Transaction Fees | Users Seek Bulk Solution to Separate Costs

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A growing number of people are frustrated with Koinly's default settings, as they attempt to file taxes accurately by itemizing transaction fees separately from the cost basis. Many are calling for a bulk solution to streamline this tedious process, raising questions about Koinly’s reporting functionality.

Context of the Issue

Users find it challenging to report fees accurately. Currently, Koinly combines fees into the asset's cost, complicating tax filings. A user shared, "It would be a huge time-saver if I didn’t have to open each transaction manually." This sentiment resonates with those seeking a more efficient way to sort through fees.

Is There A Way Out?

Numerous comments highlight the difficulty in separating fees, with mixed sentiments about potential solutions. One comment warned, "Unfortunately, this is not possible because fees are included in the cost basis, which directly impacts your gains."

Interestingly, some users suggest manual entry as a workaround, while others express hope for new reporting features. Notably, a Koinly Automoderator pointed users to their FAQ for assistance, emphasizing the importance of contacting official support rather than relying on unverified sources.

Comments Reflect User Frustration

• Limited Support: Many hopes are pinned on Koinly’s official updates, with several urging others to upvote feedback requests to bring necessary changes.

• Manual Workarounds: Suggestions abound for entering fees directly, reflecting widespread dissatisfaction with the current system.

• Caution Against Scammers: Users are advised to remain vigilant against scam attempts, particularly those claiming to offer support.

Key Findings

• ◉ Users are frustrated—Koinly’s fee integration complicates tax reporting.

• ◉ Caution is advised; official support channels are necessary to avoid scams.

• ◉ Suggested workarounds include entering fees in separate fields, but users remain on the lookout for efficient bulk solutions.

This ongoing debate raises a crucial question for many—will Koinly adapt to meet user needs, or will people continue to struggle with the existing setup? As the push for clearer reporting features grows, only time will tell if substantial changes will be implemented.