There are multiple reasons why results might differ between different tax calculators as there are multiple complexities to consider when calculating taxes. It's important to understand why these differences arise so that you declare the correct amount of tax.
Important: Before comparing, make sure that the other tax calculator has localized support for your country. Divly specializes heavily in the countries we support and often has more customized settings than other tax calculators.
Below is a list of the most common reasons tax calculators differ in their results:
Importing Transactions: The user does not import all crypto transactions in both tax calculators. Or one of the the tax calculator's wallet integration is insufficient for your specific wallet/exchange.
Transactions Labels: Different crypto tax calculators may auto-label or import transactions slightly differently. The only way to compare results properly is by going through each transaction and comparing it side by side.
Pricing Cryptocurrencies: Different tax calculators use different pricing databases which means that sometimes crypto market prices may differ slightly on specific days (especially on days with large market volatility).
Country Specialization: Not all tax calculators are engineered for specific countries. Be wary whether the tax calculator you are comparing to has deep knowledge of your local tax system. At Divly we do extensive research before releasing specialized support for a new country.