THIS BLOG INCLUDE:
- 1 About Koinly
- 2 Features of Koinly review
- 3 For which countries the Koinly calculate the tax:
- 4 Price Plans of Koinly Review
- 5 Conclusion
Koinly is a software platform for a cryptocurrency tax that allows users to quickly calculate the tax, which is debt from your tax report and saves money. The Koinly review is founded in the year 2018 by Robin Singh. This online platform allows access to the activities and any complaints regarding tax reports. Koinly platform offers to combine their wallets and keep tracking the activities like trading, mining, staking, airdrops, etc., which simplify the recording process of input as well as output.
This software can also be used for directly importing the transaction & access the market prices and wallet transfer, calculating the crypto assets, and creating the tax reports. The Koinly is available in 20 countries, combines over 6,000 blockchains, exchanges up to 350 and wallets over 75 and provides the tax reports service. The paid plans of the Koinly platform can be used free from $49 to $279 per tax year.
Features of Koinly review
The Koinly software platform is available in 20 countries in Europe, Asia, Oceania, and the Americas. This platform allows users to create localized form 8949 with schedule D, K4, Rf1159, and sheet 9A tax reports.
Extensive Service Integration
Koinly platform combines over 6,000 blockchains and supports direct import for Bitcoin, Ethereum, Litecoin, and NEO. And also, the Koinly platform is integrated with over 350 exchanges like Binance, Coinbase, Kraken, and Portfolio apps such as Blockfolio and Delta. This software allows users to have 75 wallets and keep tracking the mining, staking and different Decentralized Finance activities.
Easy Data Import
Koinly platform allows users to connect with API and import key data. The file can be imported and supported to pub/YPub/zPub imports. And also data migrations from Nexo, BlockFi and CoinTracking.
Free Account Option
In this platform, to create transactions over 10,000, it can be used for free and generate capital gains tax previews. This free account can also be used for tracking crypto traders and other activities.
The handy list of resources offered by the Koinly platform like CryptoTax Calculator, Regional Tax Guides, and a Tax Accountant List.
To clear the doubts or queries of the customer, the software has a support section and FAQ page. They also reach out to customers’ doubts through email and live chat also. And the account can be run through the Facebook page and Twitter account.
For which countries the Koinly calculate the tax:
The Koinly software supports tax tracking and reporting to most countries. The countries are as follows:
- In America, supports to USA, Canada
- In Europe, supports to UK, Germany, Sweden, Denmark, Norway, Malta, Austria, France, Spain, Italy
- In Asia, supports Japan, South Korea, Singapore
- In Oceania, supports Australia, New Zealand
The Kindly platform team suggests a much more comprehensive range of countries in the field of accountancy. The country follows the methods are:
- First In First (FIFO)
- Last In First Out (LIFO)
- Highest Cost
- Average Cost Basis
- Shared Pool
There are types of tax reports are as follows:
- Complete Tax Reports
- Transaction Reports
- Capital Gains Reports
- Income Report
- Gifts, Donations & Lost Asset Reports
- Expense Reports
- End of Year Holdings Reports
- Turbotax Reports
Price Plans of Koinly Review
The Koinly platform has a free plan for those who use this software widely and allows anyone can track their transactions, wallet account, exchange and get capital gains tax preview. Also, this platform offers to handle the FIFO and LIFO tax reports & import the data in the more extensive range.
Holder Account costs $49
The Holder Account Costs $49 per tax year; this price plan allows users to create the international tax reports, Form 8949 and Schedule D reports, and FIFO & LIFO tax reports. And also export the data like TurboTax and TaxACT.
Trader Account costs $99
The Trader Account Costs $99 per tax year while getting this price plan can gain entry to priority support. They provide approaches to the same range of features and increase the transaction limit to 1000.
Oracle Account costs $179
The Oracle Account costs $179 per tax year for 3000 transactions and $279 for 10,000 transactions. This price plan provides all approaches to the same features in the Koinly software platform. And also, they involve custom reports and priority support. This price plan gains extra compensation from the team members who will perform a large number of actions and files of custom with manual charges.
To conclude with the Koinly review, for those who want to keep tracking the crypto activities, Koinly is applicable and also usable. This Koinly review platform is easy to use and quickly links up the exchange accounts and wallets. This platform is viable for making the tax reports of different countries. May this above information about the Koinly Review helps to clear all doubts.
1) How to use Koinly review?
- Firstly complete the setup and head over to the website of Coinbase Pro-
- First click on the profile icon
- Then select the API
- And then select the New API key
- To the key, give the nickname
- Then choose what data koinly has to approach
- Then copy the passphrase and paste it into the API pass field
- After that, leave the IP allowlist blank
- Then enter the 2fa code
- Then copy the API secret and paste it into the koinly
- After this, copy the API key and paste it into the koinly
- At last, click on the Import button
Can we trust Koinly?
The Koinly review is the best crypto tax software platform. Because this platform is decentralized finance supported and allows NFT transactions manually. To track the international support, Koinly is best for the US as well as International crypto investors.
For taxes, is Koinly good?
For the international tax reports, it is the best option because this platform supports over 100 countries. And available in many different countries.
Is there a subscription to Koinly?
Yes, there is a subscription—their never-ending free trial. Only to have your tax reports, there should need to purchase the plan.