• Koinly revealed they added wallet support for (LUNA), to assist LUNA users.
• The LUNA integration makes it simple for users to track and record transactions accurately.
• Currently, LUNA’s price is $88.39

Koinly, a platform for crypto tax calculations, announced that Terra (LUNA), wallet support has been added to aid LUNA customers as the Canadian tax deadline approaches.

Tony Dhanjal from Koinly was the head of tax and stated that many Koinly users had requested LUNA support. Users will be able to track their transactions accurately and keep them recorded in order to comply with tax obligations thanks to the LUNA integration.

If your crypto assets are straightforward, it’s usually relatively simple to calculate cryptocurrency taxes. Dhanjal however stated that an individual may have between three and five wallets or Blockchains. This can make the calculation of crypto taxes more complicated.

There is a high chance of making an error. This is why it’s recommended that people use a good crypto calculation tool.

Dhanjal also stressed how crucial it was to pay not just crypto taxes, but all other taxes that an individual might be subject to.

Dhanjal explained that “ignorance is not a valid excuse, and there could be a fine line between this and tax evasion, which is illegal. The penalties for tax evasion can be severe, not to mention the reputational and other damage to your business this could cause.”

Thomas Shea, a crypto tax expert, reminds the public that purchasing crypto using fiat money is not an taxable transaction. This is also true for purchasing non-fungible tokens, NFTs.

The price of LUNA dropped 7.57% in the past 24 hours. The price of LUNA is now $88.39

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