A Receive transaction is when you receive cryptocurrency from an external source, such as incoming payments, gifts, or transfers. By default, receives are not treated as income. However, if you want Receive transactions to be treated as income, you can update your CoinTracker Tax settings by following the steps below.
Turn on/off income treatment of Receive transactions
- When signed in to CoinTracker, navigate to Account
- Then select Settings
- Select the Tax tab
- At the bottom of the page, you’ll see Treat receives as income—by default, it’s toggled “Off”
- Select Off > On
- A pop-up window will appear confirming you wish to treat receives as income—toggle the slider button (blue means it’s toggled “On”)
- Select Next
- Select Confirm & Save
If you wish to turn this feature off (default), you can easily do so by following the same steps listed above.