdiction.
Can the IRS track Solana?
Yes. Solana is a public blockchain, meaning every transaction is recorded on-chain and can be analyzed. The IRS and other tax authorities can:
Use blockchain analytics to trace activity.
Request transaction data from exchanges or custodians that issue 1099 forms.
Identify wallet ownership through KYC records.
By syncing your Solana wallet to CoinTracker, you ensure full compliance with accurate and transparent reporting.