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Do I need to account for coin transfers from one exchange to another?
Do I need to account for coin transfers from one exchange to another?

How to deal with exchange transfers

David Kemmerer avatar
Written by David Kemmerer
Updated over a week ago

No. You should not separately enter your transfers from exchanges into the software.

The application keeps a running count of how much of a certain coin you own at any given time, so transfers are not needed to show that you moved a coin from one place to another.

When importing from supported exchanges, transfers are automatically detected by our system whether you import through file or API. For some supported exchanges, when transfers are detected they are displayed as Deposit or Withdrawal transactions.

These are treated as non-taxable self-transfers and they are not included in your capital gain/loss calculations nor crypto income calculations. Deposit and Withdrawal transfers are displayed to help present the full picture of how you transacted with a certain asset.

In some cases a transaction is imported as a non-taxable Deposit or a Withdrawal transaction, though it may represent a taxable event such as receiving crypto income or disposal. If this is the case, please review our guide that explains how to accurately classify those transactions.

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