Separate Long Term and Short Term Gains on the dashboard
in progress
A
Amber Boa
Note from Koinly:
Our tax reports already separate all gains into short-term and long-term. The UI dashboard will currently only show the total gains so you will need to generate your reports in order to see this split.
Feature request:
In the US, long term and short term gains are taxed separately with different rates. It would be nice if these could be separated rather than having all gains calculated as one single amount in the UI.
O
Olive Whippet
Peter,
I'm a US crypto tax accountant with 8 years crypto tax experience. Posted about the call gain reports a year ago. Koinly's capital gains reports are not IRS standard as the report mixes long term and short term. The IRS requires a report that lists all short term gains, then all long term gains. This is because the tax return must separately list the amounts of short term and long term gains.
Yes, Koinly's report has a column for short or long term gains.
However, it's necessary to reformat the report to IRS standards.
I was spending so much time reformatting the cap gain reports that I paid a colleague to create an Excel macro to handle the reformatting.
The macro helps immensely, but still takes time.
Every other crypto tax site I've seen has a standard report that lists all short term gains & all long term gains per IRS standards.
Koinly is the best crypto tax site available - please add this feature.
P
Petur
in progress
You can now see the short-term/long-term split for the current tax year, as well as the potential gain for each asset.
You can view this on the 'Tax Optimization' tab on the dashboard.
We will soon also be adding a different dashboard that will include more detailed analysis, including the short-term/long-term split for all past years
L
Loose Wildebeest
Petur great feature. it would be really helpful if you also integrate wallet specific short-term/long-term split!
U
Utrecht blue Porcupine
This needs to be bumped up and featured. This is a tax program after all. Apricot Canidae