Is Koinly Accurate? How Reliable Is It for Crypto Taxes in 2026?
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Is Koinly accurate enough for crypto taxes in 2026?Accuracy is the single most important factor when choosing crypto tax software. A clean interface or low price means very little if the numbers are wrong — especially when tax authorities are involved.
So, how accurate is Koinly really?
In this article, we take an objective look at Koinly’s accuracy, where it performs well, where users need to be careful, and what you should realistically expect when using it for crypto tax reporting in 2026.
If you’re still evaluating Koinly overall, start with our main Koinly review. This guide focuses purely on accuracy and reliability.
What “Accuracy” Means in Crypto Tax Software
Before judging Koinly, it’s important to define accuracy properly.
Crypto tax software accuracy depends on:
- Correct transaction imports
- Proper classification of taxable vs non-taxable events
- Accurate cost basis calculations
- Correct handling of fees, transfers, and income
- Alignment with local tax rules
No crypto tax tool is 100% automatic in all situations. The real question is whether the software:
- Gets most transactions right automatically
- Clearly flags issues
- Allows manual correction where needed
Where Koinly Is Highly Accurate
Exchange Trades and Spot Transactions
For standard activity such as:
- Buying and selling crypto
- Trading on major exchanges
- Simple transfers between your own wallets
Koinly is very accurate.
API connections to large exchanges are stable, and transaction history is imported cleanly. Transfers between wallets are usually identified correctly, reducing the risk of double taxation.
For casual investors and standard traders, this covers the majority of activity.
Cost Basis Calculations
Koinly handles cost basis calculations reliably, including:
- FIFO, LIFO, and HIFO (depending on jurisdiction)
- Inclusion of transaction fees
- Proper disposal tracking
You can change accounting methods and immediately see how your tax liability changes, which is useful for planning and verification.
Staking, Mining, and Income Events
Income-based crypto events such as:
- Staking rewards
- Mining income
- Airdrops
are generally classified correctly by Koinly. These transactions are clearly marked, making it easier to review income totals before generating reports.
Where Accuracy Depends on User Review
DeFi Transactions
DeFi is where all crypto tax software struggles, not just Koinly.
Activities such as:
- Liquidity pools
- Token swaps
- Wrapped assets
- Bridging between chains
can generate multiple underlying transactions. Koinly handles many of these automatically, but complex DeFi activity often requires manual review.
The key point:
Koinly usually imports the data correctly — the user’s role is to verify classification, not reconstruct transactions from scratch.
NFTs and Advanced Use Cases
NFT minting, buying, selling, and transfers are supported, but edge cases can appear:
- Gas-heavy transactions
- Marketplace-specific behavior
- Cross-chain NFT activity
Again, Koinly provides visibility and structure, but advanced users should always review flagged items.
Common Reasons Users Think Koinly Is “Inaccurate”
In many cases, reported inaccuracies come from:
- Missing wallet connections
- Incomplete exchange histories
- Unreviewed DeFi transactions
- Incorrect assumptions about what counts as one transaction
Koinly usually flags these issues clearly, but it does not guess silently, which is actually a positive trait for tax software.
How to Maximize Accuracy in Koinly
To get the most accurate results:
- Import all wallets and exchanges
- Resolve warnings and flagged transactions
- Review DeFi and NFT activity carefully
- Confirm transfers are labeled correctly
- Preview reports before paying
This review process takes time, but it’s far less work than manual spreadsheets.
Is Koinly Accurate Enough for Accountants and Audits?
For most users, yes.
Koinly’s reports are:
- Clear
- Consistent
- Accountant-friendly
Many accountants are already familiar with Koinly exports, and the transaction audit trail makes it easier to explain calculations if questions arise.
For very complex portfolios or high-value cases, professional tax advice is still recommended — regardless of the software used.
Koinly Accuracy vs Other Crypto Tax Tools
Compared to other tools:
- Koinly performs very well for standard trading
- DeFi handling is competitive with leading platforms
- Transparency is better than tools that silently auto-adjust data
Accuracy improves significantly when users actively review flagged transactions rather than relying on full automation.
Final Verdict: Is Koinly Accurate?
Koinly is highly accurate for standard crypto activity and reliably structured for more complex use cases, provided users review their data properly.
It is not a “set it and forget it” solution for heavy DeFi users, but it offers one of the best balances between automation, transparency, and control available today.
If you want to reduce errors, save time, and maintain visibility into your tax calculations, Koinly is a strong and reliable choice.
You can start using Koinly for free, import your data, and verify accuracy before deciding whether paid tax reports are necessary.
Want the Full Context?
For a broader evaluation of pricing, features, and who Koinly is best for, read our full Koinly review or see our detailed Koinly pricing guide.