Report: Spanish Capital Gains Summary - loans and loan repayments added to totals
Jack
When I generate my Spanish Capital Gains Summary report, the loans taken and repaid in crypto (transactions tagged as "Loan" and "Loan repayment") are added to totals of each currency, but not included in the breakdown, making it look implausible.
I would like Koinly to either exclude them completely or add a separate section for crypto loans, so that the data adds up
G
Ginger Squid
According to this KPMG report, repayment of a crypto loan does not itself trigger a taxable event:
https://kpmg.com/kpmg-us/content/dam/kpmg/pdf/2022/crypto-loans-taxable-jotfp-v17-21.pdf
Based on this, I assume that borrowing and repayment should not trigger tax event in the US jurisdiction also.
It would be very handy to have a setting in Koinly that allow to adjust how loan repayments are handled.
W
Wet Magpie
Totally. Loan repayments do not generate a taxable event in Spain (I really don't know where it will generate them). They cannot be considered a sale, since no transaction is made between different tokens with different contracts. It really is nonsense. Please give an alternative. It can't be that all they suggest to me is that I add the label lost instead of loan repay so as not to generate a taxable event.
W
Written Hamster
Fix this please!!!