Introduction
If you hold cryptocurrency, you know it’s a bit of a hassle to get your crypto tax report ready. Just to figure out how much crypto you’ve earned or lost in a year, you need to aggregate data from multiple exchanges and wallets while ensuring each transaction has been recorded properly. This can take hours or even days – and that’s just the start of the process! Luckily, Koinly is here to save you time with automated tax reports that make it easy for cryptocurrency holders to file their crypto taxes in minutes. Here are a few ways to simplify the process:
Koinly makes it easy to file your crypto taxes.
Koinly is a crypto tax filing platform and a crypto tax reporting tool that allows you to complete IRS Form 1040, Schedule D, Form 8949, and Form 8949S.
All you need is a login and an email address. After that, all of the work is done for you by our software. It automatically imports information from your exchanges and generates reports based on that data so you don’t have to manually enter anything yourself! And if there’s ever any discrepancy between what they say they owe and what they really owe (which has happened before), Koinly will alert them right away so they can fix it ASAP before anything happens down the line with their finances or credit score!
What exchanges, wallets and blockchains do they support?
Koinly supports all major exchanges, wallets and blockchains.
- Koinly works with any exchange that has an API.
- And support all the currencies and tokens listed on the above exchanges.
Import data from API or CSV
The best way to import your crypto tax reports is by using an API or CSV file. The CSV file is the most widely used format for importing financial data, making it easy to import from one of your trading platforms. If you don’t have access to your data through an API or CSV, you can always use our manual entry option as well.
Importing via API/CSV allows you to import data from multiple exchanges, wallets and blockchains at once. This also lets you specify which exchange(s) or wallet(s) should be used when importing trades and transactions into CoinTracking. There are two ways in which this can be done:
- You can upload a spreadsheet containing all of your trades & transfers in one go by using our bulk upload feature (the columns must be separated by tabs). This is particularly useful if you’re combining multiple spreadsheets into one large file with all of its trades listed on separate rows (example).
- Or enter each trade individually with more control over how they’re imported (example).
Tax reports with the click of a button
Tax reports are easy to read, easy to print and save, and take less than 20 minutes to complete. With the click of a button, you can get a tax report with all your transactions from 300+ exchanges & wallets.
Works on desktop and mobile
Koinly’s service works on desktop and mobile, so you can access the system easily no matter where you are. Koinly is a secure service; all your data is encrypted and stored in our server, which is only accessible by you. And finally, it’s convenient: with Koinly, it takes just 20 minutes to generate a crypto tax report for free!
Conclusion
If you hold crypto, Koinly calculates your cryptocurrency taxes report ready in a few minutes and helps you reduce them for next year. Simple & Reliable.
Sign up and get $20 off.
