Get IRS-Approved Automated Tax Reports For Digital Assets With Koinly Software

by PRC Agency PR

If calculating taxes for your cryptocurrency trading profits is proving to be a massive headache, you need Koinly in your life! Sign up for this amazing AI-powered software via The Crypto Merchant today!

The platform provides you with a convenient and efficient way to remain compliant with IRS regulations. Koinly is designed to help crypto traders and investors like you stay abreast of your tax calculations and contributions with advanced automated software.

Keep track of all your blockchain business the easy way with Koinly from The Crypto Merchant! More details at https://koinly.io/?via=49642CB0&utm_source=affiliate

The store is committed to supporting digital currency enthusiasts at every stage of the trading and accounting process. The Koinly software offering is part of The Crypto Merchant's extensive collection of essential accessories such as hardware wallets, recovery plates, and robust cases.

Tax on cryptocurrency is only payable when assets are sold. According to Coinbase, this is known as 'realizing the gains' as opposed to simply holding tokens or coins. The Koinly website states that US traders are liable for up to 37% in tax on short-term capital gains and crypto income and up to 20% on long-term capital gains.

Koinly harnesses state-of-the-art AI technology to automatically track your transfers and wallet activity. Cryptocurrency trading creates a huge amount of data, only a fraction of which needs to be seen and verified by the IRS. By tracking and recording transactions as they happen, you can avoid the time-consuming process of trawling through financial records when your returns are due to be filed.

The platform simplifies the administrative aspects of trading in margins, options, and futures while offering a simple way to track asset acquisition costs, total proceeds, and disposals. Income statements relating to airdrops, forks, and staking rewards are accessible with just a couple of clicks. You can also easily access other reports detailing donations, gifts, thefts, and losses.

The Crypto Merchant prides itself on the highest levels of customer care with the team always available to help you get your wallet set up or software solutions implemented. The experienced agents can offer you guidance on all aspects of the Koinly software.

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

For more info, go to https://www.thecryptomerchant.com

Don’t get tripped up by taxes! Keep your crypto trade-tracking in order with Koinly from The Crypto Merchant.

The Crypto Merchant 609 South Ridgewood Avenue, Daytona Beach, FL 32114, United States Website https://www.thecryptomerchant.com/ Phone +1-386-222-2954

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Created on Feb 9th 2023 02:41. Viewed 114 times.

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