The challenges crypto users face with regard to taxes in 2022 are multifaceted and may be complex depending on the situation and circumstances of a user. Koinly ranges among the most feature-rich cryptocurrency tax software. You can not only get accurate reports to file with the IRS (US) from this tool but also use multiple features to ensure you are not overpaying.
This crypto tax calculator shines in particular through its automated data import. Due to its integration with over numerous (350+) exchanges and wallets, it is unlikely for any transaction records to fall through the cracks. On top of that Koinly offers not only tools for top-notch error reconciliation but also expert review services for your tax report and any questions, users might have. With this Koinly reduces crypto tax reporting for most to a few minutes of work.
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Preparing the paperwork for your crypto taxes needn’t be a chore, with tax software like Koinly streamlining the process.
1. Import Your Data From The Cryptocurrency Exchange
2. Scan & Collect Your DeFi Data
3. Flag Inconsistencies And Reconcile
4. Generate The Complete Paperwork
— Koinly (@koinly) March 24, 2022
5. Keep Tabs On Your Portfolio
6. How Safe & Secure is Koinly Crypto Tax Software?
Koinly can be seen as safe and secure as it doesn’t even require any private keys to do its job. In addition, the software encrypts data in transit and doesn’t store any payment details. Overall, these practices make Koinly a safe and secure crypto tax calculator and reporting tool. You can read more about Koinly’s commitment to security here. Remember, to always do your own research (DYOR).
7. Does Koinly offer a free plan?
Yes, Koinly offers a free plan which supports up to 10,000 transactions. However, it won’t allow you to download your cryptocurrency tax reports for free – for that, you need to sign up for one of its paid plans.
Via this site: How Crypto Tax Software Can Simplify Your Taxes