207
Tax loss harvesting
Alex_Koinly
Requesting feature to assist with tax loss harvesting:
c
cryptocoe
It would be great to be able to see the different cost basis for each coin and be able to determine the tax loss based on the cost basis method chosen. If I buy a bunch of tokens over the years at different prices then the cost basis shown on the dashboard is averaged. If I don't want to sell 100% of them, it would be nice to quickly calculate the tax loss to sell X amount for different cost basis methods available.
S
Scott Noroozi
Already available
Roland
Scott Noroozi: please detail the claim that we have it as a feature
S
Scott Noroozi
You need to check if your country allows it first of all. Secondly you need to decide which accounting method will help you most. 3. It's not magic, you save now you pay later. But you can smooth out the tax hit if you play it right.
No such button exists, it's an accounting trick and koinly already tracks it for you. But you have to learn what it is first, so read the article.
I don't work for koinly. But I'm available for the right price Petur
T
Tyler Barth
Other crypto-tax software provides specific reports, and helps you understand how much you need to sell to realize the loss. To do the equivalent with Koinly, I had to create a bunch of fake manual transactions and look at the tax results, then delete them.
J
Jared Kluver
This is already shown on your dashboard. It shows your cost basis (colst column), the current value (market value column), and the percent up or down. When it is down is the time to harvest (sell/rebuy) as desired.