Crypto Tax | Koinly Crypto | How To Use Koinly

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Welcome to our Crypto Tax Video!

Crypto tax software that consolidates your accounts and generates tax docs.
Koinly is web-based crypto tax software that tracks your portfolio and calculates your tax liabilities. And when you need it, Koinly can generate IRS tax forms that you can download or export to other tax software. But you can’t automatically sync and track NFTs.

Koinly is best for traders looking to streamline their crypto tax reporting. By syncing and importing your data into Koinly, you can see how much you’ve invested in crypto, get a summary of your crypto income and view your realized and unrealized capital gains.

What sets Koinly apart is the ability to test drive the software before paying. You can link all of your exchange and wallet accounts and preview your capital gains for free. But you must pay if you want to download a comprehensive tax report and generate IRS tax forms. And it gets pricey, depending on how many transactions you have.

What exchanges does Koinly support?
Koinly supports more than 360 exchanges that include:
Binance
Bittrex
Coinbase
CoinSpot
Crypto.com
Gemini
Luxor
Phemex
If Koinly doesn’t support your exchange or wallet, you can import your transaction history as a CSV or EXL file or manually add your transactions.

How to sign up for Koinly
Anybody can sign up for Koinly account in five steps:

Go to Koinly‘s site and select Sign up.
Input your name and email and choose a password. Select Create an account.
Select your base currency and home country from the drop-downs. Select Continue.
Add your wallets and import your data by auto-syncing or uploading your transaction history.
Select Free Plan to upgrade your account.
Required information
Provide your name and email address to get started. To set up auto-sync, provide the login credentials to your crypto wallets and exchanges.

4 benefits of Koinly
Includes Schedule D. Like most crypto tax software, Koinly can fill in your IRS Form 8949. But unlike Accointing and Taxbit, Koinly also includes Schedule D in your tax report.
Supports crypto payments. Unlike competitors, Koinly accepts both crypto — BTC, ETH, DAI or USDC — and credit or debit card payments.
Extensive cryptocurrency support. Track transactions for more than 6,000 cryptocurrencies beyond the popular Bitcoin, Dogecoin and Ethereum.
Share access. Form your own tax team by inviting your accountant, CPA or tax agent to access your Koinly account.

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The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses a considerable risk of loss. The speaker does not guarantee any particular outcome.

I hope you found value in our Crypto Tax video. Make sure to leave a like on the video if you gained value from it!

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⏰Timestamps⏰

0:00 intro
0:21 Koinly.io
5:29 Summary

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