Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
Biodom
on 18/03/2024, 04:05:56 UTC
⭐ Merited by DirtyKeyboard (1)
What tools do you guys use for figuring out your tax obligations?

edit: for your bitcoin transactions I mean
USA IRS?  In the past I've used Koinly exporting to HRBlock Deluxe.
I think Koinly is great for just tracking, or double checking your numbers.  You can set up the full account, just without downloading tax form privilages, for free.   Connect your wallets. or upload transaction pdfs, or manually input cost basis.  It will show your profits, balances, taxes due, just not export it.
Code:
https://koinly.io/
 
https://koinly.io/


Koinly treats not-merged txns (from exchange to your own wallet) as profit, lol.
It requires, basically, to check each and every txn and see that it is "merged".
https://support.koinly.io/hc/en-us/articles/9917573707676-How-Koinly-handles-transfers-between-your-own-wallets

Imho, if you only have a dozen or less txn/year, then no need for koinly shmoily.
If hundreds, then maybe OK, providing that you have time to "merge" the misbehaving txns.