Your Kraken account has 600 transactions across 4 pairs. The standard export is a single CSV with 12 columns. You need it in Koinly by Friday, and Kraken does not issue a 1099-DA for US users.
Kraken is the #2 US-friendly exchange. Kraken’s Ledger CSV is the raw transactions export. The recon cutoff tool handles all Kraken formats. This page covers the Ledger CSV, the lack of 1099-DA for US users, and the per-Kraken handling for tax software import.
Kraken does NOT issue a 1099-DA for US users (as of 2024). US users must self-report. Kraken’s Ledger export is the raw transactions: every trade, deposit, withdrawal, staking, fee. The recon cutoff tool reads the Ledger CSV and emits a clean file for Koinly, CoinTracker, or manual entry.
Kraken Pro and Kraken (legacy) have different export formats. The recon cutoff tool handles both. Staking rewards and airdrops are reported as income, not capital gains. They go in a different column in the converted file. The conversion handles 600 transactions in about 2 minutes.
For the broader crypto tax workflow, see the crypto tax statement preparation guide pillar. For the original exchange conversion, see the crypto exchange statement conversion guide. For cost basis methods, see the cost basis methods guide.
The Kraken Ledger Export
The Ledger is Kraken’s raw transaction export. It has every trade, deposit, withdrawal, staking reward, fee, and airdrop. The Ledger is the only export you need for crypto tax prep. The recon cutoff tool reads the Ledger CSV directly.
What most guides miss about CSV conversion is that the quality depends on the mechanism, not on the tool. Two tools that look different on the surface often run the same 4-step process underneath: read, find, parse, verify. The difference is in how well each step handles edge cases (merged cells, missing balances, non-standard date formats, scanned vs digital input).
Choosing between tools based on UI alone misses the actual quality lever.
The Ledger CSV Format
The Ledger CSV has 12 columns: txid, ordertxid, pair, time, type, ordertype, price, cost, fee, vol, margin, misc, ledgers. The columns are Kraken-specific (pair, vol, margin, ledgers are not in standard exchange exports). The recon cutoff tool’s per-Kraken handling normalizes these to a standard format for tax software.
How to Download the Ledger
Log into Kraken → History → Ledger → Export. The export is a CSV file. Kraken stores ledger entries for the entire account history (no time limit). The export takes 30-60 seconds for a typical 600-transaction account.
Kraken Pro vs Kraken (Legacy)
Kraken has 2 trading interfaces: Kraken Pro (the modern interface) and Kraken (the legacy interface). The Ledger export is the same from both. The recon cutoff tool handles both formats identically.
For US users, Kraken Pro is the default. The legacy interface is for older accounts that haven’t migrated. The recon cutoff tool’s per-Kraken handling reads both formats and emits a standardized output.
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Try it freeThe 1099-DA Question
Kraken does NOT issue a 1099-DA for US users (as of 2024). This is different from Coinbase, Gemini, and Robinhood, which all issue 1099-DA in 2025+. US Kraken users must self-report all transactions on their tax return.
The recon cutoff tool’s Kraken handling flags the lack of 1099-DA and reminds the user that self-reporting is required. The tax software (CoinTracker, Koinly, TokenTax) generates the IRS forms from the converted Ledger.
Staking and Airdrops on Kraken
Kraken offers staking for several assets (ETH, SOL, DOT, ATOM, and others). Airdrops happen for new assets listed on the platform. Both are income, not capital gains, but the tax treatment differs by year and by income type. The recon cutoff tool’s per-Kraken handling maps both to the right category.
Staking Rewards
Staking rewards are reported as income at fair market value on the day received. The Kraken Ledger marks staking rewards as “staking” type, which the recon cutoff tool’s per-Kraken handling maps to the income category. The cost basis of the new asset is the income amount.
Airdrops
Airdrops are also income, marked as “airdrop” type in the Ledger. The recon cutoff tool’s per-type handling ensures airdrops go in the income category, not the capital gains category. Airdrops are reported on Schedule B or Schedule C, depending on whether the airdrop was expected or unexpected.
The Income vs Capital Gains Split
Staking and airdrops are income. Trades are capital gains. The recon cutoff tool’s per-Kraken handling separates the two based on the Ledger type column. The tax software applies the income tax rate to staking/airdrop income and the capital gains rate to trades.
Multi-Account Kraken Users
Kraken allows multiple sub-accounts per user. Each sub-account has its own Ledger, its own staking balance, and its own tax treatment. The recon cutoff tool’s per-sub-account handling ensures each sub-account is converted correctly.
The 3 Sub-Account Types
Kraken has 3 sub-account types: trading (spot and margin), staking (rewards and unbonding), and funding (deposits and withdrawals). Each has its own Ledger. The recon cutoff tool’s per-type handling reads each Ledger and emits a separate converted file per sub-account type.
The Aggregation Step
The tax software aggregates the sub-accounts for the final tax return. The recon cutoff tool’s per-sub-account output is the input to the aggregation. The recon cutoff tool’s per-period split also helps for year-end vs mid-year conversions.
Common Kraken Tax Mistakes
3 mistakes Kraken users make.
Mistake 1: Forgetting to Export the Full Year
The Ledger export defaults to the last 30 days. The fix: select “All” in the date range before exporting. The recon cutoff tool’s per-Kraken handling reads the full-year export.
Mistake 2: Confusing Kraken Pro and Kraken Staking
Staking on Kraken Pro and Kraken (legacy) are the same product. The Ledger entry is the same. The recon cutoff tool’s per-Kraken handling normalizes the staking entries.
Mistake 3: Not Realizing There’s No 1099-DA
Kraken does not issue a 1099-DA. US users must self-report. The recon cutoff tool’s per-Kraken handling flags this. The tax software generates the IRS forms.
A common failure mode bookkeepers report is treating this as a single operation rather than a chain of dependent steps. The temptation is to find a tool that ‘just works’ and stop investigating the mechanism.
The result is a wrong-fix cycle: the tool gives partial output, the bookkeeper spends 30+ minutes troubleshooting, the fix is for the wrong step, and the same error recurs on the next statement. The fix: identify which step failed and apply the right intervention to that step.
The Recon Cutoff Tool’s Per-Kraken Handling
The recon cutoff tool’s per-Kraken handling reads the Ledger CSV, normalizes the Kraken-specific columns to a standard format, and emits a clean Excel or CSV file. The output is ready for CoinTracker, Koinly, TokenTax, or manual tax prep.
The per-Kraken handling does 5 things: parses the Kraken-specific columns (pair, vol, margin, ledgers), normalizes date formats, normalizes sign conventions, separates staking/airdrop income from capital gains, and outputs to the tax software’s import format. The conversion takes 30-60 seconds per account.
For the broader crypto tax workflow, see the crypto tax statement preparation guide pillar. For the original exchange conversion, see the crypto exchange statement conversion guide . For cost basis methods, see the cost basis methods guide . The bank statement converter handles all the steps with the integrity check at the end.
The bank statement converter handles all the steps with the integrity check at the end. The bank statement converter handles all the steps with the integrity check at the end. The bank statement converter handles all the steps with the integrity check at the end.
Related: complete 1099-DA crypto tax guide
This topic is part of the broader 1099-DA and crypto-tax cluster on this site. The consolidated hub for the entire topic, including the form mechanics, broker requirements, cost basis methods, reconciling to bank statements, and state-level differences, now lives in the complete 1099-DA crypto tax reporting guide.
For related reading, the complete US bank payment rails guide covers ACH and wire cash flows from crypto exchanges, and the complete MCC guide covers merchant category codes on credit-card statements. The expanded bank statement anatomy pairs naturally with this hub.
More on the broader cluster
For the broader context on US bank-statement reading, see the consolidated hubs on merchant category codes, payment rails, and the statement anatomy. These hubs work together to cover credit-card statements, bank-account statements, and the categorization signals that survive merchant-name truncation.
When reconciliation runs into edge cases, the practical answer usually lives in the federal-regulations cluster, the bookkeeper-resource cluster, or the credit-card-statements cluster. Each offers a domain-specific take on the same underlying signal.
Easy Statement Sheet reads bank-statement and credit-card statement PDFs into a clean four-column output (Date, Description, Amount, plus Merchant Category Code for credit-card statements, plus the running balance for bank-account statements). Files are never stored.
The first three statement conversions are free, no card required. Plans start at $15 per month. The four-column output preserves the categorization signals without retyping, so the rule-based reconciliation layer survives merchant-processor changes.
Decision framework for this topic
For the broader context on US bank-statement reading, see the consolidated hubs on merchant category codes, payment rails, and the statement anatomy. These hubs work together to cover credit-card statements, bank-account statements, and the categorization signals that survive merchant-name truncation.
Each hub is built to be the canonical reading for one cluster of search intent, with cross-cluster links that take you to the right next node.
When reconciliation runs into edge cases, the practical answer usually lives in the federal-regulations cluster, the bookkeeper-resource cluster, or the credit-card-statements cluster. Each offers a domain-specific take on the same underlying signal. The merchant category code is the same whether the reader is the small-business owner, the bookkeeper, or the lender.
For lender workflows, the merchant category code on credit-card statements and the ACH SEC code on bank-account statements are the two signals underwriters most often scan first. Lenders use the four-column conversion output as a quick reference for what the borrower actually spent.
Cash advances flagged at MCC 6011 and quasi-cash at MCC 6051 draw particular scrutiny at mortgage underwrite, and crypto exchanges on the ACH rail draw additional questions for self-employed applicants.
For bookkeeper workflows, the categorical signal ties directly into the chart-of-accounts. A bookkeeper who maintains categorization rules keyed off the merchant category code can process dozens of clients per week without manual categorization of common merchant types. The conversion output is the durable input; the rule set is the durable work product.
Easy Statement Sheet reads bank-statement and credit-card statement PDFs into a clean four-column output (Date, Description, Amount, plus Merchant Category Code for credit-card statements, plus the running balance for bank-account statements). Files are never stored. The conversion runs entirely in memory and produces a deterministic output that downstream tools can parse.
The first three statement conversions are free, no card required. Plans start at $15 per month. The four-column output preserves the categorization signals without retyping, so the rule-based reconciliation layer survives merchant-processor changes. For bookkeepers handling dozens of clients per month, this is the highest-leverage workflow to standardize.
Related reading and broader clusters
For the broader context on US bank-statement reading, see the consolidated hubs on merchant category codes, payment rails, and the statement anatomy. These hubs work together to cover credit-card statements, bank-account statements, and the categorization signals that survive merchant-name truncation.
Each hub is built to be the canonical reading for one cluster of search intent, with cross-cluster links that take you to the right next node.
When reconciliation runs into edge cases, the practical answer usually lives in the federal-regulations cluster, the bookkeeper-resource cluster, or the credit-card-statements cluster. Each offers a domain-specific take on the same underlying signal. The merchant category code is the same whether the reader is the small-business owner, the bookkeeper, or the lender.
For lender workflows, the merchant category code on credit-card statements and the ACH SEC code on bank-account statements are the two signals underwriters most often scan first. Lenders use the four-column conversion output as a quick reference for what the borrower actually spent.
Cash advances flagged at MCC 6011 and quasi-cash at MCC 6051 draw particular scrutiny at mortgage underwrite, and crypto exchanges on the ACH rail draw additional questions for self-employed applicants.
For bookkeeper workflows, the categorical signal ties directly into the chart-of-accounts. A bookkeeper who maintains categorization rules keyed off the merchant category code can process dozens of clients per week without manual categorization of common merchant types. The conversion output is the durable input; the rule set is the durable work product.
Easy Statement Sheet reads bank-statement and credit-card statement PDFs into a clean four-column output (Date, Description, Amount, plus Merchant Category Code for credit-card statements, plus the running balance for bank-account statements). Files are never stored. The conversion runs entirely in memory and produces a deterministic output that downstream tools can parse.
The first three statement conversions are free, no card required. Plans start at $15 per month. The four-column output preserves the categorization signals without retyping, so the rule-based reconciliation layer survives merchant-processor changes. For bookkeepers handling dozens of clients per month, this is the highest-leverage workflow to standardize.
From PDF to Excel in one click
Forget retyping line by line. Upload any bank statement, get a spreadsheet you can actually use. Your files are never stored, and you can test the converter with 3 free conversions.
Try it free
