Just completed my 2021/22 crypto tax accounts using Koinly. Would have been impossible without using Koinly, mainly because the many transactions I made in and out of Beefy Finance liquidity pools were complicated. The bridge transactions I made within Metamask from the Binance Smart Chain to the Fantom Chain and back again also added to the complexity.
Koinly provides tools for error checking that enable the user to inspect the detail behind larger gains or losses to ensure that the data is accurate and to ensure that the end of year balance for each token as reported by Koinly matches the end of year token balances in my various wallets.
Besides the liquidity pools, I also mined BTC and invested via Nexo. However, from a tax accounting perspecticve the BTC mining transactions were very simple, as were the Nexo reward transactions. Hence, checking these items using Koinly was very simple.
One tricky factor to deal with is the fact that FTX treats USDC and a few other USD stable coins as USD only. However, when doing FTX transactions that involve importing or exporting USDC, for example, the FTX API interface to Koinly does not report the distinction between USD and USDC ... which confuses Koinly. However, there is an easy workaround to this issue, but it does require the user to add a manual transaction to Koinly for each FTX USD vs USDC transaction.
Koinly does take a little while to learn how to use, but once mastered is easy to use.
