When one of your swaps imports to Awaken as two separate transactions, it usually means it was a cross-chain swap. There’s no need to link the transactions together, as long as they each are correctly accounted for.
What is a cross-chain swap? A cross-chain swap occurs when you exchange cryptocurrency assets between two different blockchains. An example would be swapping USDC on Base for ETH on Arbitrum. Exchanges that support cross-chain swaps include Chainflip, Matcha, THORChain, and SushiSwap.
How does Awaken Tax categorize cross-chain swaps? Unlike regular swaps, cross-chain swaps appear as two separate transactions in Awaken Tax:
The outgoing transaction is labeled "coin sell".
The incoming transaction is labeled "coin buy".
This differs from a traditional swap, which is displayed as a single "coin swap" transaction.
Does this affect how taxes are calculated? No. Taxes for cross-chain swaps are calculated the same way as regular swaps. The separate labeling of transactions ("coin sell" and "coin buy") is purely for clarity and does not impact the calculation of gains or losses.
Why are cross-chain swaps shown separately? Since cross-chain swaps involve transactions across two distinct blockchains, the software naturally identifies them as separate events.
Do I need to take any additional steps for tax reporting? No additional steps are needed. Awaken Tax automatically captures both sides of your cross-chain swap transactions. Simply verify the accuracy of transactions, and your tax calculations will be correct.