How do I connect my Kusama account to CoinTracker?
To add your Kusama transactions to CoinTracker:
Download the CSV export of your transactions from Kusama
Reformat those transactions into our CoinTracker CSV format (see our support guide here)
Import your CSV export to CoinTracker here
How to find your Kusama public address
Your Kusama (KSM) public address is what you use to receive and track your holdings.
Mobile wallets (e.g., Nova Wallet, Polkawallet):
Open your wallet app.
Select your Kusama (KSM) account.
Tap Receive.
Copy your public address (starts with a capital letter, such as "C", "D", or "E").
Browser wallets (e.g., Polkadot.js extension, Talisman, SubWallet):
Open your wallet extension.
Select your Kusama account.
Click Copy Address or Receive.
Copy the address (e.g., starts with "C..." or "D...").
Hardware wallets (e.g., Ledger):
Connect your device and open the Kusama app.
In your companion app (e.g., Polkadot.js or Nova), click Receive.
Copy your KSM address.
You can safely share your public address for deposits or tracking—but never share your private key or recovery phrase.
How are Kusama transactions taxed?
Kusama (KSM) is treated as property for tax purposes. The taxable implications depend on your activities:
Buying KSM with fiat (USD, MXN, etc.) – Not taxable; this establishes your cost basis.
Selling KSM for fiat – Taxable capital gain/loss = sale proceeds − cost basis.
Swapping KSM for other cryptocurrencies – Taxable event; the KSM disposed of triggers a gain or loss.
Spending KSM for goods or services – Taxable, as it's treated as selling crypto.
Staking rewards or validator income – Ordinary income at fair market value when received; later sales = capital gain/loss.
Parachain crowdloan contributions – Typically a taxable disposal of KSM at the time of contribution; rewards (parachain tokens) may also count as income upon receipt.
Airdrops, governance rewards, or incentives – Ordinary income when received.
Transferring KSM between your own wallets – Non-taxable, but must be recorded for cost basis tracking.
Transaction fees – May be deductible or added to cost basis depending on the transaction.
CoinTracker automatically classifies these events, applies cost basis accounting (FIFO, HIFO, etc.), and calculates your income and capital gains across all Kusama transactions.
Can the IRS track Kusama?
Yes. Although Kusama is a parachain network separate from Polkadot, its transactions are public and transparent. The IRS and other tax authorities can:
Use blockchain analytics tools to trace KSM transactions and wallets.
Receive transaction data from exchanges or custodians that support Kusama.
Correlate KSM wallet activity to user accounts on KYC platforms.
Connecting your Kusama wallet to CoinTracker ensures full transparency and accurate tax compliance for all your KSM activity.