How does Koinly treat deposits?


lets say I have wallet A and transfer 1,000 USDC to wallet B. From wallet B I then transfer the 1,000 USDC to wallet C. Only wallet B is known to Koinly. Will Koinly treat the 1,000 USDC as income? Or tax it in any other way?

1 Like

Hey @kev

By default, it will be treated as a Deposit. If you wish to consider it as Income, then you would need to apply a label to the transaction.

Deposits are not taxable in Koinly, and by definition are treated as investments at market value.

You can learn more about the different types of Transactions in Koinly on the link below. I hope that helps :slightly_smiling_face:

1 Like

This topic was automatically closed 60 days after the last reply. New replies are no longer allowed.