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So you traded some crypto, cashed out some gains, and now the local tax authority wants a cut of your lambo money. The painful torment of correctly assembling the tax report haunts your weekends. We know how brutal and stressful it can feel. Divly can do the grunt work for you, so don't let taxes keep you awake at night!?
1. Use our integrations to import and organize all your crypto transactions in Divly
2. We calculate your gains and show you if there are any issues to resolve
3. Download your tax report and submit it to your local tax agency
Do I need to pay taxes on crypto during 2021?
How do cryptocurrency taxes work?
In most countries, crypto typically incurs capital gains tax. This means you need to pay taxes on the difference between what you bought crypto for and what you sold it for (minus fees). If you received crypto through other methods (e.g. salary), methods like income tax will apply.
Can I avoid paying taxes on crypto?
It is a criminal offense to not pay your taxes. It is also difficult to avoid since crypto transactions are recorded publically on the blockchain and exchanges have been forced to hand over information to local tax authorities.
Do I need to file taxes if I lost money?
Yes you need to file a tax report even if you lost money. The good news is that by filing your losses you may be able to reduce your taxes.
Are crypto to crypto trades taxed?
In many countries yes! This is where tax reporting gets more difficult as you need to be able to account for the value of different cryptocurrencies in your local currency for every trade. Divly can take care of this automatically for you.
Is it safe to share my transactions with Divly?
Divly is a premium service to help people calculate and submit their crypto taxes. We use industry standard practices to secure your data. We do not sell your information to third parties such as other companies or government agencies. We do not perform any KYC. Divly only requires an email address and your pseudonymous crypto transactions to generate your taxes. Feel free to use a temporary email / protonmail. You can also delete all your transactions and synched wallets at any time.