Toggle to treat Gift as taxable/non-taxable
M
Marginal Peacock
Consider Canada. Consider donation/gift tag. In Canada, gifts of crypto are dispositions. Your program says they are not dispositions. Therefore tagging with the correct tag products an incorrect tax report. When I pay for a tax form report I expect proper tax forms for that country. Why can you not match tags to proper treatment in the tax reports section for the country purchased?
Jack
In Koinly, tags are simple ways of modifying the tax treatment of a transaction - we do not hard-code how they work depending on the country, esp. that tax treatment is often grey area in many jurisdictions. We do not hard-code any rules for any country.
So, in Koinly, "Gift" is a way of marking a particular disposal as non taxable. If gifts in your country should calculate gains, then don't use this tag and leave it as a "normal" withdrawal.
I understand that what you in fact would want is to be able to modify how this tag works, similarly to how you can modify the behavior of "Airdrop" or "Fork" tags.
Since this is a feature request, I modified the title and category of this post to match it.
M
Marginal Peacock
Jack my concern is that you represent to charge money to produce tax forms on a country by country basis yet do not translate the tags into proper tax treatment. you are selling tax forms on a country basis. the tags should match that and it is an easy fix..just make a gift tag taxable if the country of the tax form is a specific country and non taxable if it is not..the tag needs to correspond to the tax forms purchased otherwise the forms are not tax compliant and why would someone pay for tax forms vs just a spreadsheet if they wanted non compliant tax treatment of transactions?