Effortlessly calculate your localbitcoins taxes and generate the appropriate tax documents to send to your tax agency. Koinly completely supports LocalBitcoins and makes tax reporting a piece of cake.
The first step is to download all your data from localbitcoins and upload them into Koinly. There are a couple of ways you can do this:
As LocalBitcoins has an API, the most efficient way to import everything is to simply connect your API keys (api key, api secret). After that Koinly will sync all your transaction data and you are ready to create your tax document.
If you don't have access to your API keys you can also import transactions by importing CSV files.
If you only have a few transactions and the above method(s) are not possible for you, you can even add the transactions one by one through Koinly's web interface.
Note that if you decide to import CSV files, you must make sure to import your deposits/withdrawals and trades for ALL years and not just the current one!
That's it. The only other thing to keep in mind is to tag your airdrops/forks so they appear as Income on your generated crypto tax documents!
Follow these steps to get your API keys:
Only deposits/withdrawals in the last 30 days can be synced via the API. If you have older transactions you will need to add them manually or upload via CSV.
Follow these steps to download your transaction files:
Localbitcoin files sometimes contain duplicate/incorrect data so you should review all imported transactions manually afterwards and delete transactions that are duplicates. If you have issues, contact support who will help you with this.
Try it free. No credit card required. Instant tax reports.