Sometimes when you are using DeFi, transactions can do multiple things at once which makes them hard to reconcile.
In the same transaction, you might make a swap and then immediately stake it. Or swap and bridge. But because Awaken only allows one label per transaction, you might not know how to reconcile this.
This guide will walk you through how to handle these cases.
Splitting Complex DeFi Transactions
In order to split a transaction, follow these steps:
Open the transaction inside of Awaken
Scroll to the bottom of the transfers section
Click the "Split Transaction" button. This opens up a list of the transfers (Figure 1)
Select which transfers you'd like to create a new transaction for (Figure 2)
Example. If you swapped 1 SOL for 100 USDC and then sent/bridged 100 USDC, you'd want to select the sent 100 USDC.
Click "Create new transaction"
This will then open up a new tab with the transaction (Figure 3)
At this point, you will have two transactions. One which represents the initial swap of 1 SOL for USDC, and another that represents you sending the USDC. And you can label the first transaction as a Swap and the second transaction as a Bridge.
Figure 1:
Figure 2:
Figure 3:
Video walkthrough
Here is a little video walkthrough showing you how it works inside of Awaken, and how to adjust it if you'd like:
And that is it! As always, it is important to talk to a tax professional to understand the taxes affiliated with different DeFi transactions. And if you have any other non-tax related questions, you can email team@awaken.tax and we'd be happy to help.