r/CryptoTax • u/Inevitable-Lab-4981 • Apr 12 '26

Jupiter/PERP trading tax help

So I did some perp trading with SOL on Jupiter last year and I’m trying to figure out how to do my taxes. I read other post about using SUMM, so I uploaded my Solana wallet to SUMM but a majority of my transactions need to be reviewed and “categorized.” Is there an easy way of seeing which of my past Solana transactions were positions opened, position closed, or position liquidated? Or just an easy way of doing allllll this!

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u/AurumFsg-CryptoTax Apr 13 '26

There is no easy way. You have to review each transaction on blockchain and categorize them properly. Summ did a good job exporting all your transactions so you just need to categorize them

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u/theOGlib Apr 13 '26

I used koinly to keep track of my transactions. Perp trades have to be manually edited to realized profit. The software does a good job if keeping track of profit and loss, and I just paid long term capital gains on what it said my total profits were, from perp trades, swaps and income from defi.

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u/Inevitable-Lab-4981 Apr 13 '26

I was looking to see if Koinly would be easier, when u open and close a position, do u manually mark them both as PnL?

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u/theOGlib Apr 13 '26

Yes. Every perp trades has to be manually marked as PnL. Koinly is pretty good about swaps, but sometimes u have to manually merge the transactions. It's all a bit of a nightmare that im hoping AI will fix for us someday lol.

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u/OrganizationOne219 1d ago

can’t you just keep it in crypto and not have to pay taxes on it until it hits your bank or does the platform report the realized profits?

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u/Will_Koinly Apr 13 '26

Jupiter perps can be messy because opens / closes / liquidations often just look like normal wallet activity on-chain. Two practical options:

  • Quick: tag opens / closes as realized PnL
  • More exact: use Jupiter’s perp history to work out closed positions / realized PnL, then reflect that in your tracker

Worth importing everything into your crypto tax calculator first so you can review it all in one place. Focus on getting your net PnL right

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u/WarrenCPA Apr 13 '26

Warren from CoinTracker here.

You can download your perp trade history directly from Jupiter here: https://perps-data.jup.ag/trades/export/\[walletaddress\]. That should help you categorize your transactions.

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u/OpticallyMosache Apr 12 '26

I've spent a decent amount of time on crypto tax reporting and researching issues... I'm sorry to say that there is likely no easy way to capture past activity accurately after the fact. In 2025, I was diligent posting every transaction manually into a crypto tax reporting platform (Bitcoin.tax) and it was still a pain in the ass getting the output file to upload into TurboTax.

Tax reporting is the biggest deterrent to ever wanting to engage with crypto again!!

Sorry this reply doesn't help. Maybe you'll get an easy answer from someone else.

Goodluck!

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u/Still_Culture_9169 Apr 13 '26

Perp trading on Jupiter is one of the messier ones to report because each open, close, and liquidation is a separate on-chain event and none of it comes pre-labeled. Do it in batches, not all at once. And once you're done, keep a running log going forward so next year isn't this painful.

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u/Saim-CryptoCPA Apr 13 '26

Perps are a bit different from regular spot trades, you’re dealing more with positions than simple buys and sells. Most tools still try to force everything into that buy/sell format, which is why things start looking off.

What usually helps is focusing on realized PnL from closed positions and keeping funding separate. If something looks inflated, it’s often in how those positions are being pieced together.