Hey there!
Just bought a Koinly plan for 2023.
I went throught the transactions and noticed that for some of the trades that fall under the category “fiat to crypto”, the trading fees are generating profit. So for example, I buy BTC with some EUR and it generates a profit with the fees I owe Kraken:
That feels wrong, and I find it surprising that it does not happen on all similar trades. I imported first via API then CSV, the problem was the same.
Could anyone please help me out?
Best,
T
Hey @Terl
It seems that you paid a fee in BTC or a crypto asset in this purchase, this is why it is a taxable transaction.
If you expand the transaction in Koinly and navigate to the Cost-Analysis tab, you should see how the profit is calculated, and on what disposal.
Hey Ali,
Thank you for your prompt response, appreciated! Just to check if I understand correctly: when I use my EUR on Kraken to purchase BTC, Kraken retains a portion of the freshly bought BTC from the transaction, and that is considered a taxable event?
Could those transaction fees possibly be tax-deductible (Sweden) and is there an option to reflect this in the tax report by adjusting certain settings?
/Terl
