There are pros/cons to all of these sites and with varying fees & features.
This solution provides a simple starting point for a tool to export on-chain Algorand transactions to CSV files compatible with two of these crypto tax sites:ĬoinTracker has an excellent tax guide if you’d lke more details on the subject: Most of these sites support wallet scanning directly, but Algorand is still young, so direct on-chain scanning isn’t available yet. They can automatically sync with exchanges as well as on-chain activity from wallet addresses you provide. This is why there are so many sites which will track your crypto activity for you and provide tax reports, tracking the proper cost-basis across potentially hundreds or thousands of transactions. At least in the United States, every single transaction is effectively a taxable event and must be tracked appropriately. Unfortunately, it can be difficult to track your crypto transactions. Privacy chains or anonymization services can even trigger suspicion - just in their use. Because most chains are by design, completely public, there’s no hiding. For those in a region which treats crypto as a taxable asset, it’s not something to ignore. ”…in this world nothing can be said to be certain, except death and taxes.”Ĭryptocurrency taxation is certainly controversial, but for citizens in most countries, it’s an unavoidable part of citizenship.
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