How to Use CoinLedger.io to Easily File Your Crypto Taxes
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- Опубликовано: 9 июл 2024
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Use : CRYPTOTAX10 at Checkout
00:00 Introduction
0041 How to Determine if you need to file Crypto Taxes
01:07 Why You need to Include Your wallet Crypto Wallet Data
02:39 A brief Overview of CoinLedger Features
04:38 Crating a CoinLedger Account
04:58 Connecting Your Coinbase Exchange
06:23 Connecting Your Binance.US Exchange
09:38 Connecting Your KuCoin Exchange
12:36 Importing Bitcoin Wallets
16:06 Importing Ethereum Wallets
17:24 Importing from MetaMask Wallet
18:14 Importing Alternate Chains from Metamask (Binance Smart Chain, Avalanche etc.)
20:27 Using Filters to Separate Exchanges, Blockchains, & Wallets in CoinLedger
Legal & Disclaimer Notice: This video is provided solely for informational and/or educational purposes. It is not offered as advice (whether professional, financial or investment advice or otherwise). Investing in Cryptocurrencies is inherently risky. Never spend money on Cryptocurrencies you can’t afford to lose.
The principles discussed in the video should be considered general advice. Please consult your CPA or Tax preparer for specific advice for your individual needs.
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Is it possible to be synced duplicated transaction if you connect wallets like XRPL wallet and uphold account?
Thank you sooo much for this Video! As I'm sitting here the weekend before Taxes are due. I would not have figured this out on my own, thank you thank you!
Where is Uniswap? It's not on the current CoinLedger suggestions list. Is there anyway to upload it?
Great informative vid! Question: Is CoinLedger more convenient or accurate than using Google Spreadsheets and importing Coinbase data/transactions to the spreadsheets?
I'm looking for a work around to convert the date/time stamps into UTC as required by coinledger. FTXUS no longer has a 'convert to UTC' button so the csv's timestamps are in the wrong format. I've had no luck figuring it out via google search. Would appreciate your help if you had a successful method. Thank you kindly. Your videos have been so helpful to me.
You just earned another subscriber. Thank you for the information on connecting the wallets!
You’ve helped me out numerous times thanks Crypto Dad
Thank you!!! This is exactly what I was looking for tax season. Your videos are truly "fool-proof!"
This is fantastic!
Your the best. Thx for the info
Hi, thank you, one of the great and useful tutorials by Rex
Thank you so much for your help really needed.
Thank you!!! This video has helped me tremendously 🙏🏼
Hi
TY Young man 👍
Thank you was a bit nervous this is the first time I do Crypto taxes
Hi Cryptodad great video, I have a question how do you add your XRP account and Algorand account from your ledger nano x to coin ledger ? Thank you in advance.
Hello CryptoDad, great video as usual. I have xrp and icp and cant enter my receiving addresses in coin ledger. Could you do a video on how to enter odd currency into coin ledger?
Aren't you suppose to click the generate irs button at the end?
Thank you your videos are so helpful👍If i conducted multiple swaps on a Metamask wallet before tying it to a Ledger wallet will Ledger Live pick up the swaps in the Metamask wallet prior to the transfer of MM onto the ledger hard wallet?
i love your vodeo and the way you expalin things i have a request if you can make a video how to edit those transaction if you invested in projects that rugged or disappeared or you withrawed a little but over all investment lost .thank you in advance
I'm going to give you an easy question. For my coinbase wallet do I need the xpub address or the ETH address for my taxes. Thank you.
Great video 👍🏼 Do you participate in any DeFi projects with staking ROI rewards like Drip or Animal farm or Ark Finance? If so, how are you categorizing staking transactions? Are they considered ‘withdrawals’ into the project or ‘deposits’?
Very helpful video!! Do you still earn money when the cryptocurrency is stored offline in a wallet? Thanks for all of your videos. Some of the best I’ve viewed
Thank you so much! What about when you send to a wallet that is not yours, but you are basically gifting crypto to someone?
How do I avoid duplicates years?
How to enter Assets in Manual section which is not found in the list?
I noticed you used the ledger to transfer some files from the wallet to the exchange but should I also add the ledger wallet as an account to coin ledger?
Great video. Im having problems with webull crypto can't upload the cvs
Hello crypto dad great videos by the way . I have a question for you . I have harmony one crypto that i navigate and stake coins thru my nano s plus on the harmony one website . My question to you is I'm not quite sure how to put the harmony on to coin tracker to do my taxes ? Do I add harmony to coin tracker thru my ledger s plus wallet or thru the harmony one website ?
Thank you
Can u explain how to calculate the tax of cripto ??
Hi Crypto Dad, when to add account and that wallet is not in the search box, what do I do next, please!🙏
How can I do an API import from my Lobstr wallet?
Could you please explain how to link the keplr wallet to coinledger. Thanks.
Hello ,Can you plz help me how upload tax report from exodus to coin ledger?
Hi love your videos!!! Is coinledger easier to use then koinly? I'm struggling with koinly!
What about the fees and costs of moving ? Does it account for that also?
I have an Ellipal (first version) and KeepKey (first version), how do I accumulate the tax data from each of these wallets?
Awesome content The cryptodad! How about for staking?
Does this keep track of FEES paid including ETH fees...which are high! TY
What if you run into a chain that is not listed? Ex: Flare is an EVM chain but is very new.
Did they change the system to now just add your metamask wallet address and coin ledger pulls all the information from every chain?
Hello Cryptodad, I have been trying to change the time on the autolock setting on ledger live to NEVER or 1 hour, but as I change them in the setting, it stills locks my ledger nano X every 10 minutes, should I clear the cashe in the setting in ledger live, or do you have any other suggestions, to solve the issue, thanks
If you have a web wallet like Metamask and have a burner account for connecting to websites and a second account for keeping and not trading from and not connecting, is it safe to give the details of deposit account?
hello cryptodad, thank you for the great video,I found my Xpub address of my bitcoin account on the ledger live as you mentioned, and made sure I only included the numbers and not the codes, but when I try to connect the address to coinledger under new account on bitcoin, the coinledger says an error detected, and refresh the page, so it does not read it or recognize it, any suggestions I would appreciate, maybe clearing the cashe?
It doesn't appear that coin ledger doesn't support bifrost wallet, is it still possible to integrate it, thanks?
Can you do Yoroi?
How are you sure they are not hacking your information and selling it to other companies or gov?
How would I delete everything and start over as if I hadn't entered anything?
Hello crypto dad, when you say wallet, that's like ledger live correct?, if you keep everything on ledger live, is that a wallet?. How do i connect that. So if i send to a exchange it knows it's a transfer.? Not a sale or purchase. Thanks
I dont see Wrench in my Ledger live upper right in 2024?? How can I find it to access BTC info??
How do you do nfts why nobody shows that
What if I've been trading crypto for 3 years and never put it on my taxes.
Can I use coin ledger for back transactions?
Hello CryptoDad! Yet another great tutorial from you, thank you! Question, please: when adding a wallet addresses for the first time, what should one do for the next year?... To add the same addresses again?... Or somehow activate or confirm the address he/she added in a previous year? Also, what if a user inputted only information from the exchanges for the last 2 years with no wallet info inputs? ... Thanks again!
I believe it will import the entire transaction history of the wallet and track it going forward. When you do tax reports, you just specify the tax year in the pulldown menu.
@@CryptoDad is there any way you can do a step by step on missing cost basis I'm lost
What about the fees and costs of moving ? Does it account for that also?
There is no two factor security and you can't delete the account? what's the point?
do i pay taxes if i tranfer bitcoin from my ledger to bitcoin at coinbase and then to USDC
What about Kucoin in USA ? Is that possible?
I don’t know why I can’t import my Stake ADA on my Ledger through Yourio wallet?? Any thoughts
Good vid! .. what about account in tracking metamask wallet under ledger or trezor as cold wallet? ( I dont want to double dip on transfers and trades tracking).. Appreciate your " false sale" comment regarding what happens if your wallet transfers are not included... not knowing this last year cost me huge in taxes.. no i know why.. false reporting of sales that were actually just transfers to cold wallet ..
If you are using a ledger device with Metamask, it is effectively the same wallet you can see in ledger live. You only need to add the Ethereum wallet address once. You can do the same thing with the other chains if you are using Polygon, and Avalanche etc. Tell Coinledger you want to add a Polygon wallet for example and use the same address. All of the trades and transfers will appear in the wallet history. You may need to manually adjust each transaction if Coinledger does not accurately categorize it.
Great video, thanks CryptoDad. Do you use CoinLedger for nft trades?
I noticed that my imported Ethereum wallet history includes NFT deposits. Not really sure how they calculate profits on those. I'm assuming it would log it as a trade if it gets swapped for ETH.
How do you add the XUMM wallet? The drop down for chains doesn’t offer XRPL
Plus nfts right. I added xumm addres it worked for coins I don't see nfts
If I file jointly with my wife, can we combine her trade history from her exchanges and wallets and combine them with mine ? Or are they sopposed to be done seperate? This is never explained by anyone...
What about Bitrex now not available?
Your videos really help me on understanding how to move crypto to a ledger. Now on coin ledge I’ve synced my coinbase, and my ledger nano x but I’m having a hard time getting my cardano to sync in my coin ledger any suggestions
Yes, unfortunately for Cardano You have to import transactions manually... uuhhg!
help.coinledger.io/en/articles/2584884-manual-import-guide
This sucks
This is not working for CRO, DASH or BNB. Any help would greatly be appreciated.
Can you do a video with coin ledger manual Templeton csv up load from ledger live?
hey did you find good video that explains this?
Hey Crypto dad thanks for your good work!
Would you consider doing a “Crypto Taxes for Idiots” tutorial as I’ve been following you for two years and in spite of your valuable information, I have yet to be able to quite get it.
One problem I’ve been having has to do with it asking which computers should be allowed in this process, and displays IP addresses and that totally loses me. Perhaps I’m explaining it wrong, but anyway, it’s been preventing me from getting the job done.
I can’t help but think there are likely others who would benefit from you slowing it down a bit and breaking it down a bit more so that us older folks and newbies can get help too,
Thanks again
For Keplr extension, how do download the transaction history? Please help.
The only way to view your transaction history is by using the Cosmos explorer: hub.mintscan.io/chains/overview
You would just paste your wallet address in there. Not really sure how you would export this though.
Hi. U.S. citizens cannot access Binance for any tax events, any ideas on that or is there a TAX ONLY function to account for those trades that they will allow. Also, you did Koinly before, any preference? Thx for every video you do
Koinly absolutely SUCKS! I spent many weekends trying to fix it. No matter what I did, simple buy & sells, and transfers to wallets, get recorded as a sale!
@@caribbeanbtchodler33 same here, unfortunately I already paid for Koinly for 2022 and am totally lost. If I have to fix everything 1 by 1 whats the point of of paying for the software... also after I sync with Binance US now it changed 2021 as well!!
I cant seem to import csv file from Atomic Wallet. Ive tried to import it as a xlsx file too but that did not work either. Any advice?
Did you fix the issue? I am having same issue
Taxes are not in the us code...
Tried this, couldn't figure out how to import XRP and XLM from nano wallet or Lobstr transactions, didn't work for me.
Did you figure out how to do it? I only see certain blockchains but not xlm or xrp either
@@bristian6467 you can do it with koinly only problem I don't see anyone showing how to do nfts I need to do nfts too
Does CoinLedger show staked balances also for your wallets?
I'm not an expert at this, but I think you only get taxed on staking rewards. I'm not sure how they treat tokens that are being staked. Not sure if they treat that as a transfer or a sale. I would assume it is treated as a non-taxable transfer. Because you are not selling staked tokens. You are just transferring them "somewhere else" for while and then eventually back into your wallet.
@@CryptoDad thanks for the reply! I just noticed anything staked on binance US or my AVAX wallet wasn’t showing on CoinTracker or CoinLedger. Also ran into having scam coins in a wallet that’s making my balances off quite a bit now, is there a way to delete these coins or just make a fake sale to get them out?
do i only upload 2022 transactions or years prior as well?
The entire history of the wallet is tracked. You choose the tax year you want to file when you prepare your report. Only transactions from that tax year are taken into account.
If I bought in 2021, and sold in 2022, how is the cost basis (purchase cost) determined if I only include 2022 transactions (to show if the sale resulted in profit or loss)?
All new to trading since Oct 2023, and your channel is excellent! I made several deposits to my wallet, and if I were to withdraw the same exact amount that I deposited, is that taxable? Thank you!
I'm not a tax expert. but it's my understanding that you only create a taxable event when you sell. Just transferring crypto between your wallet and the exchange is not a taxable event.
@@CryptoDad thank you sir. I consulted w/ two seasoned crypto day traders and they said this software is not safe? I'm open to hear if you feel otherwise?
@@ambercrosbyrealestate Well ask any question and you’ll get a multitude of opinions on any subject. So the more people you ask, the more confused you’ll probably get. But giving out your public crypto addresses is not dangerous in any way or form. Cryptocurrency addresses were meant to be shared publicly. That’s why we have private keys. If they mean, it’s unsafe due to privacy concerns, then, perhaps they have a point. But as I mentioned, there are lots of different software services to choose from, and there are many tax professionals that can simply do all of the legwork for you. You’ll simply provide them your exported transaction histories and wallet addresses. It sounds like you may feel more comfortable going to a local professional for something like this, if you’re worried about software issues.
@@CryptoDad I'll do more due diligence as I just learned about Coinledger, yesterday. Thank you sir, and will listen to more of your video's.
IS it free? I just need one report from NDAX
Is this a free or a paid service
Crypto doesn’t move or go anywhere
Doing all this just to give money away is wild lol….is metamask even listed for exchange?
scam $50 bro im poor
Sounds like a SCAM⛔️
Just say no! Noboby at IRS office out here.
Your exchanges report it to the irs if you are US citizen
@@TripleB101 Fook the IRS...just saying.🤑
How to enter Assets in Manual section which is not found in the list?