Just testing at the moment....Koinly has frozen on me and created new account, but it is not showing amounts in new account. Witing on koinly to respond.....still waiting.
I've been using koinly and I agree with everything you said. I think it's still a great software and saves a lot of time when it comes do doing your crypto taxes
Hi Ethan, i did my tax last year with koinly (took me 20 hours to correct everything that was 'wrong' (i have lots of wallets, staking, you name it, like > 2000 txns). This year, i run into such problems with purchase history missing etc. i just dont know what to do. If you are good with koinly: would the best way to fix a particular wallet be to delete it and start again (but al the data from previous year will then be wiped as well?/) or try to keep fixing it, one by one?
I had the same experience like you Ethan - support didn't respond to emails. It may have potential left it and signed in with cointracking By the way the video quality is absolutely amazing 👏
Cool vid. What I've never understood is why the tax auto fill is so poor. Shares are hit and miss. And Crypto will never make it lol. It's almost like they are trying to catch you out above providing the data ("we know the gains/loss so don't make a mistake!!"). My rant..such a bonkers system
It has come a long way over the past few years. At the end of the day it's meant to be on the taxpayer to calculate their income. The ATO definitely want to keep improving the pre fill as it reduces risk that things aren't included correctly.
Hello Ethan...I am a trader and staker. I have literally hudreds of trades, perhaps 1,000 or more. Koinly sounds not so good I guess from the comments. What is the Australian Based software and how do you rate it compared to Koinly. Great Video by the way. Just recently I need to sort out this tax issue. I need a decent and efficient Tax software. I will await your reply before jumping in to something I regret. Cheers mate.
I have a video on my channel about it, it is called Crypto Tax Calculator. I think both softwares are on a similar level to be honest. If you have all of the data to feed in, they work. If you are missing data or the exchange APIs aren't good, that's when you hit problems.
@@EthanRooshock maybe I'm using it wrong but it has miss entered dozens of transactions from every intl. Exchange, using both API and CSV. Cointracking is stuck in some update base cost mode.
@@EthanRooshock Hi. Can you recommend any accountants in Sydney that use koinly to do taxes for people. I'd rather go to an accountant and him/her do it with the software, instead of myself, seeing they would easily fix any bugs.
@@lcmr123 No I don't know sorry. I'm based in SA and an accountant myself, so I don't really keep track of other accountants over there. I will say you will probably struggle to find many people who will go through it with you in person and be aware it will likely cost you quite a large amount if it's a mess. It's definitely not an easy fix.
What Crypto Tax Software do you use?
Just testing at the moment....Koinly has frozen on me and created new account, but it is not showing amounts in new account. Witing on koinly to respond.....still waiting.
@@lcmr123 That's very frustrating! Hopefully support gets back to you soon!
@@EthanRooshock yeah still waiting :)
May I suggest setting the camera a bit lower? Feels like with some of the cuts you are teleporting.
Yeah I realised that when I went to edit! Thanks for the feedback!
I've been using koinly and I agree with everything you said. I think it's still a great software and saves a lot of time when it comes do doing your crypto taxes
Yeah I think it definitely is a good software!
Hi Ethan, i did my tax last year with koinly (took me 20 hours to correct everything that was 'wrong' (i have lots of wallets, staking, you name it, like > 2000 txns). This year, i run into such problems with purchase history missing etc. i just dont know what to do. If you are good with koinly: would the best way to fix a particular wallet be to delete it and start again (but al the data from previous year will then be wiped as well?/) or try to keep fixing it, one by one?
You'd be best to get advice from Koinly on what they suggest in that situation.
For us Aussies do you suggest Crypto tax calculator then?
Yeah it's the main one I suggest at the moment.
I had the same experience like you Ethan - support didn't respond to emails. It may have potential left it and signed in with cointracking
By the way the video quality is absolutely amazing 👏
Yeah it's frustrating!
Thanks!
Cool vid. What I've never understood is why the tax auto fill is so poor. Shares are hit and miss. And Crypto will never make it lol. It's almost like they are trying to catch you out above providing the data ("we know the gains/loss so don't make a mistake!!"). My rant..such a bonkers system
It has come a long way over the past few years. At the end of the day it's meant to be on the taxpayer to calculate their income. The ATO definitely want to keep improving the pre fill as it reduces risk that things aren't included correctly.
Hi Ethan just want to ask, can I just download the csv file from my staking wallet and just give that to an account and do this for me?
Is this safe?
I'm not sure exactly what you're asking sorry.
Hello Ethan...I am a trader and staker. I have literally hudreds of trades, perhaps 1,000 or more. Koinly sounds not so good I guess from the comments. What is the Australian Based software and how do you rate it compared to Koinly. Great Video by the way. Just recently I need to sort out this tax issue. I need a decent and efficient Tax software. I will await your reply before jumping in to something I regret. Cheers mate.
I have a video on my channel about it, it is called Crypto Tax Calculator. I think both softwares are on a similar level to be honest. If you have all of the data to feed in, they work. If you are missing data or the exchange APIs aren't good, that's when you hit problems.
@@EthanRooshock Cheers mate. Just watching your other videos and sharing them with my followers and accountant.
@@surfy009 Thanks, appreciate that!
Koinly is terrible!
That's a shame you feel that way. It definitely isn't perfect but I still think it's a very solid software!
@@EthanRooshock maybe I'm using it wrong but it has miss entered dozens of transactions from every intl. Exchange, using both API and CSV. Cointracking is stuck in some update base cost mode.
@@unitedpawnbrokers1180 Yeah it can be a bit of a pain to get right. A lot of it comes down to the exchanges API and CSV files not being that great.
@@EthanRooshock Hi. Can you recommend any accountants in Sydney that use koinly to do taxes for people. I'd rather go to an accountant and him/her do it with the software, instead of myself, seeing they would easily fix any bugs.
@@lcmr123 No I don't know sorry. I'm based in SA and an accountant myself, so I don't really keep track of other accountants over there. I will say you will probably struggle to find many people who will go through it with you in person and be aware it will likely cost you quite a large amount if it's a mess. It's definitely not an easy fix.