SafeMoon Auto-Sync

Hi, please add SafeMoon token for auto-sync. thank you

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Are you asking them to fix the problem of reporting wrong figures due to the ever increasing amount of SAFEMOON tokens you gain while holding?

I’ve got wrong numbers all over the place. $Safemoon. $Octa… Any safemoon derivative really…
This is gonna be a tax nightmare.

Please advise, team!

There are cases where I’ve sold it all, but it says I have millions of tokens and $1000’s of dollars worth…

4 Likes

I’m struggling with this too. In the US, we have short term capital gains, long term capital gains, and income tax. I’m not even sure how the reflections are going to be taxed. I would like to assume it will be taxed like dividends on stocks, and we just pay capital gains when it gets traded for something else or for fiat. With Safemoon having so many reflections per day, tracking when coins come in will be essential for getting the taxes right. I assume we will have different rates depending on when the coins landed in our wallets. If you sell all of your profits from your cost basis, then the leftover will be taxed at a $0 cost basis, so 100% gain. The rate at which that will be taxed will depend heavily on when the coins landed in the wallet.

I would really like to see this tracked in Koinly for all similar coins.

1 Like

please add safemoon support!

Do you think koinly has time to support shotcoin

I’ve got thousands of dollars off because it’s showing incorrect balances, and I’m assuming, incorrectly calculating capital gains.

I might have to consider switching to a different tax service if this isn’t implemented soon :frowning: It’s actually a huge problem with these coins that have these tokenomics fees.

Please implement BSC coins that use tokenomics like SafeMoon!

3 Likes

I have the same issue with all shitcoins that have high trading fee with automatic redinstribution.
The huge issue is that if you ever traded any of this coins in your wallet, koinly will mess up their balance even if you currently have 0 in your wallet.
My BSC wallet balance is totally way off now…

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