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Petur
If you would like Koinly to add multiple options for the US cost-tracking migration, you should:
  • Upvote this ticket in order to receive updates via email. You will then receive a notification whenever an update is posted by Koinly
  • Look through the comments below and upvote/like the method that you would prefer. If you don't see a method that you like, you can add a new one as a comment
  • Please check your email for updates, or log into your Koinly account before the end of the year to check if any new methods have been added
When adding a comment, the description needs to be very clear and contain:
  1. The order that your holdings (lots) will be allocated to your wallets
  2. The order in which your wallets should be filled
The default method will be "Lowest cost → Biggest wallet". You can read more about this method in the FAQ below.
Example methods:
  • Oldest holding to oldest wallet (this would order your holdings based on the date of acquisition, and place the oldest holdings in the wallet with the oldest transaction)
  • Most expensive holding to the least active wallet (this would order your holding by the cost per coin, and place the most expensive holdings in the wallet with the fewest transactions)
There are a lot of potential ways to allocate the holdings, but we won't be able to implement many methods. The deadline for selecting a method is midnight in Jan 1st (00:00 in your local timezone). Any user that hasn't selected a method before this date will be assigned the default method. If no method receives a significant number of votes, then we will only be offering the default method.
Additional tips:
  • Simple methods are more likely to get approved than complex methods
  • Koinly staff may edit comments in order to improve the clarity/description
  • You will only be able to select a single method for your whole portfolio. Each coin/token will be allocated separately, but the method used for the allocation will be the same
  • This migration will only affect holdings that are split between multiple wallets. Any coin/token that is located exclusively in a single wallet will not be affected at all
  • It is possible to optimize the migration by transferring specific coins to specific wallets, but this needs to be done before the end of the year (see FAQ)
Please also check out this article and FAQ for more information and tips:
https://support.koinly.io/en/articles/10289123-migrating-to-wallet-based-cost-tracking-under-new-irs-guidance-usa-only
Thank you all for your feedback and suggestions. We really appreciate it :)