Deleting a wallet (throwing out private keys)

Hello. How would I go about correctly deleting wallets so the tokens in them will not show up on end of year balances anymore? But without deleting all previous transactions.

I’m throwing away some private keys and unfortunately abandoning unhosted wallets because I don’t want unsolicited airdrops.

Hi @Durad_Bozoljac,

This may depend on your jurisdiction so we always suggest double checking with your accountant.

In practice though, in Koinly, you could create withdrawals manually of the coins in the wallet that you abandon. Here is how to add transactions How do I add transactions? | Koinly Help Center

Once you have done that, they will no longer appear on your balances, as long as you turn on “ignore reported balances” in your API settings.

Note that the withdrawals will by default generate gains. To avoid this, you will want to label those withdrawals as “lost”. https://help.koinly.io/en/articles/3663453-what-are-labels

If however you want to generate a capital loss on those coins, you can do that by editing the “worth” field of those withdrawals to 0.

I also suggest making use of the note section of the transactions to clarify what those transactions are, in case this raises questions later on.

I hope this all makes sense. Definitely reach out to us at support@koinly.io if you need any help :slight_smile:

Have a great day, cheers!