In a bid to provide WOO X users with an intuitive end-to-end user experience, WOO Network has partnered with Koinly to allow traders to easily incorporate tax calculations and generate filing forms that follow their respective country’s tax authorities.
“We understand our users’ pain points and tax filing is one of them. Filing taxes can be tedious because every jurisdiction has its own set of rules, especially when calculating earnings from crypto trading. Traders will be able to generate their crypto tax statements easily by connecting their WOO X account to Koinly. These downloadable reports are already in a format that follows their respective tax authorities.” said Mitchell Nicholson from WOO Network Ecosystem.
Starting February 8th, traders on WOO X can easily connect to Koinly. Once connected, the API would identify taxable transactions (gains, losses, and income from trades on WOO X) and generate crypto tax reports that follow country-specific filing formats.
Nicholson said the partnership with Koinly comes at a perfect time as WOO X user base is growing and has more requirements for their new trading platforms. He noted that the partnership would come as a relief to many crypto investors as tax authorities worldwide pressure crypto traders to report their taxes accurately.
Jane McEvoy, Global Head of Partnerships at Koinly said that among the reports that can be generated from the Koinly API on WOO X, are the IRS Form 8949 & Schedule D, the ATO myTax Report, HMRC Capital Gains Summary.
“When the tax deadline comes around, all WOO X users need to do is download their crypto tax report from Koinly.” McEvoy said.
Koinly is a cryptocurrency calculator that supports investors in over 20 countries. Koinly integrates with 700+ exchanges, blockchains, and wallets to give investors an easy and accurate way to track their crypto transactions in one place. Koinly calculates the total capital gains and income a crypto trader has earned in any financial year.
To celebrate the partnership, Koinly is offering an exclusive discount to WOO X users when they sign up during the promotional period.
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