Flag a Wallet as Non-Taxable
P
Plum Crayfish
Well, Jack from Koinly, in my experience, crypto in non-taxable wallets (like IRA/Roth IRA accounts) still need to be tracked and reconciled. Koinly is (was?) a good place to do that for all my accounts/wallets.
That may not be how YOU anticipated Koinly to be used, but I found the ability to track everything in one app useful. But if you're going to get offended that someone would use the app for something you didn't intend, I apologize for my transgression. Do you know of any apps that do that, plus include the tax reporting? Or one that at least doesn't cop an attitude if someone finds functionality that they didn't think of first.
I appreciate your time,
Landy Johnson
P
Persistent Prawn
retirement fund.. operational
Jack
In what scenario would this be useful?
In my experience, whenever someone wants to tag a wallet as "non-taxable", it means that they shouldn't have added this wallet to Koinly at all.
Because it's either not their wallet or a wallet that should be treated separately (e.g. belongs to another entity, like your company or retirement fund)