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Koinly
With Koinly, you can simplify the process of calculating taxes related to cryptocurrencies by offering a comprehensive solution for accountants and individuals to generate accurate tax reports in a matter of minutes.
Koinly is instrumental in ensuring compliance with local tax laws by helping users avoid legal problems.
With features like easy transaction import, portfolio tracking, and automatic profit and loss calculation, Koinly makes the cryptocurrency tax filing process more efficient and reliable.
Benefits of Koinly include:
• Easy import of transactions.
• Support for over 300 cryptocurrency exchanges.
• Automatic calculation of profits and losses.
• Tax reporting compatible with local laws.
• Integration with TurboTax and TaxAct.
• Portfolio tracking.
• Intelligent detection of transfers between wallets.
• Intuitive and easy-to-use interface.
Some testimonials from satisfied customers with Koinly:
“A friend (also in the US) recommended Koinly to me after facing difficulties with other platforms. The report formatted for TurboTax was imported instantly. I recommend it!” – Kody G., USA.
“It was easy to sync my accounts, the tax report was in a good format and approved by the BZSt (German tax authority). Great support.” – Ella Jackson, Colorado.
“The support team is very helpful, they helped me import my transactions from Bibox and guided me through the entire process. I also invited some friends to use Koinly.” – Andreas Küchler, Germany.
FAQ - Koinly Frequently Asked Questions
Why is Koinly important for accountants and individuals?
Koinly simplifies cryptocurrency tax calculation by generating accurate tax reports and ensuring compliance with local laws.
What benefits does Koinly offer?
Easy transaction import, support for multiple exchanges and wallets, automatic profit and loss calculation, compatible tax reporting, and integration with TurboTax and TaxAct.
Is Koinly suitable for first-time users?
Yes! Koinly’s intuitive and easy-to-use interface makes the cryptocurrency tax filing process accessible to everyone.
Is it possible to use Koinly with current tax software?
Yes! Koinly is compatible with popular software such as TurboTax and TaxAct to make it easy to import generated tax reports.
Does Koinly track transfers between its own wallets?
Yes! Koinly uses smart detection to track transfers between proprietary wallets and keep track of the original cost.
Is it possible to avoid paying taxes on Bitcoin trades?
It is difficult to avoid taxes on cryptocurrencies as tax agencies track transfers made on exchanges. It is important to comply with tax laws.
Is it necessary to pay taxes when transferring cryptocurrencies between wallets?
There are no taxes to pay on transfers between your own wallets, as long as you keep records of the original cost of transferred coins.
How does Koinly help reduce taxes on cryptocurrencies?
By providing accurate reporting, Koinly allows you to declare losses to reduce taxes on cryptocurrencies in the future.
