How to Calculate Your Bitcoin Taxes with Koinly in 2024

Tax season can be overwhelming for crypto users, but it doesn't have to be. With the right tools and knowledge, you can easily calculate your Bitcoin taxes and stay compliant with tax authorities.

Why You Need to Report Bitcoin Taxes

In most countries, Bitcoin is treated as property for tax purposes. This means:

Capital gains when you sell Bitcoin for more than you paid
Capital losses when you sell for less than you paid
Income if you earn Bitcoin through mining or services

What is Koinly?

Koinly is a cryptocurrency tax software that automatically calculates your crypto taxes. It supports over 700+ exchanges and wallets, making it easy to import all your transactions.

Step-by-Step Guide

1. Create Your Koinly Account

2. Connect Your Exchanges and Wallets

Koinly supports major exchanges like:

Coinbase
Binance
Kraken
And 700+ others

3. Review Your Transactions

Koinly will automatically categorize your transactions, but you should review them for accuracy.

4. Generate Your Tax Reports

Once everything looks correct, generate your tax reports for your country's tax authority.

Supported Countries

Koinly supports tax reports for:

United States (IRS Form 8949)
United Kingdom
Canada
Australia
Germany
And many more

Pricing

Free: View all transactions
Starter ($49): Up to 100 transactions
Hobbyist ($99): Up to 1,000 transactions
Trader ($179): Up to 3,000 transactions
Pro ($279): Unlimited transactions

Secure Your Bitcoin While Managing Taxes

While you're organizing your crypto for taxes, don't forget about security. Many investors lose Bitcoin to exchange hacks or software wallet vulnerabilities.

The Ledger Nano X is the most trusted hardware wallet, used by millions worldwide to secure their Bitcoin. It features:

Military-grade Secure Element chip
Mobile app with Bluetooth connectivity
Support for 5,500+ cryptocurrencies
Proven track record since 2014

Protect your Bitcoin with Ledger →

Get Started Today

Don't wait until tax season to organize your crypto transactions. Start using Koinly today and make crypto tax season stress-free.

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