'German/Austrian 1yr Tax-free rule' Website Implementation -> destroy all your Competitors with this simple small Feature [SOLVED]

Feature Requests
#1

[in Germany and Austria after 1 year of holding a crypto it becomes tax free]

I imagine you have such an opportunity here

Cause i tried Koinly, Accointing and Blockpit.
Accointing is from Germany, blockpit from Austria.

And it’s amazing how much i think Koinly is better.

With Accointing i could at least import Api’s and wallets. But the result was still a total mess and entries didn’t match together, i have like 300 transactions to ‘classify’ by hand and a lot of ‘missing funds’.

With Blockpit it is even worse, i cannot even get the data in. It can’t import Bitcoin, can’t import Bitfinex (all at least in no good way at all), it can’t import altcoin wallets and even the imported bitcoin-wallets didnt work.

I mean, what is missing for Koinly to completely blow them out of the water.
You already detect all the gains from cryptos held longer than a year anyway!

You just need a button on the website (where you already chose which country, fifo-lifo,…) ‘German tax free over 1 year held-option’ and when it’s activated set the tax for ‘longer held than a year’ to ‘0’. So all the german and austrian guys see the correct taxes right on the website - how cool!

And ‘boom’ you destroy the competition and are king of the german market also
You already mostly support Austria and Germany in the tax reports (there you write ‘long term gains over 1 year:’), and you have a german lead in homepage.

Where can I see how long I held my coins?
#2

+1 here :grinning: fully agree…Koinly is much better…

2 Likes
#3

+1 Would love to see this feature too

2 Likes
#4

+1 Here.
Simply you can boost your users with adding a simple EditText to set the tax free duration. Exactly something like what your competitor CoinTracking is offering.
Then you would have many new users from at least EU countries which more or less have a tax reduction system on long-term capital gains.

3 Likes
#5

to all +1 guys @News2020Crypto @sk_sid . please upvote on the top left of the feature request so the dev-team can see it.
Koinly PO: Please put it in your next Sprint!!

2 Likes
Taxreport Austria
#6

+1! Would be a killer feature

1 Like
#7

Ok hold on, isn’t this feature sort of in place?
If you print a tax report, it separates short- from long-term gains.
Where does Koinly draw the line to determine whats long- or short term?

1 Like
#8

Hi there!

Yes, i read that it does that in the tax report, that’s great!
My problem is with the web interface, this is my situation / problem:
Eg my Koinly web interface calculates i have lots of gains/earnings.
So, i wanna check all transactions that give me taxable earnings. To see if it’s all right. Cause i don’t want to pay thousands more in taxes because i forgot to add some wallet eg and some transfer is seen as a ‘sell’ instead of an internal transfer.
So what do i do?
I go through transactions and everything and sort by ‘highest earnings’ (great feature!!!)
Idea: I see all the actions / entries that is reason for the big tax i have to pay, and i check them one by one.

My problem: I see lots of earnings/gains when i sort by ‘highest earnings’ - BUT: on the web interface i just don’t see at all if it’s earnings over a year = actually tax free in my country.
He tells me i made big realized gains - but the important information for me that is missing on the web interface is if Koinly thinks these are long term gains (cryptos sold only after more than 1 year holding, tax free in my country) or short term gains
I am ok with transactions and stuff that Koinly rightfully thinks are tax free for me!)
I want to filter out the transactions and stuff that actually raise my Tax i have to pay.

So i see a lot of entries. With a lot of gains. But i don’t know which i should look closer into.
Eg I see an entry where i made 50k in realized gains. I ‘think’ it’s tax free cause i held it over a year - BUT: i don’t know it looking at my Koinly Web-Interface. I can only guess. I want Koinly to tell me if he also sees it that way!!

Else i don’t know: Does Koinly think i have 50k in taxable income? Or does he think the sell was with crptos held longer than a year and i am tax free on that transaction? No idea looking at the web interface!

I hope this was understandable, i am not a native speaker

ps i saw some Threads from europeans/germans that have the Gist of this post
Eg just the fear/insecurity in the website interface of ‘does Koinly understand and can it correctly apply taxes in my country with tax free after one year holding’

3 Likes
#9

Unfortunately i can vote it up. It says:"
Limit
You are out of votes, remove an existing vote!"

#10

If you think this one is more important you could remove an existing vote to something else that you have given)
Anyway good day!

#11

This is the only thing that’s holding me back from buying the plan… I don’t want to risk paying and then find out the 1-year-rule is wrong.

I’d also like to see the long/short term split for all years, not just the recent ones, else old mistakes might stay invisible and ruin my current tax report.

1 Like
#12

exactly what I need urgently!

#13

I agree, this is a very important feature. Cointracking & Accounting even have a visual representation of the long term gains. I can quickly see how much of my portfolio becomes tax free with a date selector.

#14

I would definately need a overview wich shows wich coins become tax free at wich point.

PLEASE IMPLEMENT IT.

1 Like
#15

Hi Everyone,

Koinly already supports this!!

If you have set your country to Germany or Austria then Koinly will split your gains into short-term or long-term gains based on whether the asset has been held for more than a year.

Your tax report will show the gains split into these 2 categories.
You can then proceed to report your short-term gains to the tax authorities but the long-term gains are TAX FREE!

Note that Koinly will still show the gains in the dashboard and you will still have a profit shown.

1 Like
#16

Yes, i read that it does that in the tax report, that’s great!
My problem is with the web interface, this is my situation / problem:
Eg my Koinly web interface calculates i have lots of gains/earnings.
So, i wanna check all transactions that give me taxable earnings. To see if it’s all right. Cause i don’t want to pay thousands more in taxes because i forgot to add some wallet eg and some transfer is seen as a ‘sell’ instead of an internal transfer.
So what do i do?
I go through transactions and everything and sort by ‘highest earnings’ (great feature!!!)
Idea: I see all the actions / entries that is reason for the big tax i have to pay, and i check them one by one.

My problem: I see lots of earnings/gains when i sort by ‘highest earnings’ - BUT: on the web interface i just don’t see at all if it’s earnings over a year = actually tax free in my country.
He tells me i made big realized gains - but the important information for me that is missing on the web interface is if Koinly thinks these are long term gains (cryptos sold only after more than 1 year holding, tax free in my country) or short term gains
I am ok with transactions and stuff that Koinly rightfully thinks are tax free for me!)
I want to filter out the transactions and stuff that actually raise my Tax i have to pay.

So i see a lot of entries. With a lot of gains. But i don’t know which i should look closer into.
Eg I see an entry where i made 50k in realized gains. I ‘think’ it’s tax free cause i held it over a year - BUT: i don’t know it looking at my Koinly Web-Interface. I can only guess. I want Koinly to tell me if he also sees it that way!!

Else i don’t know: Does Koinly think i have 50k in taxable income? Or does he think the sell was with crptos held longer than a year and i am tax free on that transaction? No idea looking at the web interface!

I hope this was understandable, i am not a native speaker

ps i saw some Threads from europeans/germans that have the Gist of this post
Eg just the fear/insecurity in the website interface of ‘does Koinly understand and can it correctly apply taxes in my country with tax free after one year holding’

#17

You can see the breakdown for each transaction by clicking on it and looking at the Cost Analysis. This will tell you if the gains are short or long-term. Note that one transaction can be both short and long-term at the same time (Eg. if you buy 1 BTC in 2018 and another one in 2020 but you sell both of them in a single transaction in 2020).

We will soon be adding a more powerful filtration and sorting system and being able to filter out all long-term transactions is a good idea.
I’ll add it to the list!

4 Likes
#18

It’s not solved imo that’s not what we ment.

We need a simple overview in the dash board showing when assets are nearing a hold period ofmf 1 year, so you know you can realize gains / losses in a tax efficient way

This is not solved

3 Likes
#19

Hey I just request a feature like this. We need a “simulation” section that predict the tax for a potential future action.

2 Likes
#20

In Luxembourg long term gains are considered if they happens 6 months after purchase. Is this considered in Koinly reports ?