Koinly allows you to tag cryptocurrency deposits and withdrawals that have special meaning in your tax reports.
Deposits can be labeled as one of these:
- Reward (used for staking rewards / referral bonuses etc)
- Other Income
- Loan Interest
These deposits will appear under the Income section on your tax reports.
Withdrawals can be tagged as Gift, Donation, Lost and Cost.
The Gift/Lost/Donation labels are special and will result in the withdrawal not generating any gains. It is as if you sold the coins for the same price that you bought them for. You should only use these tags if you know that your country does not tax Gifts/Donations/Lost assets.
The Cost label will still result in a profit/loss but the transaction will also show up on the Expense section of your Tax Report.