- Create a custom CSV file with all your transactions - this is ideal if you have a lot of transactions
- Add transactions manually via Koinly - when you only have a handful of transactions.
Before you start adding transactions manually it's a good idea to understand the different transaction types on Koinly.
To add a transaction manually:
- Create a wallet - all transactions in Koinly belong to a wallet so either create a new wallet or skip this if you plan on adding transactions to an existing wallet.
- Go to the Transactions page.
- Click on the Add Transaction button
- Select the transaction you want to add (more info at the bottom of this article).
- On the following page, set the Date and Time when the transaction occurred. The wallet you want to add it to and the currency/amount. You can also add an optional label to the transaction. If you know the market value of the transaction then you can also click on Set worth and specify the value, otherwise Koinly will fetch the market price for it at the specified date/time.
- Hit save.
Which transaction type should you select?
Select a Deposit when you receive crypto, Withdrawal when you send crypto and a Trade when you trade between cryptocurrencies.
If you are purchasing crypto using fiat then you have the option to choose between a Deposit or a Trade. The difference is that, if you choose a Deposit, you will need to set the Net worth to the fiat amount you paid for it and if you add a Trade you will need to set the From Currency/Amount to the fiat amount. Both of these methods will result in the exact same tax report.
If you are selling crypto for fiat then you have the option to choose between a Withdrawal and a Trade. For Withdrawals just set the Net worth to the amount you sold the crypto for and for Trade you will need to enter the fiat amount in the To Currency/Amount field. Both of these methods will result in the same tax report.
How do you add a Transfer?
A transfer can not be added manually, instead you must add a Withdrawal transaction in the wallet that you are sending from and a Deposit transaction in the wallet that you received the coins in. Refer to this article on how to add transfers.