In Austria, there is a new crypto tax law in place since March 2022. One important change is that crypto to crypto trades are not taxed anymore. Instead, any crypto to fiat trade (or trades to any other good) is taxed.
This change causes some problems with Koinly.
- As every crypto to crypto trade is tax neutral, I’m not allowed to add trading fees to my cost basis. They can only be considered when realising gains, which only applies to crypto to fiat trades I have mentioned before.
I attached a screenshot showing an example (with fictional numbers):
When I trade 1 BTC (bought with 500€) to 650 USDC and pay a fee of 0.1 ETH on top (bought with 100€), only 500€ should be transferred as a cost basis to the USDC and all the other coins onwards. But, the transaction on the top shows a cost basis of 600€, for which reason I realise 50€ instead of 150€ taxable profit.
In order to resolve this problem, I’d have to delete every single transaction imported by the API (as I can’t edit the fees), add the transaction back manually (without the fee) and then add the fees to a seperate transaction so it doesn’t get added to the cost basis. It would take me ages to do this as I have thousands of transactions.
Other way would be to import the CVS files for all the exchanges and DeFi addresses I have used (there is a lot of them), but it would still require a massive amount of work to delete all the fees one by one, add them seperately + some CVS files aren’t even downloaded properly (lots of missing transactions, trades not displayed properly, etc.)
- Another problem I have is that Koinly realises profit on every “Send” and “Cost” transaction, which in my case is wrong (remember: only crypto to fiat and buying goods with crypto is taxable). There seems to be no way to turn this off.
I hope anyone here has an idea on what I could do. This is giving me a headache and I need to do my taxes pretty soon. 
