Is Binance interest grouped as Income @ Zero Cost?

Koinly Support
1

Describe the problem:
I have interest accuring on Binance for multiple coins. Right now kionly picks these up as zero cost as it can’t determine where the extra coins are coming from. I am fine with this however…

Is this zero cost interest calculated as capital gains or income tax? In the UK this interest will be deemed as income?

This interest will become large enough not to ignore as I will be maxing out all of my tax allowances for this year and I need to get it right as to not overflow any of the allowances.

I’ve has a look and the transaction and I can’t see any option to isolate the interest and toggle it between capital gains or income?

I have not imported or tried to edit the raw data from Binance. I am not technical.

2

Hi, if you are receiving savings interest then you will need to export a csv file from Binance which contains these records and import import it to Koinly. Missing cost assumes a zero cost basis when you dispose coins but does not show anything on your Income report.