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"Beginning of tax year / Timezone for reports" Explained
"Beginning of tax year / Timezone for reports" Explained
Written by Robin Singh
Updated over a week ago

Beginning of tax reporting year

If your tax year starts on a different day/month i.e. if it begins on the 6th of April and ends on the 5th of April, you can enter 6 in the Day box and April in the Month box.

Koinly will show you your current tax period under it. A tax year is always 12 months on Koinly and begins at 00:00 on the first day of your tax year and ends at 23:59 on the last day.

Timezone for reports

All the timestamps of transactions in Koinly are presented in UTC time. You can use this setting to offset the timestamps in the reports you generate, so that the reports include transactions that happened in the tax year according to your timezone, not according to UTC time.

Reports that will be generated according to your chosen timezone include:

  • Complete tax report

  • Capital Gains report

  • Local tax reports (IRS report, ATO report, etc.)

Reports that will be generated in UTC timezone regardless of this setting include:

  • Transaction History report

  • Buy/Sell report

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