What I actually need to report for taxes

[ashina22]

Wanted to confirm some things about what I have to report for taxes:

buy USDC with fiat and transfer USDC to different wallet - dont have to report
buy solana memecoin with USDC and do not sell any of it - dont have to report
send memecoin between addresses - dont have to report

Am i correct to assume that i wont have to report anything for my 2024 taxes?

I am a bit confused because Koinly says my capital gains/P&L is (some number), but this is strictly from transfering coins from one wallet to another
When i set the filter “Trade: Crypto → Fiat”, nothing shows up (hence I have not sold any of the coins i bought). Therefore, wouldnt I not have to report anything for taxes, as i only moved coins between addresses?

[Aria_Koinly]

Hi @ashina22

I cannot give you a definite answer as these depend on the country you are filing taxes in, and we generally refer our users to tax advisors when it comes to such questions.

I suggest you check out the blog posts and tax guides to find the answer to your question:

https://koinly.io/blog/tags/guides/

https://koinly.io/blog/

regarding transfers between wallets, it is important to check if you have added both the sending and the receiving wallets because otherwise, you will see gains on the withdrawal. For more information, check out the article below:

How Koinly handles transfers between your own wallets