Show a list of purchase lots with their cost-basis (to allow user to predict / plan before selling)
planned
T
Thistle Otter
Allow user to view a list of purchase lots to be utilized (in relevant order) if user were to sell coins from that specific wallet. This will allow user to predict the cost basis to be utilized for transactions and this way optimize which wallet to sell from and how much.
As more advanced feature: Allow user to see what would be tax impact of certain transaction from certain wallet
For Koinly these type of features would be step in direction towards tax optimization software (actual guiding crypto decision) rather than pure tax reporting software. If I were Koinly I would go towards this direction.
T
Tangerine yellow Halibut
It is absolutely maddening that the per-lot cost basis and acquisition date data is not available anywhere in Koinly's interface (let alone as an export, which is also desirable). It is data that they surely have, since it's fundamentally necessary for them to be able to provide the service.
It is based on our data which we have provided to Koinly, thus it is OUR DATA. Their failure to provide it makes it exceedingly difficult, circuitous, and error-prone to attempt to predict tax consequences of various transactions, and it makes it IMPOSSIBLE to check their calculations. Moreover, what if I have a complex year where I want to hire a CPA? I can't provide them with the data. I'm locked into this platform forever, without the ability to inspect or verify their work. DESPICABLE.
Koinly, you provide a valuable service. Have some faith in your products, and do the right thing: allow your users to access the data that rightfully belongs to them!!
T
Tangerine yellow Halibut
Additionally, regarding the US safe harbor for the required migration to per-wallet tracking, per Rev Proc 2024-28, 4.02:
"(4) The taxpayer must be able to identify and maintain records sufficient to show the total number of remaining digital asset units in each of the wallets or accounts held by the taxpayer.
"(5) The taxpayer must be able to identify and maintain records sufficient to show the number of units of unused basis, the original cost basis of each such unit of unused basis, and the acquisition date of the digital asset unit to which the unused basis was originally attached."
Notice how both of those say "the
taxpayer
must be able to identify ___"? Not "Koinly (or other document preparer) must be able to identify..." That's US.Additionally, section 5 identifies the above-described cost basis allocation info as part of the "snapshot", which we (taxpayers, your users) must maintain in
our
records.Koinly: are you going to provide us with sufficiently detailed records (i.e. per-lot cost basis) to enable us to comply with these (admittedly onerous) legal requirements? Without causing us to delay filing our taxes?
T
Tangerine yellow Halibut
I've been wanting this for years. The lack of visibility into lots and cost basis is very frustrating.
D
Dandelion Harrier
Yes this would be very useful
Jack
Merged in a post:
Current Holdings by Tax Lot Report
S
Sepia Lion
On other tax softwares, you can generate a report of your current holdings split up by tax lot. This allows traders (and their tax planners) to make more informed decisions and strategize sales.
Instead of just seeing the average cost basis for each coin held, I want to be able to see the detailed tax lots that make up the balance in order to strategically sell certain lots. This should have a report option (not just be in the UI) so offline analysis can be done in excel sheets or other tools.
Jack
Merged in a post:
Create a csv file containing all the lots remaining at the end of fiscal year
V
Valuable Raven
Create such file for each wallet. These files can then be imported for next-year taxes, allowing API sync for latest tax year only. This will be the equivalent of importing last year taxes to a standard tax software
E
Elated Panda
This is one of the most needed features as we heads towrd the end of the bull run.
L
Lavender Jay
x2. I can't stress how important this info is and there currently isn't any way to generate such a report. Koinly already has this info so hopefully the ability to output the data to a report wouldn't be a huge undertaking.
P
Petur
planned
This is planned as a Version2 of our new Tax Optimization dashboard!
The ETA is Q3 or Q4 this year
T
Tired Goldfish
Petur nice
Z
Zaffre Wren
Petur came here for this! Glad to hear it! How's it going? How much of XXX asset can I sell at a loss!? or minimal gain. Need to knowwwwww
S
Serious Sparrow
This would be an incredibly helpful feature
K
Kumquat Basilisk
Merged in a post:
Show quantity of tokens at a loss
Z
Zaffre Wren
My positions are made up of many lots, however I only want to sell the lots which are currently at a loss. I know my overall cost basis, but how many coins should I sell to avoid triggering a CG event?
Example:
- Bought 1 ETH at $500
- Bought 2 ETH at $1,000
If the current ETH price is $750, it would show that 2 ETH can be sold at a loss without triggering a CG event.
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