Tax loss harvesting
complete
Alex_Koinly
Requesting feature to assist with tax loss harvesting:
A
Amaranth Kangaroo
Najs
P
Petur
complete
Tax Loss Harvesting has now been rolled out in most countries. You can see our article here to read more about it: https://koinly3886.zendesk.com/hc/en-us/articles/11938146178332
This dashboard is only the beginning though! It will later be expanded to allow for much greater insight and simulations, and we will also be adding different dashboards for tax analysis and planning :)
M
Missing Louse
Petur: amazing!!! thank you!!!!
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Rose Pheasant
Petur: thank you koinly! Another HUGE win for Koinly and users!!!!!!!!!!
R
Red Leopon
Allow partial sell in your new "Tax Optimization" section
J
Jasper Cheetah
Vi prego , sono tropii mesii e finché non l'osso come si fa credo che Koinly e molto buono,il mio sembra che stia fermo
P
Petur
in progress
Koinly has now released the first version of our Tax Optimization dashboard. This dashboard can be used to identify harvesting opportunities :)
NOTE: The dashboard is currently only available in the USA for FIFO users. It will be rolled out across different countries and methods at a later time.
Read more about the new feature here:
C
Coral Spoonbill
Petur: THIS IS HUGE TO US USERS, THANK YOU PETUR!!
E
Eerie Lobster
Petur: thank you!!!!!!!
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Salmon Earwig
Petur: THIS IS AWESOME!!
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Orange Whitefish
Petur: thank you 🙏
A
Amaranth Octopus
Petur: AMAZING! Now, Koinly just needs to finish implementing the announced accounting method switch so I can get back to FIFO for the 2023 tax year...
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Preferred Boa
Upvote here. This is the single most important tax management tool in my opinion
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Shrill Peafowl
Yeah definitely vote up here. It's very time consuming to do fake trades on multiple assets on multiple wallets. I would like to see a chart for cost basis of each asset in each wallet so I could easily get an idea of where the ideal trades are whenever I decide to sell (I would have same assets in multiple wallets with wildly different cost basis).
And perhaps a faster and safer way to add test trade would be nice too for verification before the real deal. (Safer in that currently I might forget my fake trades into the system)
:pray:
W
Wide Boa
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.
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Peach Eel
Already available
C
Charming Orangutan
Peach Eel: please detail the claim that we have it as a feature
P
Peach Eel
Charming Orangutan: https://koinly.io/blog/crypto-tax-loss-harvesting/
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
P
Peach Eel
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