OVERVIEW OF TRADE TYPES

• Can you explain the different trade types that are supported on this platform and how taxes are calculated for each?
  

Deposits: These are funds transferred into a crypto account. For tax purposes, deposits are not typically taxable events unless they represent income, like mining rewards or airdrops.

Expenses: Expenses related to crypto trading, such as transaction fees or network charges, can often be deducted for tax purposes, reducing the overall taxable gain.

Futures: Futures trades involve contracts predicting the future price of assets. Profits or losses from these are treated as capital gains or losses, and tax is calculated based on the difference between the contract price and the settlement price.

Interest: Interest earned from crypto lending or staking is usually considered income and taxed accordingly at the applicable income tax rate.

Trades: Regular buying and selling of cryptocurrencies are subject to capital gains tax. The tax is calculated on the difference between the buying and selling price, considering the duration of holding (short-term or long-term capital gains).

Withdrawals: Withdrawing funds from a crypto account isn't typically a taxable event. However, if the withdrawal follows a sale or trade, the taxable event is the sale or trade itself, not the withdrawal.

• Are there any specific trade types that require manual input for accurate tax calculations, and if so, how can I input this data?
  

Over-the-Counter (OTC) Trades: Transactions that are not conducted through a standard exchange need to be manually entered to ensure they are accurately captured for tax purposes.

Peer-to-Peer (P2P) Transactions: Trades conducted directly between individuals without an intermediary might not be automatically tracked, necessitating manual input.

Gifts and Donations: Transferring crypto as a gift or donation may have tax implications. These transactions typically require manual entry to specify the nature of the transaction.

Lost or Stolen Crypto: Reporting lost or stolen cryptocurrencies for tax deductions often requires manual entry, including details about the incident and any evidence supporting the loss claim.

NFT Transactions: While some platforms automatically track NFT trades, others may require manual input, especially for unique or less common NFT platforms.

Custom or Unusual Transactions: Any unique or atypical transactions that are not standard trades, deposits, or withdrawals may need to be entered manually to ensure correct tax reporting.

To add such a transaction manually:

1. Click on the Add Transaction button.

2. Add all the data related to the transaction you want to add.

TRANSACTION INSIGHTS

• How does KoinX handle spam coins?
  

KoinX's system is designed to identify potential spam coins based on certain criteria, like low value, unknown origin, or lack of trading activity. These are then flagged for the user's attention. Users are given the choice to either keep these coins visible in their portfolio or hide them. This feature helps maintain an organised and relevant portfolio view.

• How can I view insights for a specific transaction, like the purchase date and platform fee?
  

By clicking on the particular transaction, it will open a detailed analysis of the transaction, including the Purchase Price, Sale Price, Platform Fees, P/L, etc.

CUSTOMIZATION/FILTER

• How can I use the filter options to shift through transactions?
  

There is a wide range of filter options from which a user can specify anything to segregate all the transactions.

• How can I download my transactions as a CSV file?
  

On the top right corner, there is a Download CSV option, you can download it by clicking on it.

• How to toggle between different integrations?
  

Click on the Wallets dropdown from the filter list and choose from all the wallets that you have integrated.

• How to sort the transactions based on Cost, Fees, Highest Gains/ Losses, and Most recent and oldest transactions?

Click on the Sort By dropdown from the filter list to sort the transactions based on Cost, Fees, Highest Gains/Losses, Most Recent, and Oldest Transactions.

• What are Warnings associated with transactions?

Can't Find Price: This warning indicates that KoinX is unable to determine the market price of a particular asset at the time of the transaction. This situation can occur due to various reasons, such as the asset being very new, thinly traded, or not listed on major exchanges. The absence of a reliable price point can affect the calculation of gains, losses, and tax liabilities.

Can't Find Purchase Transaction: This warning suggests that KoinX cannot locate a corresponding purchase transaction for a given sale or disposal of an asset. This might happen if the purchase data needs to be included, correctly entered or if the asset was acquired outside of the tracked exchanges and wallets. Without the purchase transaction, calculating the cost basis or capital gain (or loss) becomes challenging.

• How can all the filters applied to be Cleared/Reset?

Under the Transaction filter options, click on the Clear Filters button to remove all the applied filters.

DETAILED TRANSACTION VIEW

• What are Txn Hash, Txn Source and Txn Destination?

The transaction hash (Txn Hash) is a unique identifier for a specific transaction on the blockchain. It acts as a digital fingerprint, enabling users to track and verify the transaction's details on the blockchain network.

Txn Source & Txn Destination: These refer to the originating and receiving addresses of a transaction. The TX source is the address from which the assets are sent, while the TX destination is the address where the assets are received.

• What is the Purchase Price?

The Purchase Price is the amount paid to acquire an asset or cryptocurrency. It's used to determine the cost basis for tax calculations when the asset is later sold or exchanged.

• What is the Sale Price?

The Sale Price is the amount received when an asset or cryptocurrency is sold. This figure is crucial for calculating capital gains or losses for tax purposes.

• What is Platform Fees? 

These are charges levied by the exchange or platform for facilitating a transaction. Platform Fees can include trading fees, withdrawal fees, or other service-related charges.

• What is TDS Deducted? 

TDS (Tax Deducted at Source) refers to the tax amount withheld and remitted to the government by the platform on behalf of the user, applicable in certain jurisdictions like India.

• What is Gain/Loss?

Gain or Loss represents the profit or loss realised from a transaction. It's calculated as the difference between the sale price and the purchase price of an asset, after adjusting for fees and other costs.

• How can a transaction be manually edited?

A transaction can be manually edited on KoinX by accessing the transaction details and making changes to fields like purchase price, sale price, or date. This is typically done to correct inaccuracies or add missing information.

• What is Realised & Unrealised PnL?

Realized PnL (Profit and Loss) refers to the gains or losses that have been actualized through the sale or exchange of assets. Unrealized PnL represents potential gains or losses on assets that are currently held but not yet sold.