Koinly Dashboard Values Tax Implications

Hi,

Getting around to use koinly and after importing all my transaction history, etc… I’m just trying to figure out what each fields really mean. On my dashboard it says that my total value is 12.7k and cost basis of 8k with unrealized gains of 4.6k. On the breakdown it says that my income is $15k what does this represent? why is this higher than my total value?

Also is it correct for koinly to treat cash deposits as income? I’d do Etransfers from my bank account into certain exchanges and koinly is labeling them as income.

On the breakdown portion:

  1. Received - What does this field represent? Does this represent the amount in dollar signs I’ve received in total profits from my crypto trades?

  2. Sent - Same as above not entirely sure what this represent, is this the the amount of crypto I’ve sent out? sent out to where?

  3. Income - My income is showing a number much higher than my Total value so not sure how this is calculated or what it represents? Is this the number that I’ll be taxed on?

Any help to clarify my questions would be appreciated.

Thanks!

1 Like

+1 A breakdown of the breakdown would be cool for new people to understand the implications behind each category. A mouseover of each area with a synopsis would be great as a start point.

Josh.