How to Report Magic Eden NFT Taxes with Awaken
Magic Eden is a top-tier, multichain NFT marketplace, supporting Solana, Ethereum, Bitcoin Ordinals, Base, and more. Whether you're flipping NFTs, minting inscriptions, or collecting digital art, every transaction may carry tax consequences, and Awaken Tax helps you stay on top of them.
This guide explains how to connect your Magic Eden wallet to Awaken, so you can automatically track your NFT activity across multiple chains and file your crypto taxes without even breaking out your calculator app.
✅ Step-by-Step: Connecting Your Magic Eden Wallet to Awaken
Magic Eden is fully non-custodial, meaning all trades occur on-chain via your connected wallet. To track this activity in Awaken:
Log in to your Awaken account
Go to the Accounts tab and click Add Account
Select the blockchain you use on Magic Eden (e.g., Solana, Ethereum, Bitcoin)
Click Add Wallet and paste in your public wallet address
Awaken will fetch your full NFT history — including mints, listings, sales, and transfers — from that wallet.
📌 If you’ve used multiple wallets across different chains on Magic Eden, repeat this process for each wallet address.
📄 Optional: Upload a CSV of Your NFT History
If you prefer manual tracking, or traded on a chain that Awaken doesn't have API support for, you can upload your transaction history via CSV. Once you have your Magic Eden CSV:
Go to Accounts > Add Account > Upload CSV in Awaken
Follow our formatting guide: 👉 How to Format Your CSV for Awaken Tax
Once formatted, upload the file, and your NFT transactions will be added to your tax report.
🔗 Don’t Forget Other Wallets and Chains
Magic Eden supports 10+ blockchains, so make sure to connect all wallets you’ve used across Solana, Ethereum, Bitcoin Ordinals, and any other chain you used.
Check if your wallets are supported here: 👉 Awaken Integrations Hub
🌍 NFT Tax Rules Vary by Country
The taxation of NFT transactions varies by country. Many treat sales as capital gains, but some classify certain activity as income.
Awaken Tax provides localized tax reporting for 50+ countries. Review the global tax rules here: 📚 Global Crypto Tax Landscape 2025
🕵️ Does Magic Eden Report to the IRS?
No. Magic Eden is a non-custodial platform and does not report your activity to the IRS or any tax authority. However:
If your wallet interacts with a centralized exchange, that exchange may report your transactions.
On-chain activity is public. Even without platform reporting, authorities can trace wallet addresses linked to you.
That’s why it’s essential to keep clean records — and Awaken makes it easy.
Final Thoughts
Trading NFTs on Magic Eden spans multiple blockchains, which can make tax reporting a challenge. Awaken Tax simplifies the process by automatically importing your wallet activity and generating complete, compliant reports.
Whether you’re active on Solana, Bitcoin, or Ethereum, you can integrate your Magic Eden wallets in just a few clicks.
