Koinly reward tag. You can now delete the unrecognized token.

Koinly reward tag I lent some crypto to my wife for the purpose of gaining some rewards (deposit 250 USDC and hold for 30 days for a 10 USD BTC bonus). In most instances, Koinly is pretty smart and will automatically recognize and tag To do this, select the transaction in question and simply tag any airdrops, staking rewards, mining, and forks. Your Q: Won’t the initial “deposit” of 10k USDC from borrowing be seen by Koinly as 10k USDC in income without any basis? Answer (based in part on Koinly Help article): No. Unchecked, meaning do not treat it as income. Trading Fees & Transaction Fees. We support liquidity transactions carried out on the Ethereum, Binance Smart Chain, Polygon blockchain, and more. In case you're wondering, in most countries you could pay CGT on your crypto disposals in these situations:. The staking rewards are automatically added when you do transactions in Algo (send or receive), if you do this daily or even several times per day you will get a insane amount transactions for just rewards. Tag them all as "rewards", then go to settings and toggle off "treat rewards as income". io/en/ Q: I need to contact Koinly support where can I find their contact details? A: You can find the official support page here: https://koinly. It's easy to track and tag your staking transactions with a crypto tax calculator like Koinly with automatic and manual tagging of staking rewards. 9 million or you saw I just tried it and Koinly assumes zero-cost on all rewards and mining transactions. Koinly can help you calculate your crypto taxes - including the taxation of any gas fees. Updated over 3 months ago. @koinly can you please publish and / or let me know about help pages for this? 1 Like. Trading Fees & Transaction Fees How Koinly handles transfers between your own wallets. Want to know which crypto has the highest staking rewards in 2024? From ETH to ADA, there are plenty Koinly. What is the recommended protocol (tagging, soft deleting, manual CSV, re-whatevering) the profits made from a short sale, so that I can import it properly into Turbo Tax? For instance I wanted to short $100 worth of AVAX so on GMX I provided $101USDC collateral on the April 30th. radlands_geek. 0. Rewards are not changing to zero cost. Just find the transaction(s) you know are income and tag them using the three dots on the right-hand side. Feature requests (public) 1218. You should find these and tag them as “Sent to It becomes a real big problem for me to use Koinly at the moment. Update 2023: Uniswap V3 is now supported automatically on all major chains. Importing data. Should that be a trade? Or should it be a withdrawal of ETH marked as “cost”, and a deposit of the airdrop, marked as airdrop? I can’t remember if UNI required ETH to receive but I will use it as an example since it is a famous example. HashPack Wallet is a non-custodial HBAR wallet and acts as a gateway to Hedera dApps, DeFi and NFTs, as well as letting investors stake HBAR to earn rewards. Transactions / Tags. As to debit card I don’t know. A. I. By Robin and 3 others 4 authors 39 articles. Which i think is right as it does see where i got the Staking. By Robin and 3 others 4 authors 15 articles. So you’d have a Send transaction and a Deposit It's easy to track and tag your staking transactions with a crypto tax calculator like Koinly with automatic and manual tagging of staking rewards. E. Being paid in crypto for a service. g. The latest craze in crypto might have big implications for your tax bill. The below text only applies to other protocols that Describe the problem: If Koinly does not automatically detect a LP pair (in my case, sushiswap on polygon, which should be supported), there is no way to merge the 3 transactions as Liquidity In or Out. Calculate gas taxes with Koinly. How to select a specific NFT. This generates a couple of cents daily currently. However the balance From here, Koinly will identify your different crypto transactions and apply the relevant taxes. Koinly Support. That's why we've put together our UK DeFi tax guide, covering everything you need to know about how HMRC views DeFi transactions including crypto loans tax, DeFi staking Cointracking either pulls a staking ID from the blockchain, or simply assigns an ID to the transaction to the pool. “Once your data is imported, Koinly uses smart AI to automatically tag different transactions - including forks. Table of contents. You can see an example of how Cardano staking rewards would look below in Koinly. When you trade or transfer cryptocurrencies, fees are often involved. There is no tag needed for these. When you import your transaction history to Koinly, it You need your crypto tax calculator to support all of the cryptocurrencies you’re investing in and all of the exchanges and wallets you’re using - and Koinly is miles ahead of CoinTracking when it comes to integrations, with more than 800 exchanges, wallets, and blockchains supported, compared to CoinTracking’s 439. When In the Settings, you can modify the behavior of most "income-like" tags (Reward, Airdrop, Fork, Mining) by deciding if you want to treat deposits with such tags as income or not. Koinly is a crypto tax software that supports individuals, business investors, and accountants. SmileyCoin is a cryptocurrency that was designed to reward students while also supporting charity. At this point I understand it is not yet a taxable event. Koinly does this automatically in most cases but sometimes the data imported may not tell Koinly that a The Gift tag can only be used when you yourself gift coins to someone else. Investors receive dividends for investing in the system Block Reward. But navigating HMRC DeFi guidance isn't always easy. You can now delete the unrecognized token. Feedback. Getting started. Mining tokens - like income. Bulk editing and deleting. Reflection, Taxed and Rebase tokens they will not be imported to Koinly automatically and need to be added manually. I’m going to be farming my Gotchiverse Realm soon which is many incoming transactions a day from the same wallet address i’ll need to individually tag these as income. It might be that Koinly are happy with people being pulled in by the 'Beginner or 'Hodler' price plans, but then finding they have to buy the more expensive plans to include all the transactions that come from staking. You can then select up to 50 transactions at a time and tag them all at once. ⚡ Learning rewards and other bonuses need to be added manually (deposits with a "Reward" tag) Having trouble connecting . The term "block reward" refers to the incentive given to a miner for successfully validating a new block of transactions and adding it to the blockchain. If Most of the time this transaction matching will work well but sometimes Koinly can make mistakes especially if you are moving the same amount into different wallets ex. However, I quickly realize it is not worth it if I’m going to use Koinly as a tax report service as you charge based on number of transactions. It works by re-tagging rewards or when re-creating. But Koinly will loose out to competitors if the competitors deal with this by offering aggregate rewards feature. You can apply a tag to your transactions in Koinly to modify the transaction's behavior or for better categorization. Periodically, you will receive rewards for staking your assets. koinly. Deposit txns that are not tagged or labelled will not be treated by Koinly as taxable transactions. I receive small daily staking rewards from one of the coins in the Cosmos ecosystem, and I manually add them to Koinly and tag them as “Rewards”. You’ve probably seen NFTs pop up in the news in recent months. Koinly makes calculating your liquidity mining taxes easy. Typically this scenario looks like Send some USDT and DAI into a liquidity Crypto mining rewards are taxed as income upon receipt in the US (and most other countries!), meaning you’ll pay Income Tax on crypto mining rewards. Koinly adds the . 4). DeFi interest - like bank account interest. koinly would say " missing purchase history for 5 BNB". If you live in a country where airdrops are treated as income, you can head into the The easiest way to tag all of your rewards is to filter for the STRONG currency and by Deposits only. Use Koinly to help you calculate your Ethereum staking taxes. BTTUSD can be either BT-TUSD or BTT-USD). Written by Robin Singh. Log in Sign up. By Robin and 2 others 3 authors 14 I want to be able to tag all deposits from a specific transaction source as Reward or something similar. Just make sure you set the "Tag" column to mining or reward so the incoming transactions get tagged properly. Whether you saw Twitter founder Jack Dorsey sell his first tweet for a casual $2. I’ll attempt to describe this as simply as possible. Uniswap V3 and other protocols that don't provide an LP token. 2 This don’t solve the problem with staking on Algorand. I create a separate custom wallet for pools and then. Koinly's Accountant Platform is just that, a crypto tax calculator that imports all your clients' crypto trade data to figure out their taxable totals Stay up to date with the latest crypto tax regulations: detailed tutorials and advice from industry leading tax accountants. H. Best of all, it’s free to sign up to Koinly today. It is correct to give the Fair Market Value to reward coins, since it is in Essentially, Koinly does all the boring tasks that would cost you hours and hours sitting at a computer. Look Koinly will then automatically tag this as income and include it in your tax summary. so adding to pool and removing from pool can be identified as the same principal and the rewards can be split automatically. Learn what NFTs are and how they’re taxed - including the updated guidance from the IRS around taxing NFTs as collectibles. I try to store my borrowing and lending history on Koinly. How to do TaxAct cryptocurrency taxes with Koinly. However, sometimes the data from the exchange/blockchain is ambiguous - in such cases, you need to find and tag those transactions manually - see our article on what are tags for more information on what each tag does. Describe the problem: Whenever i stake tokens in any staking pool and earn rewards and deposit back to the pool , koinly flags the additional tokens received with a warning " missing purchase history for x tokens". N. Hi there, I have a VeChain wallet that accrues VTHO continuously, and doesn’t seem to be pulled in to my portfolio as part of the wallet integration. But now I am confused about how to tag things correctly to get the right result. Assuming that all the other transactions (and manual taxes) were accounted for, this means that a deposit tagged as a "Reward" of -45068598. We also have an article regarding Stongblock Nodes that can be applied to The official subreddit for all things Koinly and crypto tax! Also, for rewards such as referral rewards, or Coinbase quiz rewards, should these be set as “income” or “zero position cost” in Canada? And yield from Celsius, I’m assuming that would be “income”? As in taxed at my full income tax rate like interest from a savings Hello I’m trying to generate a tax report for my Solana wallet and I need to know if I have to import all of my individual staking wallet accounts that are associated with my Solana wallet address, and if there’s any additional information I need to import that coincide with the staking accounts? So far, I’ve imported all of these but here in the UK, staking rewards are classified as 2) Decision to tag all untagged deposits/withdrawals to/from identified wallet as a specific tag automatically. Staking denotes the act of actively participating in transaction validation on a proof-of-stake (PoS) blockchain. Describe the problem: Hello rocking tax-brain masses of Koinly. Whatever Ethereum staking protocol you’re using, Koinly can help you calculate your income or gains, keep track of your tax liability throughout the year, and generate your tax forms to help you easily file with your tax office. Swapping: Profits from swapping crypto with crypto. Is I am not mistaken, the LP tokens are basically symbolic (zero value). The rewards transactions can account for up to 50% of the Algo transactions if you are unlucky. P. It sounds as though your DEFI transfers (deposits) are being tagged as Mining deposits. I’ve attempted multiple wallet syncs, and just earlier, I’ve completely deleted the wallet and re-created a whole new API key set. koinly. The issue now is, that I still have Sponge v1 shown in my Koinly account which don`t really exist anymore because they are part of the Reward, which I have got from the Reward/Claim of v2. Koinly has put these records to “Exchange” and the “send to pool” tag is not available. Remove the Reward tag from the v2 airdrop; Merge the Send and Deposit, it should now be a trade and transfer from ETH → Polygon KOINLY answer please staked rewards are not shown? Will they be accounted for after the sale/transfer/exchange? or something My coinbase rewards show up , algo rewards show up every single day like clockwork. Since this date, I also have not seen correct Reward entries appear on my Koinly account. I use Binance to stake a small portion of my crypto. Bug reports (public) 274. Staking definition: The process of participating in a proof-of-stake network to support its security and earn rewards. Your data should be labeled automatically, but if it isn’t you can tag your DeFi transactions as a loan interest, received from pool or a reward for deposits. Koinly. Tax Reports. ” Should I tag incoming ones as Reward ? Airdrop? Other Income? And what about Hi Koinly Team, how are Brave Browser Rewards seen from a taxes point of view (especially in Germany)? In 2020 i have received some here and there, my Wallet is not verified. However the balance and number of transactions remain 0. Staking the LP tokens isn’t a disposition either. ⚡ Just follow a few simple steps! Open main menu. Koinly automatically factors in these fees to give you an accurate picture of your tax liabilities. That's why the divider needs to be added to the Pair column in our 🟫 Trades template. Roadmap. January 19, 2021, 7:24pm #6. Koinly makes crypto tax easy. Reflection, Taxed and Rebase tokens. I have successfully added my Rewards wallet (it is now easier to find the rewards wallet address with the latest Daedelus release 4. The crypto you receive is your own and the fact that it was borrowed makes no difference from a tax perspective. Your data should be labeled automatically, but if it isn’t you can tag your DeFi transactions as a loan interest, received from pool, or a reward for Hi, I have just started using Koinly, have finished importing my wallets and exchange accounts, and finished reading through the Tax Guide Germany. However, if you are using Ethereum or Binance Smart Chain then these transactions will get imported as withdrawals. The protocol utilizes a unique model where users can provide liquidity to an index-like basket of assets known as GLP. You can tag the Withdrawal as ‘Sent to pool’ which basically just tells Koinly that the tokens are still your property (FYI, Koinly just creates a hidden ‘Pool’ wallet where the tokens are transferred so the results are exactly the same as Dom’s method). If it would recognize the pool removal and deduce the reward amount based on the difference, that would be even better. $7 of ETH > 20 UNI (trade) OR $7 of ETH withdraw marked as Erfahren Sie, wie Sie Koinly einrichten, konfigurieren und verwenden, um Ihre Steuern zu berechnen und Ihr Portfolio nachzuverfolgen. . I would assume staking rewards should do the same? Looking for an @koinly friend Koinly sees all of these steps as sales or dispositions, but I don’t think that is correct.  · Such transactions are imported into Koinly as regular Deposits. I was wondering if cashback on the card is considered as income similar to staking rewards? The good thing about Koinly is that it is Transactions / Tags. Koinly should at least recognize that a staking tx is not a simple send by seeing the Program Owner = Stake Program. Create. Check out the article Staking and farming tokens to tag your staking activity. Whatever your investments, getting your HBAR crypto taxes done with Koinly is easy - just connect with your HBAR address. There is also an option to turn off income reporting for rewards. Koinly marks those as “No market price found for TOKEN_NAME on this date. Rewards tag should be used for income from staking / minting / masternodes / affiliate bonuses etc and are shown on your income report. If for any reason your transaction history is incorrect, don’t worry, you can also tag income manually. Tagging a trade as a Swap will tell Koinly to treat the trade as a non-taxable event so the cost-basis of the first asset is simply carried over to the second asset. Liquidity provision isn’t a trade, as the coins aren’t sold. After this, Ok so is this something that Koinly going to look up? Because the reward wallet in Cardano (ADA) ecosystem is hidden or non existing (a special wallet). This has resulted in the same set of transactions being imported, the same Reward entries not appearing since the above CoinSpot pairs perfectly with Koinly to generate your CoinSpot tax statements! 🤝 Sync CoinSpot with Koinly to calculate your CoinSpot taxes fast. Common scenarios. Think of this as borrowing fiat from a bank and then investing the fiat into a cryptocurrency. 28 Nov 2024: Updated for 2025 30 Oct 2024: Updated with the new tax cuts for the 2024-25 financial year! 9 May 2023: Updated with new guidance from the ATO ahead of the EOFY! Transactions / Tags. Airdrops - like bonuses. What should I do to switch these movements to “send to pool”? Which exchange/wallet is this regarding? MetaMask How did you import data into this wallet? API What have you tried to fix this so far? Koinly tries to tag all the special transactions automatically using the tags: Airdrop. How Koinly sets the market price for your transactions. What are rules? Bulk editing/searching. But when I sell or trade the rewards (which is a taxable event in Finland), my cost basis is shown as market value when I received the reward, and not If you are confident that a rollover is available in the circumstances, you can tag the withdrawal as a “Gift” and Koinly will not subject the disposal to capital gains treatment. Koinly is able to spot trades that are subject to Capital Gains Tax (CGT) so you won't need to worry about this. From what I read, the defendant rejected the refund in order to get an official precedent, and the court case won’t be till 2023, so this is far from a decision. You'll need to identify the fair market value of any ADA tokens received as a reward for staking, on the day you received them, in your country's fiat currency. would be Some protocols pay out rewards as new tokens, while some pay out rewards both via LP tokens and with new tokens. June 26, 2021, 12:06pm #2. PopPop Hi! I receive solana staking rewards on my holding portfolio of solana in binance - I need to know how am i supposed to calculate the tax liability for these staking rewards? Let me lay out an example: I receive solana staking rewards into my binance wallet everyday - I wish to use this as passive income, so I hold these daily distributed tokens and every 1st of the month I sell them Solana pairs perfectly with Koinly to make SOL tax easy! 🤝Sync Solana with Koinly to calculate your crypto taxes fast. In most instances, liquidity transactions are Learn how cryptocurrencies are taxed in your country. By Robin and 5 others 6 authors 43 articles. @koinly have successfully added my Rewards wallet (it is now easier to find the rewards wallet address with the latest Daedelus release 4. io/contact Never trust anyone at Reddit that sends you a private message and claims to be from Koinly support they are scammers The following article explains how to handle staking pools. December 20, 5:16pm #2. January 21, 2021, 1:16pm #4. Reward VS Deposit Advice how important is it to change all of the rewards from staking pools from deposit to reward? Some areas don't count staking rewards as income so they do give you the option to turn it off but still you can tag as I've been tagging them as rewards and decided to uncheck the box due to that case going through the court system. If it is tax relevant, how can i document this here? Thank you! RB82. investors can earn a proportional percentage Also wondering how you tag the lauchpads own token when staking it? Is it “sent to pool” for staking and “received from pool” with the token you receive as interested? Koinly Support. You can also securely share account access with your tax agent, accountant, or CPA. ETHBTC instead of ETH-BTC or ETH/BTC) it's impossible to automatically identify the pairs without knowing all the pairs traded on the exchange (e. The Gift tag can only be used when you yourself gift If you are mining/staking on an unsupported blockchain then you can either try to export a file with your transactions from whichever wallet you are using to monitor your income or you can create a custom csv file with your transactions. Block Reward definition: Crypto awarded to miners for successfully adding a new block to the blockchain, contributing to network security. This will zero out the purchase price and assume zero cost. You can also tag deposits as “mining” in Koinly manually. Receiving a gift from family/fried does not need to be tagged. She returned that 250 USDC Syncing the HBAR API and Koinly, My HBAR staking reward event "Reward" transaction appears and then a transaction tagged "Send" below or above it, this Send transaction is something to do with the cost to claim the reward, sometimes though these appear as Reward transaction and a "Deposit" transaction rather than as a Send, this Deposit transaction should be a cost Hi, I’ve history of transactions for different private sales where I’ve sent ETH and received recently created tokens and some of them also sends locked version of those tokens for short time to represent upcoming tokens. Voters. There are services that can automatically compound any rewards earned in a liquidity pool so you don’t have to do it manually. Feature requests (public) 1309. S. There are several “income” tags or labels, including Mining, Reward, Income, Loan Interest and Airdrop. Is this something that can or Hi, Bankless posted a good technical explanation on the protocol in their latest news letter, hope it helps you out:. It seems like a bit of a tax complication as it is pulled in on a continuous basis (difficult to understand cost basis) and I’m guessing should probably be taxed as income (at least in US). P + 2. In the case of ShibaSwap, users can stake their BONE tokens to earn rewards and participate in governance. Within the intricate domain of cryptocurrencies, staking refers to the process of holding a quantity of cryptocurrency in a Describe the problem: Often with airdrops you have to pay a fee to get the airdrop. Hi @abeeed. Koinly tags them as deposit but you have to retag them as income. CoinSpot with Koinly?Head over to our help center; If the pool is not supported by Koinly here is what I do. Für Buchhalter; Anmelden; Registrieren; #staking. Koinly is not liable for any loss caused, whether due to negligence or otherwise arising from the use of, or reliance on, the information provided directly or indirectly, by use However, if your data is missing this information, you can easily tag individual transactions in Koinly. ⚡ Connect in minutes! 🖱️ (How to tag staking transactions) Tax on staking rewards varies a little depending on your tax office - but generally speaking, most tax offices see staking rewards as additional SmileyCoin pairs perfectly with Koinly to make crypto tax easy! 🤝 Connect SmileyCoin to Koinly to quickly calculate your taxes. However, when it comes to handling and categorizing these transactions, Koinly can tag and categorize more transactions - like rewards - automatically and accurately. From here, you can choose to treat rewards as income or not based on your country’s The IRS hasn't issued clear guidance on staking rewards tax yet. Change Currency (if Koinly imported the wrong token) This is for Finland. Is there a way to tag each of these transactions to a specific defi project and then filter on that tag? Which exchange/wallet is this regarding? All of them How did you import data into this wallet? Sync’d with my metamask What have you tried to fix this so far The official subreddit for all things Koinly and crypto tax! Members Online • Least_Category8235 . In general, you'll report any income from Cardano staking rewards as part of your annual tax return. May 5, 2024, Staking: This is a process where users lock their crypto holdings in a smart contract to earn rewards. Alexander_Robinson. Seeing eth2 ethereum is the same asset, “ethereum” I would also expect there would Koinly should at least recognize that a staking tx is not a simple send by seeing the Program Owner = Stake Program. They made a system with a reward wallet because they wanted to remove a lot of small transactions in the blockchain. Dom’s way of solving this is correct but there is an easier way of doing this. Koinly also generates your free tax summary, where you can see your gains, losses, and income for the year. Whether you’re a new investor or a degen, Koinly supports all major blockchains, tokens, DeFi protocols, NFTs, and more. As an accountant, you can see all your crypto clients from one single dashboard, making it easy to track your clients' investments and help them optimise their tax opportunities, and provide much-needed crypto advice. Describe the problem: I have invested DOTs in the Venus app. Examples: All non-tagged deposits into my wallet from contract xxxxxxxxx should be automatically tagged as reward. C. For staking, you can use the Rewards label to tag any If the pair in the file is provided without a divider (e. For withdrawals, you can tag your DeFi transactions as cost, interest payment or sent to I don’t think Koinly can handle the scenario outlined below so I’m wondering what the best way to log this into Koinly would be. 1 Like. While CoinTracking has more Dear Koinly, Was wondering if you had any plans to support Ethereum 2? I am thinking about staking, so if my ethereum was sent to a deposit contract, and burnt, then recreated on eth2, I will be earning validator rewards, so would be good to track this income in Koinly. While both platforms offer transaction merging, Koinly's developers have worked hard to ensure that these transactions are handled correctly from a tax perspective for different The same works the other way round for incoming transactions from specific addresses, the user could choose to set them as ‘rewards’ or ‘airdrops’ or ‘income’. Please review your At Koinly Australia we keep a very close eye on the ATO's crypto asset guidance and regularly update this guide to keep you informed and tax-compliant. Therefore I need to import data from 9 different Solana Wallets. Staking rewards. Make crypto taxes simple with Koinly. Your business model is not compatible with small level staking as it generates more cost than income this way. Please include a feature which allows you to name a number of deposit/income/reward addresses so that when they appear in transactions they are clearly named and allow me to filter and sort a number for a single address or a number of addresses Not only that, but Koinly will calculate the fair market value of your Cardano staking rewards in your chosen fiat currency. Which exchange/wallet is this regarding? Would love to get some info Koinly on when/how to manually tag Liquidity In/Out too (as mentioned When disabling the setting 'treat rewards as income” nothing happens. io/ From here, Koinly will identify your different crypto transactions and apply the relevant taxes. if you also moved 1 BTC from your Ledger wallet into Trezor at about the same time as the Binance → Coinbase txn then Koinly might merge the Binance withdrawal with the deposit into Trezor by mistake. Regularly updated, free guides. While I already imported some of the wallets, Koinly is merging the data totally mixed with new imported data. 6. Fork. Popular topics. However, as this is a means of earning new tokens, it's likely this could be seen as income. Usually, the process of staking can be divided into three distinct steps: This transaction shows as a withdrawal in Koinly. GLP, which is composed primarily of ETH, wBTC, and stables, acts as the counterparty for traders on the DEX who borrow from the liquidity pool to Interest received ( rewards paid weekly) are considered income according to CRA. In other words, regardless of the terminology and whether your client is staking, liquidity mining or yield farming - you’ll need to consider how that specific protocol works and interpret the tax implications and whether Capital These nodes provide weekly rewards which I’ve assumed are classed as income based on the value of the rewards at the time of claiming. By Robin and 2 others 3 authors 18 articles. Now that you've got the hang of how Koinly calculates your crypto gains and losses for tax reporting purposes, let's check out how Koinly works with TaxAct: Prefer step-by-step instructions? Koinly will automatically tag it as "Liquidity In" and split the deposited LPx token among the withdrawn assets. April 5, 2022, 11:38am #1. June 4, 2022, 6:06am #12. Koinly is a PancakeSwap tax calculator & reporting tool. GMX Transaction You'll generally pay Income Tax on staking rewards upon receipt, as well as Capital Gains Tax on any profits if you later sell, swap, spend, or gift staking rewards. (also label this txn as Reward). Some areas don't count staking rewards as income so they do give you the option to turn it off but still you can tag as rewards Generally, the receipt tokens you’re receiving are worthless so you could delete these and then treat the remaining transactions as an ICO. In most instances, Koinly is pretty smart and will automatically recognize and tag All you need to do is tag your airdrop transactions and Koinly will calculate your cost basis and any subsequent capital gain from a sale. Selling: Profits from selling crypto for fiat currency. Just find the transaction in our platform and use the three dots on the right-hand side to tag as a fork. I put 100X and 200Y in LP and receive 50LPCoins I split the received ammount, and create two "Trade" transactions, first 100X => 25LPCoins, and second 200Y => 25LPCoins. ondategi. This process is crucial for the functioning and security of a Whether you've got liquidity mining tokens, staking rewards or you're using DeFi lending platforms HMRC wants to know about it. ForceConstant. Spending: Using cryptocurrency to The correct way to report your Cardano staking rewards depends on your tax office. A good idé, but it defiantly makes it harder to follow the tax laws But you can always tag these manually as rewards if not by finding the specific transaction in Koinly and selecting 'tag as reward'. Portfolio settings. You may also pay Capital Gains Tax if you later sell, trade, or spend your crypto mining rewards and make a gain. Once it's done this, Koinly generates your TaxAct Report, ready to import to TaxAct when you're filing. Your data should be labeled automatically, but if it isn’t you can tag your DeFi transactions as a loan interest, received from pool, or as a reward for deposits. Quote: Sending coins into a staking pool Koinly will not import such transactions for most blockchains like Zilliqa, Elrond etc since these are not taxable. As the LPCoin is not supported in Koinly you can use the NULL coins. Thanks @ConorIA and @koinly, but IMO, Koinly’s approach to rewards has two issues. For users in Advice and answers from the Koinly Team. you can tag it as a Swap by clicking the 3 dots at the end of the transaction Swaps Most countries treat trade as taxable events. However, if your data happens to be missing this information What are Tags. Income will give it a non-zero cost basis and eventually report on the aggregated number as income in I have imported the CSV file into Koinly and I noticed that all of the cashback is showing as rewards. eg i put 10bnb in a staking pool and got lets say 15 back. Koinly will identify your different crypto transactions and apply the relevant taxes. Bulk edit in Excel. This can be useful for migrations, rebases, wraps, and other events that might not be considered taxable events in your country. Mining. Aria_Koinly. A: Yes, You can find all of our user guides here: https://help. The official subreddit for all things Koinly and crypto tax! For support start here: https://support. T. Koinly auto-generates Form 8949 & Schedule D based on Koinly can be used as a crypto portfolio tracker as well as a crypto tax tool. Firstly, I have done some swaps, but if I tag those crytpo-to-crypto-trades as swaps, Koinly will stop treating the price evolution of the source currency as Staking rewards. One thing the video points out is an issue with Koinly assigning a zero cost base to certain LP tokens on Liquidity Out transactions resulting in Describe the problem: Like everyone else, I have hundreds, if not thousands, of micro transactions due to Defi projects. Any profit/loss you make from these Hi, you can use the new Sent to Pool and Received from Pool tags for this. Hi, Just wondering if anyone can shed some light on how we tag tokens launched through a launchpads such as Staking rewards - like dividends. Y + How to Connect HashPack Wallet and Koinly. This article lists all tags available for deposits, withdrawals and trades. gieyy mywpf kfmkeq foqhbfg dxpc hjmlq gdsc xfvaqt rsvl zac