Recap supports direct integration with Kraken Futures via read-only API access and accountLog CSV file. Once set up, the Recap's application will categorise all of your transaction history and calculate your tax position.
As there is no explicit cryptocurrency futures tax guidance from the IRS or HMRC. Recap has excluded the futures net gains or losses for a tax year from the capital gains tax summary, leaving it to your tax advisor or accountant to make a determination of how this should be treated.
For your security and privacy, the integration with Recap and Kraken is a direct connection between the Recap app and Kraken. Recap as a service does not hold any credentials that would allow us to connect to your accounts. . We also use end-to-end encryption to ensure that the only person who can see your data is you.
Step 1 - Log in to Kraken Futures
Login to Kraken Futures as you normally would.
Step 2 - Navigate to Settings
Navigate to your profile (top right) then choose Settings using the tab menu navigation.
Step 3 - Generate a new API Key
Create a new API key with General API set to "Read Only" and Withdrawal API "No Access".
Step 4 - Enter the API Key and Private Key
Copy and paste (or very carefully type) the Public and Private key into Recap. Don't worry, the keys in this guide are fake.
Step 5 - Download AccountLogs
Head over to the Logs section of the Kraken Futures website.
At the bottom of the page. Select Download All.
Save the file to disk.
Step 6 - Upload AccountLogs to Recap
In Recap select the accountLog file you have just downloaded and click next.
Congratulations Kraken Futures transaction are now in Recap. We are currently working with Kraken to make this a much better user experience by removing the need to download and then upload the account log file. In the meantime to update your account please periodically upload a new account log into Recap by selecting the Upload new account log option from the settings icon.
As soon as Kraken support a better way we'll upgrade Recap to support it.
Click Support on the left menu to talk to us from within the app or join our telegram group