XRP and XAH Taxes

The booming world of cryptocurrencies has led to a surge of interest not only in investing but also in understanding the tax implications of digital assets like XRP and XAH.

Why Are XRP and XAH Taxable?

In many jurisdictions, cryptocurrencies—XRP and XAH included—are treated as capital assets. Every transaction—buying, selling, sending, or receiving—may have tax consequences. Accurate and complete transaction recording is essential for crypto tax reporting.

How Bithomp XRPL and Xahau Explorers Help Taxpayers

Existing Problems

Many crypto users require transaction exports for tax purposes, but existing tools often fail in several critical areas:
• Limited Token Support – Most solutions ignore IOUs (DEX tokens), leaving gaps in reporting.
• Inaccurate Calculations – Transfer fees are often missed.
• Lack of XRPL and XAHAU Compatibility – Many tax tools don’t support these ledgers.

Our Solution

We provide:

• Extensive Calculations – Covers payments, NFT sales, AMM transactions, and network fees.
• Accurate Token Value Calculations – Historical prices in 40 fiat currencies based on order book depth.

How We Make Calculations

• Retrieve 1000 (or 100 depending on server) best offers from the order book for the given ledger index.
• Take the AMM pool for the ledger index.
• Check offer remaining amounts and verify the offer owner’s funds (if an owner has multiple offers, we validate funds for all).
• Generate an AMM offer with a better rate than order book offers and use it if possible (only once, with the best offer available).
• If no offers remain, convert the entire amount via the AMM pool (if it wasn’t used before).
• Move to the next offer and repeat from step 3.

Important Notes and Limitations

• AMM pool can be used only once per calculation, and only with a rate similar to the best available offer.
• We do not check if an offer owner has authorization for holding IOUs.
• Rippling is not supported.
• Multipath payments are not supported.
• The 1000 (100) order book retrieval limit depends on the server used.

CSV Export Compatibility

Our CSV exports are compatible with 7 of the largest and most popular crypto tax reporting platforms:
• Koinly
• CoinTracking.info
• CoinLedger
• CryptoTax Calculator
• TaxBit
• Blockpit
• TokenTax

How to Get Your Transaction History for Tax Reporting

Step 1:

If you are not yet a Pro Subscriber, purchase your subscription HERE.

Step 2:

Add the address you want to track.

Step 3:

Wait for the data to synchronize (usually takes 1–10 minutes). Once ready, you can view and download the transaction history. You can track one or multiple wallets at the same time.

Step 4:

Set your filters (select the date range), remove dust transactions if needed, and press the CSV button to download your file.

Step 5:

If you need a CSV file formatted for one of the supported tax platforms, simply select the platform from the list and download the corresponding CSV. Then, open your tax platform and import the file.

Watch our detailed video tutorial How to search through transactions on XRPL.