In this video we talk about various DeFi transcations with popular blockchains like Solana, Eth, and so on… and how to import them into Koinly.
[Watch] Complete Crypto Tax Guide 2023
[Watch] Adding Manual Transactions
[Watch] How To Do Your Staking Tax Fast With Koinly
[Watch] How To Do Your Liquidity Pool Tax
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Our tax team has done a lot of the groundwork to provide you with facts and education on crypto taxes, but neither myself nor Koinly are financial or tax advisers. This information is for educational purposes only and is not tax, financial, or legal advice. It’s not comprehensive or a substitute for professional advice. Examples given may not apply to you.
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Today we’re taking a comprehensive look at how DeFi taxes work, specifically through the lens of CoinLe.
If you have multiple DeFi protocols and blockchains you’re juggling, CoinLe is a go-to platform offering automated wallet tracking for popular chains such as Ethereum, Solana, Binance Smart Chain, Polygon and more. The platform makes it possible for you to accurately and easily calculate your DeFi taxes.
After setting up a CoinLe account and entering your blockchain and wallet information, the platform starts to automatically collect your DeFi transactions, including liquidity trades, staking, and lending. This even goes beyond taggable transactions with over 3,000 protocols covered.
CoinLe also allows you to easily link transactions from other exchanges and wallets with their numerous integration support of over 800 platforms. Weekly videos from Coly explain new integrations to guide those still needing to connect their accounts.
With a well connected Coily account, you can get your Capital Gains Losses and income to accurately document it using cryptocurrencies such as airdrops staking & so forth, which can be documented with clear tagging options since many are tagged automatically.
Ultimately with access to various cryptocurrency tax reports, Coly works hard to turn tax complexities into simple reporting tasks through summary year stackups, detailed reports with tax-calculated formulas within and so much more.
That way anyone seeking quick assistance with cryptocurrency tax tasks, gets high standards ease in making these reports accessible at Coily – what is a cryptocurrency tax report? According to their notes a report of all the profits of certain profits your income is, which might also even assist other, which helps people understand and identify just simply so know about their cryptocurrency tax return, your ‘ Crypto reporting.’
