This was posted 1 year 3 months 22 days ago, and might be an out-dated deal.

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40% off Crypto Tax Reports @ Koinly

600
40% off Crypto Tax Reports @ Koinly
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ts13 on 28/07/2023 - 16:31 koinly.io (854 clicks)
Last edited 28/07/2023 - 16:32 by 1 other user
1MILLION

Better than the recent 30% discounts, but obviously not as good as free.

From email:

We are excited to announce that we have achieved a significant milestone - Koinly now has over 1 million users globally! 🚀

To show our appreciation and give back to our valued users, we’re celebrating with 40% off all crypto tax reports.

Checkout with code: 1MILLION

Hurry, as the offer is only valid until midnight July 31, 2023.

Take advantage of this limited-time offer to explore Koinly’s new features, upgrade your current plan, share the savings with others, or get ahead on next year's report.

Referral Links

Referral: random (154)

US$20 for referrer and referee.

Financial Cryptocurrency Software Tax Accounting Tax Calculator Tax Software

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closed Comments

  • jv on 28/07/2023 - 16:45
    +5

    🤣🤣🤣

  • hen dawg on 28/07/2023 - 16:52

    Cheers, perfect timing

  • freeman61 on 28/07/2023 - 16:54

    Great stuff. Have seen a 30% discount, but this one is a bit better

    • mikeleemy on 28/07/2023 - 18:16

      not better than this https://www.ozbargain.com.au/node/722386

      • G-rig on 29/07/2023 - 05:59
        -1

        Yeah 100% was better that previous time.
        Anyway don't think it's necessary, used the free binance tax tool.

    • Coinpally on 26/08/2023 - 22:08

      Yeah, better. Noticed their integration with Bitget seem quite straightforward to use

  • cloudie9 on 28/07/2023 - 16:55

    Is bitcoin still a thing?

    • Weshouldgetsushi on 28/07/2023 - 17:05

      Who knows?

    • AncientWisdom on 28/07/2023 - 17:56
      +1

      Not until the next ATH…

    • Jonzay on 28/07/2023 - 21:12
      +2

      Up 33% to $43830 since this time last year

      • 1st-Amendment on 29/07/2023 - 11:16
        -2

        Up 33% to $43830 since this time last year

        Gamblers only ever remember the wins…

        • Jonzay on 29/07/2023 - 15:40
          +1

          Was just using 12 months as a standard time period reference. I didn't mention anything about whether I have a portfolio or not.

        • G-rig on 30/07/2023 - 10:51
          -1

          Was way down since the peak a few years ago to start with. Schmucks game, someone is having a laugh (at the top).

  • SBOB on 28/07/2023 - 17:07
    +12

    Handy for reporting losses to help offset gains on investments that went in the right direction :)

    • johnnytran on 28/07/2023 - 18:09
      +1

      It's only a loss if you sell :o

      • SBOB on 28/07/2023 - 18:38
        +1

        Tell that to beanie baby hodl'ers :)

  • mousie on 28/07/2023 - 17:46

    I need a tax report for for my NFTs

    • schquid on 28/07/2023 - 18:00
      +6

      Yes I hear this year they're cracking down hard on unreported high value items such as toilet paper, used tissues and NFTs.

  • HamBoi69 on 28/07/2023 - 17:59
    +1

    They used to offer free ones, but the rep has gone quite since…..

    • kamykazi on 28/07/2023 - 18:04
      +1

      Quite what? Silent?

  • mikeleemy on 28/07/2023 - 18:15
    +1

    wer is the 100% discount code, like last year?

    • Aoejunkie on 28/07/2023 - 18:56
      +1

      That's how they get you hooked lol

  • countmein on 28/07/2023 - 18:19

    Hold for now haha, maybe next the numbers increase

  • sourbones on 28/07/2023 - 19:13

    I wonder how much it costs to calculate a capital gains loss..

    • freeman61 on 02/08/2023 - 07:29

      It all adds up if it brings your combined taxable income down.
      They have a good API which connects to any dex / cex, so is pretty handy.
      It saves me paying my accountant to do all this work.

  • rekke on 28/07/2023 - 19:26

    What's the difference between paying for a tax report, and just taking a screenshot of the net capital gains summary before paying?

    • Nom on 28/07/2023 - 20:09

      You need the tax report to validate the net captial gains figure.
      Without the detailed report, you have no way of finding and fixing the errors in your data.

      • rekke on 28/07/2023 - 20:13

        Are you sure? You can filter on every transaction within July 1 > June 30 and then fix any errors that you see.

        • Nom on 28/07/2023 - 21:11

          You can't actually see the detail of how each is contributing to your Income and Cap Gains figures without the full report…

          This is how Koinly make their money. The free product is fully functional - but you can't actually use it to submit your taxes, because you can't see how it came to the Income and Cap Gains figures !

          • rekke on 28/07/2023 - 23:17

            @Nom: If you can see the transactions and can manually add up the capital gains and income, what exactly is the tax report doing that you couldn't do yourself and then cross-reference with the yearly summary?

            • Nom on 28/07/2023 - 23:30

              @rekke: You can't do it yourself, that's why you're paying money for Koinly to calculate everything for you 🤷🏼‍♂️

              Obviously if you can, and want to, and have the time to, do it all manually then you don't need to buy any tax software, Koinly or otherwise. Good luck 👍

              • rekke on 29/07/2023 - 08:56

                @Nom: @Nom if you have to pay for premium and get a tax report to 'see how it came to the income and capital gains figures' and need to pay to 'find and fix errors in your data' I am not sure how that is any different from just going into the transactions and doing it yourself and then using the summary page. I'm not sure if I understand your point from your previous comments.

                • Nom on 29/07/2023 - 11:48

                  @rekke: I don't know how else to explain it, suffice to say that Koinly are not just giving away their product for free.

                  If you run your data through the free version, and it says you've made $5000 in capital gains, and $3000 in income, then those are the figures for your tax return. But you have no way of knowing if they are correct.

                  When you pay for the full report, you can see that the $3000 in income comes from the fact that Koinly thinks you got a bunch of free coins with no cost basis. In fact you paid for those coins, and once you see in the Income tax report what's going on, you can jump into your data and add the missing purchase values or fix whatever else went wrong for those particular transactions…
                  The only way to find and fix that error with the free version is to manually look through every single transaction - thousands and thousands potentially - to find the ones with issues - but you don't know what you're looking for (without the full report remember you don't know there's holes in your data contributing to the Income figure).

                  Just go and start using the free version, you'll quickly realise why it's not enough.

                  • rekke on 29/07/2023 - 12:49

                    @Nom: Thanks for rephrasing what you meant, I understand what you mean now. Well for people with thousands of transactions then they definitely will get some value in it.

                    For those with <100 or so, I think they will get enough value in the free version of combining all of their transactions through the crypto exchange APIs and then using the summary. Might not need to pay for the tax report if they don't need it.

                    • Nom on 29/07/2023 - 17:24

                      @rekke: If you have less than 100 transactions then I wouldn't even bother - just do it manually in Excel 😁

      • Jerruh on 28/07/2023 - 20:15
        +1

        I'm gonna blow your mind introducting a concept called a public ledger

    • Nom on 28/07/2023 - 20:11
      +4

      This is entirely false - please don't post misinformation.

      You absolutely are expected to apply capital gains tax to your crypto - there's plenty of info on the ATO site.

      • 1st-Amendment on 29/07/2023 - 11:18

        This is entirely false - please don't post misinformation

        I think it was a joke. But you do you…

    • rekke on 28/07/2023 - 20:13
      +4

      The ATO wants to have a chat

    • lookingforTV on 28/07/2023 - 23:12
      +1

      If you sell crypto on private black market maybe… but all “exchanges” are centralised - in fact, crypto that you hold within any exchanges like Binance, Coinbase etc are not even yours.

      I can’t believe two people upvoted this stupid comment.

      • SBOB on 28/07/2023 - 23:15
        +2

        private black market

        Or just a regular old non private black market DEX….
        So yeah, all exchanges aren't 'centralised'.

        Regardless, declare your crypto trades. The losses will help offset gains in the future, and numb the pain and regret :)

  • JakeTheMuSS on 29/07/2023 - 06:09
    +1

    If ur with swyftx it is free with them.

  • TheCad on 29/07/2023 - 10:40
    +1

    would be handy if they didn't count staking as a transaction in their pricing though.

  • TanTheMan on 29/07/2023 - 12:18
    +1

    FYI I have the Koinly plan for FY 22-23, and comparing its report with the free Binance Tax Tool (Note its in Beta version) which also generates a capital gains summary, both results are very similar, within 3%. So if you have only a Binance account, consider this before making purchase.

    • ts13 on 31/07/2023 - 13:14

      Thanks this is helpful. My entire portfolio is inside of Binance so may opt for this instead.

      • G-rig on 31/07/2023 - 14:09

        Yeah i used the free binance tax tool, very easy.
        CDC have one too.

  • Noleksum on 29/07/2023 - 15:46

    Thanks OP for the good deal!
    i use ITP to lodge my tax return and they use koinly to produce ceypto capital gain/loss report.
    by the way does anyone know if we can use LIFO mwthod to calculate? ITP did mine LIFO for a couple years, as I instructed them. But the last one (last financial year) they used FIFO and when i queried they said ATO only recognise FIFO, and they ignored my reasonings and arguments, so i had to lodge the return as FIFO as i couldn't argue with them. I thought whatever methods we use, it has to be consistent every year?

    • SBOB on 29/07/2023 - 16:54
      +1

      and when i queried they said ATO only recognise FIFO

      And this is why ITP is cheap….
      That's clearly not correct. It's your choice which parcels you choose to declare that you've sold, sounds like they more just chose the easiest maths/accounting option

  • joeylith on 30/07/2023 - 10:37

    Money spent on managing your tax affairs is tax deductible.

  • rehan770 on 09/08/2023 - 19:18

    I only have 1 transaction in the entire year, do i still have to disclose it. I suppose only $5 transaction.

    • G-rig on 10/08/2023 - 04:19

      Why bother lol

    • Abigailzee on 22/08/2023 - 22:08

      I was checking them out earlier this year for my nft and dex trades but ended up doing my filing by hand as I wasn't sure of their cex coverage at the time

        • Abigailzee on 22/08/2023 - 23:43

          Oh, I didn't know at that time lol it's all good anyways.

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