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Do I need to import all of my transactions?
Do I need to import all of my transactions?


Carl Gärdsell avatar
Written by Carl Gärdsell
Updated over a week ago

It is crucial to add ALL of your crypto transactions from the very beginning if you want Divly to calculate your taxes correctly. Do your best to ensure that your complete transaction history is imported into Divly before declaring your taxes.

Why does it matter?

Divly needs access to your first transactions in order to calculate the correct cost basis (your acquisition cost). The cost basis is calculated using every historical purchase of crypto that you ever made.

But I never sold anything before last year?

Even if you are only declaring taxes for the most recent year, you still need to include transactions from all prior tax years. Otherwise we wont be able to calculate the correct profit or loss. This can be demonstrated with an example:

Tax example:

Sam Brokeman purchased 1 ETH for $40 in 2019. He then sold 1 ETH for $100 in 2022. If Sam imports all of his transactions, then his profit will be $60.

Multiple wallets from the same provider

If the purchase from 2019 was not imported, then Divly would have to assume a purchase price of $0. This would mean the profits would be $100 - $0 = $100.

More profits means more taxes!

It benefits Sam to import all of his transactions to lower his profits and taxable gains.

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