after using koinly, I can say a version 2.0 is needed. it's amazing how wrong it is with classifying and calculating transactions. unless you have a relatively small number of transactions it's not feasible to check each transaction for accuracy. it won't help for last year's taxes, but going forward, do yourself a favor and track your crypto stuff on your own, in a spreadsheet. for me koinly is unusable.
2:17 he states you need to review transactions and take action on the transactions that were simply internal transactions between wallets, however, he doesn't stipulate what action to take? There is no tag to use for internal transactions, therefore my transaction from exchange to hardware wallet is showing as a loss, when in fact nothing has been lost as nothing has been sold. How do I correct this please?
This needs an update the filters are different and I don't understand the tags for these things. How do I tag a withdrawal as a withdrawal. It's showing a profit but it wasn't a sell just a transfer.
HI Can you help me please, hot come when i change from USDT which is what i bought when i funded the account, and then i buy BTC its showing that transaction as profit !! before i have even closed the trade back into USDT??
Hi Craig, It is possible the cost basis was wrong, making it appear you made a profit. Here is more information about this help.koinly.io/en/articles/4086761-trades-withdrawals-with-very-high-gains If you still have issues, you can talk with a technician via the intercom on the website or help.koinly.io/en/
I have got leverage Doge5L in gate io. I have imported data using api and looks like it is not supporting Doge5L as there is no price in transaction. As well as anything to do with reverse split or snapshot is not taking account. Can you please let me know whether we can do anything about it or not? Thanks
Liking this software and how easy it is to use, I don't consider myself tech heavy and I'm figuring it out pretty well. I have 2 questions. Since I have linked my wallets to Koinly will any transactions I make on linked exchanges and wallets update in real time? question 2. I have a crypto ROTH account do you recommend adding this to koinly or not? The IRA company will be doing the tax forms for that account but I thought it would be good to be able to see everything in one place. but I dont want to throw a wrench in the spokes. Does Koinly recognize ROTH accounts and not include them in the tax report. thanks
Hi Asian_NV_Life, to export a CSV with all your transactions, it’s called “Transaction history” and is available at the bottom of the list with tax reports. You'll need to purchase a plan in order to export your transaction history.
Have you bought any crypto using third parties like Banxa or Moonpay? It seems like these are not imported as transactions from Phemex, and may need to be added manually. Any tips for this?
A lot of transactions should be tagged correctly and automatically but you will need to double check your transactions and make sure everything is tagged approximately. Always double check your staking transactions and make sure they are tagged.
Having issues with terminology. Voyager has certain transactions as crypto received. Would that be tagged as an airdrop? This is my first year getting into Crypto. Any info would be appreciated.
That is up to you and what your transactions are on Binance. If you need further assistance, you can reach out to our support team so we can assist you: koinly.io/contact/
I also had trouble with the binanceUS API. Is seems that it doesn’t send deposit and withdrawals info through the API. I just added the deposits manually and it seems to have helped. I’m new to Koinly and it seems like a great product but they need to get these things figured out to ease the headache with crypto taxes. Adding my Robinhood transactions was a headache too, I had to input the transactions manually because the CSV wasn’t readable by Koinly for some reason. I hope they continue doing more UA-cam videos to help out there customers.
how to fix the asset = difference , I saw huge numbers from shitcoins that rug pull -____- makes me feel weak , how to fix it I just bought shitcoins in my trust wallet tru pancake, and I hold it I didn't sell or use anything , all the history in my trust transaction is same the one csv that I import.. but I don't know why there a huge number in asset=difference like 9-12 digits, I just buy $1-7 value of shitcoins ..please help
Hi Koinly, 5 transaction shows in my Koinly that are missing cost base . I tried it fix it but it’s confusing n headache. So my question is since it’s only 5 transaction if I delete that will it still shows in my Koinly tax report?
Why do you guys write a transaction as a profit/loss when I send it to someone as a payment to their own wallet address? This is wrong for taxes as that was used as a payment.
This is why we recommend validating the transactions. Sometimes API data may be missing, which leads to some transactions being mislabelled. Therefore, a quick run-through of your transactions, making sure they are correctly labelled, will result in an accurate tax report. Here is our guide on transactions and tags: help.koinly.io/en/collections/2687911-transactions-tags
after using koinly, I can say a version 2.0 is needed. it's amazing how wrong it is with classifying and calculating transactions. unless you have a relatively small number of transactions it's not feasible to check each transaction for accuracy. it won't help for last year's taxes, but going forward, do yourself a favor and track your crypto stuff on your own, in a spreadsheet. for me koinly is unusable.
I’ve made to many mistakes in crypto to know to find this video BEFORE finishing! Saved me over $1000! Thanks bro 😎
Boom!
2:17 he states you need to review transactions and take action on the transactions that were simply internal transactions between wallets, however, he doesn't stipulate what action to take? There is no tag to use for internal transactions, therefore my transaction from exchange to hardware wallet is showing as a loss, when in fact nothing has been lost as nothing has been sold. How do I correct this please?
This needs an update the filters are different and I don't understand the tags for these things. How do I tag a withdrawal as a withdrawal. It's showing a profit but it wasn't a sell just a transfer.
This was helpful
Thanks, glad you found it helpful.
HI Can you help me please, hot come when i change from USDT which is what i bought when i funded the account, and then i buy BTC its showing that transaction as profit !! before i have even closed the trade back into USDT??
Hi Craig,
It is possible the cost basis was wrong, making it appear you made a profit. Here is more information about this help.koinly.io/en/articles/4086761-trades-withdrawals-with-very-high-gains
If you still have issues, you can talk with a technician via the intercom on the website or help.koinly.io/en/
I have got leverage Doge5L in gate io. I have imported data using api and looks like it is not supporting Doge5L as there is no price in transaction. As well as anything to do with reverse split or snapshot is not taking account. Can you please let me know whether we can do anything about it or not? Thanks
Liking this software and how easy it is to use, I don't consider myself tech heavy and I'm figuring it out pretty well. I have 2 questions. Since I have linked my wallets to Koinly will any transactions I make on linked exchanges and wallets update in real time? question 2. I have a crypto ROTH account do you recommend adding this to koinly or not? The IRA company will be doing the tax forms for that account but I thought it would be good to be able to see everything in one place. but I dont want to throw a wrench in the spokes. Does Koinly recognize ROTH accounts and not include them in the tax report. thanks
Love Cramer in the background
What does airdrop and fork mean. Also if we send money from a crypto game to metamask, what would that fall under?
I transferred BTC from Coinbase to Trezor and it shows that I made a profit. Tired everything to fix that and it will not budge.
You probably want to check how the transactions are tagged. Here is a help guide on that: help.koinly.io/en/collections/2687911-transactions-tags
@@koinly thanks, I will check it out
Thanks, would this be the same as adding trust wallet and meta mask even though they use the same account kinda? Do I add them separately?
Thanks
Thanks. This helped.
so where do I start with reviewing transactions, there is no deposits and withdrawal label anymore?
How do I export all transactions, theres no information anywhere on this
Hi Asian_NV_Life, to export a CSV with all your transactions, it’s called “Transaction history” and is available at the bottom of the list with tax reports. You'll need to purchase a plan in order to export your transaction history.
Do I have to add coinbase mobile wallet?
Can I ask how you would tag a node gain, as in you buy node, lose capital but then get interest only if you cash it out?
Thanks
Hey Marlon, contact our support team for some assistance with this: koinly.io/contact/
Is there a way to add my Voyager account transactions to Koinly?
Have you bought any crypto using third parties like Banxa or Moonpay? It seems like these are not imported as transactions from Phemex, and may need to be added manually. Any tips for this?
Hey there, contact our support team for assistance: koinly.io/contact/
So I can pay Koinly to review my wallets and they'll tag all my transactions as rewards or sent to pool?
A lot of transactions should be tagged correctly and automatically but you will need to double check your transactions and make sure everything is tagged approximately. Always double check your staking transactions and make sure they are tagged.
Having issues with terminology. Voyager has certain transactions as crypto received. Would that be tagged as an airdrop? This is my first year getting into Crypto. Any info would be appreciated.
Hey Joel, contact our support team so we can help you out: koinly.io/contact/
If you lost your wallet and keys but you know what was mined dates and what your profits were can you add this manually to koinly?
Yes, you can create manual transactions
@@koinly please send me link to how I can do this please.
OK, so you recommend upload csv file Binance transactions rather then via API ?
That is up to you and what your transactions are on Binance. If you need further assistance, you can reach out to our support team so we can assist you: koinly.io/contact/
How do I get my data from btc-e any ideas cheers
Im trying to buy a plan. But the code is being sent to a phone number thats not mine so i cannot complete purchase. How do i update my phone number
bro, why in tha hell isnt binance api enough to get all right? it should.
I also had trouble with the binanceUS API. Is seems that it doesn’t send deposit and withdrawals info through the API. I just added the deposits manually and it seems to have helped. I’m new to Koinly and it seems like a great product but they need to get these things figured out to ease the headache with crypto taxes. Adding my Robinhood transactions was a headache too, I had to input the transactions manually because the CSV wasn’t readable by Koinly for some reason. I hope they continue doing more UA-cam videos to help out there customers.
Binance API is not great. Sadly, this is something that is not in our control.
Because binance is shit. Kucoin works properly.
how to fix the asset = difference , I saw huge numbers from shitcoins that rug pull -____- makes me feel weak , how to fix it
I just bought shitcoins in my trust wallet tru pancake, and I hold it I didn't sell or use anything , all the history in my trust transaction is same the one csv that I import.. but I don't know why there a huge number in asset=difference like 9-12 digits, I just buy $1-7 value of shitcoins ..please help
Hey there, please contact our support so we can sort this out: koinly.io/contact/
Hi Koinly, 5 transaction shows in my Koinly that are missing cost base . I tried it fix it but it’s confusing n headache. So my question is since it’s only 5 transaction if I delete that will it still shows in my Koinly tax report?
Hi there, contact our support so we can sort this out: koinly.io/contact/
i still don't why you need to add your wallets
Why do you guys write a transaction as a profit/loss when I send it to someone as a payment to their own wallet address? This is wrong for taxes as that was used as a payment.
This is why we recommend validating the transactions. Sometimes API data may be missing, which leads to some transactions being mislabelled. Therefore, a quick run-through of your transactions, making sure they are correctly labelled, will result in an accurate tax report. Here is our guide on transactions and tags: help.koinly.io/en/collections/2687911-transactions-tags
hey man,does koinly generates 8949 from or do i have to fille it base on my transactions?
Koinly will generate a filled out 8948 form
Can I get csv from binance, gate, kucoin, metamask etc using Android phone?
2499$ for an expert? Is that a joke or do I need glasses?