This Software Prefills Schedule 3 Documents For Crypto Tax Filings In Canada

May 3, 2023

Canada’s tax season is nearing its end and you still don’t know how much you owe based on your crypto activities. Let Koinly point you in the right direction. Try it for free now!

If you’re one of those people who own every crypto coin worth owning, but can’t be bothered to look up what a Schedule 3 document is, then this software solution is for you.

The Crypto Merchant has been assessing apps that it believes can help crypto bros like you in making better financial decisions. And its latest review focuses on Koinly, a tax software built specifically for crypto.

The tax season is nearing its end, so if you’re thinking of making a last-minute filing, The Crypto Merchant is giving you its green light.

Check it out at

Koinly is a tax software specifically designed for crypto transactions. It is capable of hundreds of integrations and recognizes almost all tokens from both mainstream and independent blockchains.

Its integrations with most major exchanges allow you to track your portfolio across those platforms and view income, gains, and even losses. This feature eliminates the need to log in to different accounts manually and offers you a complete picture of your total holdings across all platforms.

Moreover, different activities are also recognized by the software, which allows it to calculate your unrealized gains and losses due to lending, mining, staking, and selling of assets.

Furthermore, Koinly can generate Canada Revenue Agency-compliant reports, particularly pre-filled Schedule 3 forms, which are the main forms used for reporting capital gains and losses. The software can also generate reports compatible with tax preparation software like TurboTax.

In case you didn’t know, Canada’s tax season started in February and will end on April 30, 2023. If you’re self-employed, you have until June 15 to file.

While the actual act of reporting only happens once every year, keeping tabs on one’s crypto activities for taxable events is a daily activity. Koinly’s sophisticated capabilities ensure that you see the entire picture, allowing you to make better financial decisions year round.

Koinly has been rated highly on Trustpilot by more than 1,100 reviews, maintaining a score of 4.8.

Want to take it for a spin? You can try Koinly for free—that’s right, FREE—using this link:

Making sense of crypto taxes is no longer as painful as it used to now you have Koinly doing the heavy lifting. Just sign up and let it do its magic!

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