KimonoElegance
Mon Jul 08 2024
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6 answers
1618
How does koinly calculate bitcoin profits & taxes?
As a cryptocurrency enthusiast and tax-conscious individual, I'm curious to understand how Koinly calculates Bitcoin profits and taxes. Could you elaborate on the process? Specifically, I'm interested in knowing if Koinly considers factors like transaction fees, mining rewards, and airdrops in its profit calculations. Additionally, how does Koinly determine the taxable events and the applicable tax rates? Are there any specific rules or regulations Koinly follows to ensure accuracy and compliance with tax laws? I'd appreciate a concise yet detailed explanation of Koinly's methodology in this regard.
