Get Instant IRS-Compliant Crypto Tax Reports With Koinly Multi-Wallet Software

Are you keeping on top of your crypto taxes? Make the end of the financial year a less stressful affair by using Koinly from The Crypto Merchant!

The store can connect you with Koinly's innovative tax software for DeFi currency traders, investors, and accountants. The platform offers you a fast and reliable way to calculate crypto taxes with IRS-compliant reports generated within minutes.

Tax doesn't have to be taxing. Get Koinly from The Crypto Merchant today! More details at https://koinly.io/?via=49642CB0&utm_source=affiliate

Koinly boasts an extensive range of features and the software seamlessly integrates multiple wallets and exchange accounts, offering you compatibility with existing tax filing software like TurboTax, TaxACT, or Xero. The Crypto Merchant's Koinly packages join its comprehensive collection of crypto storage tools and robust recovery plates for hackproof offline storage of your private keys and seed phrases.

According to The Motley Fool, the IRS classifies cryptocurrency as property. As a result, any transactions are taxable if holders decide to sell their digital assets. The decentralized nature of crypto trading has made it challenging for the IRS to monitor earnings. To that end, new regulations compel investors to answer additional questions on Form 1040 and exchanges to file a 1099-K for clients with more than 200 transactions and $20,000 in trades within a financial year.

Koinly enables you to keep on top of your taxable transactions throughout the year, saving the stress and difficulty in tracking earnings when your returns are due to be filed. The platform utilizes cutting-edge AI technology to detect transfers between your wallets as well as track original costs.

The tax reports generated by Koinly consolidate the large amounts of data that accompany crypto trades into the essential information that the tax authorities need to see. The software creates simplified summaries of your income including margin trades, options, and futures. Koinly also makes it easy to view your disposals, total proceeds, and asset acquisition costs.

You can also generate statements showing income from airdrops, forks, and staking rewards as well as reports on gifts, donations, thefts, and losses. The Crypto Merchant's renowned customer service team offers you expertise and guidance in setting up and managing the Koinly software.

A Koinly spokesperson says, “With Koinly you can import your ETH, BTC, Tezos, and other transactions directly from the ledger, sync all your exchange trading history with one click and get a ready-to-file tax report - all in a matter of minutes.”

For more info, go to https://koinly.io/?via=49642CB0&utm_source=affiliate

Keep track of all your crypto taxes the easy way with Koinly from The Crypto Merchant!

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Created on Dec 2nd 2022 00:10. Viewed 144 times.

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