Electrum2KoinlyProblem:- When importing from Electrum, Koinly marks lightning channel opens/closes as sends/receives (you are being TRIPLE-TAXED on these!)
- Koinly ignores all lightning transactions when importing Electrum data from CSV since they have "zero" BTC balance change. This means these are not reported as they should be
- If you use auto-sync/import, Koinly only sees on-chain transactions
Solution (short-term):- This script takes your original CSV export and makes a new one without the lightning channel opens/closes. It marks lightning transactions as on-chain transactions so they are included as normal.
- 100% open source, lightweight and fast, look at the code yourself it's very small!
- 100% local only & private, your data is never sent anywhere
🚨 Note: The IRS has not issued guidance (as of Jan 1, 2026) as to how lightning channels are taxes for the purposes of gains/losses. This script is assuming that channel opens/closes are equivalent to transfers between your own wallets and that LN transactions are equivalent to normal on-chain sends/receives. Please consult a tax professional for advice.
Solution (long-term):😤 Tired of discriminatory tax treatment of BTC? You don't have to do this gains tracking nonsense with other international currencies.
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This python script will help you convert your exported transactions from Zeus (CSV) into the format Koinly needs. Python 3 is required to run this. It will run on Windows, Linux, and OS X.
