We’re always seeking ways to make personal finance easier for our customers, and that includes the dreaded t-word—taxes. We hope you’ll be thrilled to know we’ve partnered up with Koinly, a simple and easy-to-use cryptocurrency tax tool, to make your calculations simpler. If you’re not already a Koinly member, you can sign up here to get a 20% discount on paid plans.
Koinly is an intuitive software platform managed by expert tax consultants. It calculates your cryptocurrency taxes by allowing you to pull in transactions from other platforms, like Newton, as well as wallets and exchanges. Koinly offers a variety of plans, whether you’re a newbie, hodler, or active trader.
Not sure where to start? You’re definitely not the only one. Here’s some helpful information on calculating taxes for cryptocurrency transactions with Koinly and Newton.
If you were to calculate your cryptocurrency taxes yourself, this is how you’d have to do it:
PHEW. We’re sweatin’—are you sweatin’? If you’re not dead-set on this mind-mangling marathon, you can let Koinly do all the heavy lifting for you. Here’s how:
If you hold any cryptocurrencies, you’re required to file your cryptocurrency taxes as part of your annual income tax return. The deadline for filing your 2021 tax return, including cryptocurrency taxes, is May 2, 2022.
Exactly how to file depends on how you prefer to file. Some prefer hiring an accountant, and some may use tax app like TurboTax. If you’re really old school, maybe you file by post.
Want to sign up for Koinly? Newton users get an exclusive discount on all Koinly plans.
Newton hereby expressly disclaims any and all express or implied warranties of any kind with respect to Koinly, its software and its service offerings. Koinly and Newton have entered into a revenue-sharing partnership to provide a discount on paid plans.