How to get started doing your taxes in Awaken

After you create your Awaken account and connect your wallets, the next step is to review your account for missing information and make sure your tax numbers look accurate.

Use this quick checklist to get started.

The first thing it’s important to do is to make sure you have imported all of your relevant wallets and accounts. Awaken helps here by trying to identify wallets we think may be yours based on your transaction history.ou can find suggested potential wallets by clicking the orange link in the top left of the accounts page:

Click into the transactions involving each wallet. If you recognize any of them, add them to your account so Awaken can include the full transaction history in your tax calculations.

Next, go to your high-priority transactions, which you can find by clicking the red notification dot in the top right corner of the transactions page:

These are transactions that may need your attention first because they have a larger potential impact on your tax results. They often require simple labels, so these are a great place to start.

Review each transaction and apply the correct label where needed.

The easiest way to do this is to navigate to the taxes tab, and click into the capital gains bar chart to review your gains and losses in more detail. Clicking any of the individual bars in the chart will bring you to that month’s capital gains transactions:

Sort by the tax year you are working on, then look for any years or transactions that seem incorrect or unusually high. Apply or update labels as needed.

Finally, click into the income bar chart on the right hand side of the taxes page.

Sort by year and review the income totals. If anything looks incorrect, click into the relevant transactions and apply the correct labels.

After going through the first round of edits, hit recalculate in the top right corner of the Transactions page. If you have edited any transactions that need to be recalculated, it will be highlighted in orange like this:

At this point you have completed the full workflow of working on your transactions in Awaken and you should have a basic understanding of how our software works.

A good starting workflow is:

Following these steps will help you quickly identify missing wallets, unresolved transactions, and labeling issues that may affect your final tax report.