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Author: Admin | 2025-04-27
Reports with standard accounting tools such as CCH, Drake Accounting, and TurboTax among others.2. KoinlyKoinly is another excellent tool for crypto traders and miners looking to do their taxes. It provides support for traders, investors, and miners in over 100 countries. If you’re looking for a modern portfolio tracker and crypto tax calculator, Koinly is a tool to check out. In calculating taxes, Koinly considers the accounting system of all supported countries. This makes reporting and tax calculation simple, no matter the country you’re in. Even if your country is not listed, Koinly is ready to support you when you need help calculating your taxes. The best thing about Koinly is that it can generate country-specific tax forms such as Form 8949 and Schedule D if you are in the USA or the K4 in Sweden or Capital gains summary if you are in the UK, and so on. This means you can simply print out the report and send it to your tax authority instead of having to copy/paste figures onto a form by hand.When it comes to exchanges, traders have many options to choose from. It also makes integrating with an exchange or wallet simple for any trader using secure read-only API connections. Koinly supports 68 wallets such as Exodus, Trezor, Ledgers, etc, over 300 exchanges, and more than 6000 cryptocurrencies. If you can’t find your exchange among the hundreds supported by Koinly, you can simply download and import CSV or Excel files instead. Koinly can import such files without having to make manual changes to them. Tracking your trades and calculating taxes on Koinly is very simple and easy.Key features of KoinlyModern and user-friendly UI makes it simple to use, even for beginners.Integrates with more than 300 exchanges and wallets via API or CSV files.It lets you track trades and transactions in real-time with profit/loss graphs and a complete portfolio overview.Supports Average Cost, FIFO, LIFO, and Specific Identification (Multiple Depot) accounting methodsTraders can generate tax reports based on the accounting system of their countries. Traders can export their crypto reports to general tax tools such as Xero
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