Transfers to a business

Koinly Support
1

Describe the problem:
I have crypto transactions on Koinly that were transfers to my business wallet. I do not have the business wallet attached to this Koinly account because the tax prep is separate however I can not mark the transaction as a transfer because there is no matching transaction. What is the best way to handle this situation?

Which exchange/wallet is this regarding?

How did you import data into this wallet?

What have you tried to fix this so far?
Tried to mark the trasactions as transfers. Couldn’t because there is no matching transaction.

2

Hi @Nanette_Sinclaire

You should create two separate Koinly accounts — one for your personal transactions and one for your business transactions.

For transfers between the two accounts, you should consult your accountant to determine the correct treatment.

This is not tax advice, but some users handle this by tagging the withdrawal from one account as a gift to remove the gain and to preserve the cost basis, edit the corresponding deposit in the other account and set its worth to match that cost basis.