Just in time for the close of another fun-filled tax season, we are releasing new functionality that allows users to download their Abra transaction history from within the app.
Not only will this help with tax accounting, but the new transaction download will also help investors take a closer look at when they bought or sold various assets in the app, allowing for more precise cost-basis calculations.
The exportable transaction information is now available for all of the years that Abra has been in existence — and the files are downloadable by each calendar year.
This new transaction record functionality can be found right in the transaction history screen in the app — you should see a big button at the top of the screen that says “Export transaction history.”
Export your Abra transaction history in three easy steps:
- You can find the export transaction function on the transaction history screen (image left).
- After clicking the “export transaction history button” you will see an option to choose the year and input an email. (image center)
- The last step will be a confirmation screen showing that you have completed the request. (image right)
Stop on top of crypto gains (and losses)
As we have mentioned earlier, one common investment strategy is to average into the market by making regular investments over a long period of time.
While this is a great strategy and helps to insulate against major market movements, it also creates a long trail of crypto trades that need to be accounted for and calculated before determining profit and loss.
Now, those steps are made easy by exporting your transaction history. Once exported, your history will be emailed to the address that you will be prompted to enter.
One thing to note is that if you have more than one Abra wallet, you will have to go through the transaction export download for each wallet. (This is because of Abra’s non-custodial architecture.)
Crypto tax functionality
This transaction history update comes in time for tax deadlines in the US.
When you have exported and emailed the transaction history, it will arrive in your inbox as a CSV spreadsheet. This format allows you to perform your own calculations, and it is also compatible with cryptotrader.tax, and likely other tax account software in the future.
If you are looking for the new app transaction history functionality, but don’t see it yet, make sure you have the latest version of the app downloaded.