How to Use Koinly to Help You File Your Crypto Taxes

Thank you very much for this excellent tutorial. If my goal is to obtain my tax report for 2023, would I be required to enter transactions prior to 2023 into koinly platform or would I already obtain a good tax report for 2023 by entering 2023 transactions only? Thank you so much.

I can’t paste from my ledger!

One question pls, if you wanna sell one of your tokens but wanna keep the others do you have declared all the others tokens that you have in all wallets and declared at the end of the year at the HMRC? Or you just declare that how many tokens you have left from the token that you are selling?

Hi Crypto dad, I have a question please and would appreciate your opinion (I know its not financial or tax advice). If I buy USDC on coinbase send it to my metamask and then swap it on uniswap immediately for another token do i need to report this on form 1040 section D to the IRS even though I haven't sold and am still holding the token, amd there is no gain or loss. In other words it was an immediately swap with a gain or loss form one token to another.

The pay plan is only for 1 time, or is forever?

Lbank doesn't fully load up. Be careful out there

Absolutely amazing video 👌 perfect detail on what to do. My only question is, once you have paid and you get your download, do you print them and send them to HMRC or attach the file download if you do a self assessment. Just abit confused what to do once you’ve paid and got all your info on a file. What to do next 😕

have you already paid for expert service at Koinly? Does this had some helpful moments?

Does Koinly support Tangem Wallet or do you have to manually enter each transaction into Koinly? Thanks

Is there any help out there with logging things like bridges of tokens.ive spoken to koinly loads of times and they send the help they can but I can't do it. There must be a telegram group out there

If i buy 10,000 transactions can i use that over multiple tax reports up to 10,000 transactions or only 1 report with up to 10,000 transactions in that 1 report?

Hey CryptoDad, I've watched almost every episode of your channel! You are the man and your content is so clear and easy to follow! Question 1: Koinly is calculating "transfers" from one of my wallets to another one of my wallets as profits (in some cases, losses). Are transfers between wallets that I own considered taxable "disposals"? the guidelines seem to be a bit murky on this. Question 2: If a friend sends me $ 30 of BTC (deposit) and then I send him back $29 (sent) is this considered a gain? The friend was trying to teach me how to send and receive BTC within my Sparrow wallet. So this was a way to demonstrate and teach me how to perform a receive and send transaction. Because of the different BTC prices, the send and receive amounts are not the same. Plus in sending BTC back to him, I also accrued transaction fees. With this scenario, should I tag the two transactions as something different than "deposit" and "sent"? Is this a "gift" or some other tag? Appreciate your comments and insights.

Hey CryptoDad, Great and informative! Have a question for you. What if you use Sparrow wallet to store bitcoin. How do you link a Sparrow wallet to Koinly? (I don't see it listed on the wallet integrations list. Thanks!

I have a problem with Market Prices being missing from some transactions.
So their help article says to click on a little edit button and neat window should appear to enter the missing cost price. But that is non-existent so I believe the platform has changed/updated since that help page was created. 

I have the historic market price, I just need to enter it correctly to my coin. Can anyone tell me how? 

(please don't refer to me to Koinly's help page on it. )  
I cannot get help from Koinly. Contacting Koinly is horrendous. Plus the stupid Bot options are just that 'stupid'. Koinly responses are delayed by days +++ and when they finally respond they say 'nothing is wrong'. And their help article is wrong or outdated.))

Thank you for all your advice and information on how to use Koinly, could you share with us how to navigate and input into Koinly the funds I transferred to Celsius for loans.

If you downloaded 1year Csv file from binance, will that show the purchased you have done with your bank card too??

This is in Australia? As far as know Syla app must be used?

do you have a discount code i can use (i am already using koinly, existing user). thanks

You just made my day again, Rex. I have been struggling with this for some time and having watched a few other videos without result, sort of gave up.
So pleased I found your easy to follow instructions and explanations. Thanks again.

Great tutorial as always

Hi Crypto Dad please let me know how to deal with wallet like TanglePay and exchange like ChangeNOW or Changelly thx

Best crypto HOW TO in the whole business! Brilliant

Clear and concise video! Thank you.

How does this platform work with sites like Public, Webull, and Robinhood etc?

Do you like coin ledger or koinly better?

What if some wallets have different emails

Thanks. Good informative video.

Great content been following since early 2021 ! Thank you for your thoroughness and simple break down. Can I make a video request about NFTs and koinly

Great!

How can I account on Koinly for simple withdrawals from a trading platform into my Trezor?

Do we have to pay to get full report or we can just do our taxes with Gains shown on screen and we just tell the accountant verbally without having to pay for koinly for report???

Hi, Does it support leverage like Doge5L please? I added api and did not see the correct transaction for Doge5L.

I tried the XPUB from my cold wallet but Koinly won't connect - anyone have this issue??

If the crypto exchange uses HIFO then do I need to use HIFO on koinly?

Why are your screenshots so blurry?

Whats your favorite. Taxbit koinly or cointracker?

what does proceeds from sales and acquisition sales mean in the Tax report. I think the one i received is a little too high in that part.

Thanks Cyptodad

WOW!! I'm so glad to run into this since 70y.o. and don't what what to do. One quick question, I store the bulk of my holdings on a Ledger Nano S however, I do have some of the same crpto's on my Exodus wallet...do I just use the receive key from both or can I use an API for all of my Exodus holdings? Geez, so complicated

Your step by step instructions where very easily followed. Almost nobody who tries to do a video like this succeeds. You did! Thank you for going through each step carefully and slowly. And for me, what was so important was the explanation right in the beginning that you also need to connect you cold storage wallet (ledger) or it will look like you did transactions which would be taxable. Again, thanks!

Is the fee annual or ongoing? If I pay for the Pro account (I am +10,000 transactions) do I have to pay again next year or is it a one-off payment?

Hello CryptoDad! In the case one has a few Etherium or Bitcoin accounts, how it will work. When you added .... connected your wallet to Koinly, it added to "wallets/exchanges and gives a green mark. If I need to add another account - should I repeat step 1? Thank you! Your tutorials are the best!

Does koinly put into account Binance buying and converting events when using API connection?

How do you sync trezor model t to koinly?

Rex, Nice video as always, I Joined Koinly and linked Coinbase, OKCoin, Blockfi, & Uphold with no major issues. I DCA BTC through the Strike app, I'm Having a problem hooking Strike App up with Koinly (Can't find the strike wallet in Koinly). any suggestions ? Regards, RF

Thanks!

If there is any updated info about transferring from ETH to ETH 2.0, whould you please discuss it in future posts., Thank you.

Thank you, updated and useful information.

Thank you Rex, very useful walk through, excellent job.

One of the best videos out there on a topic we all need more coverage on! Thankyou @cryptodad!