Recap supports automated wallet imports from Metamask for Ethereum wallets - simply copy your Ethereum wallet address into the 'Add Wallet' dialogue in Recap.
1. Ensure you have Ethereum selected and copy your public wallet address
2. Add a new wallet account and paste the address into Recap
3. That's it! We'll fetch your transactions and calculate your taxes
Head to Accounts, click Add Custom Account and type in a name for your wallet. You'll now see an empty card in the Accounts dashboard ready for your data to be added.
It isn't possible to find all the data you need from within the Metamask wallet so you'll need to find your transactions in Etherscan.
Head to the dropdown menu (the three dots) in the Metamask extension and select "View on Etherscan".
You'll be taken to Etherscan where you can view all trades and transactions. You'll see a top-level overview of all activity associated with your wallet, click on individual transactions to access more information.
When you have found your transactions in Etherscan, there are two ways to add them into the Recap app:
Uploading a CSV
Add transactions individually
Firstly, you need to create a CSV of all your data. Your CSV must be formatted correctly to be accepted by the Recap app; you can see and download our template below.
The Recap CSV Template
Download Recap CSV Template
(It is possible to download a CSV of your transactions from Etherscan but, this only provides an overview of transactions that you would need to add more detail to. You would also then need to reformat this to be accepted by our app, so we suggest that you start with the Recap CSV template and add your transactions into it.)
When your CSV is ready head to Accounts in the Recap app and find the custom account card you created in Step 1
Click the Cog in the bottom right of the card and choose "Import CSV".
Locate your CSV and then click Import.
You'll return to the Accounts dashboard, where your CSV will be loading. As your data is imported it will populate the Metamask card.
Click the Metamask card to see your account chart and assets in more detail or head to activity to see your transactions in detail.
In the Recap app head to Activity and select Add Manual Transaction.
Choose the Transaction Type and then select the account you created in Step 1 from the Account dropdown. Now click Next.
Fill in the transaction details using the information in Etherscan, then click Next.
You'll return to Activity, where you'll see the transaction has been added.
Head to Accounts to see the transaction reflected in your Metamask account card.
If you're struggling to interpret your transactions in Etherscan, check out these illustrations showing where to locate the information needed, and how it would appear in Recap by following Method's A and B above.
Transaction within Etherscan:
A. Transaction within a Recap formatted CSV:
B. Transaction added to Recap manually:
What do I need to know about the gas price, gas fee and transaction fee?
On the Ethereum blockchain, miners validate and execute your activity, which takes computational power and so a transaction fee must be paid to these remote miners. The gas price is used to calculate this fee:
Transaction fee = Gas price x Gas used
Often people refer to the transaction fee as the gas fee, as you are essentially paying for gas. Here's where the confusion starts for most users!.. In Etherscan, the gas price is listed directly below the transaction fee, so is easily misinterpreted as an additional fee. In actual fact, the only fee that you need to report (and add into Recap) is the transaction fee. (This has already taken into account the gas price, as shown in the calculation above).
This all sounds like a lot of work! Do I need to import all of my activity? Even transactions that I know are not taxable?
Although not all trades are taxable, we would advise yes; the Recap app works most smoothly when it understands all of your activity and this also ensures that your balances are correct and that your tax is accurate.
For example, if you choose not to include a deposit (as they are non-taxable) but later dispose of this asset, our tax calculator will not be able to find the original acquisition cost and so by default uses zero. This means that the gain on your disposal report will be incorrect (and unnecessarily high)!
Then hit the button to chat with us in person.
Please note:
Your data is your responsibility. We are not financial advisors and can not advise on specific transactions or personal situations, but, we are able to connect you with a tax professional if you need accounting advice.
Related Articles
