Topic: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies - page 25. (Read 122389 times)

@lifeiscrypto
@elwon20
Please send us a ticket or E-Mail to [email protected] with your username and description to check your accounts.

A fee that is part of a trade gets added to the buy or sell amount of the trade and is therefore already part of the cost base. These fees are also displayed in the fee field, which in turn feeds the Trading Fees page. The fee field does not reduce the purchase pool. Most countries do not allow to deduct these fees as they are already part of the cost base and therefore they are not listed in the tax report. Should you be allowed to deduct them, please get the total from the trading fees page (https://cointracking.info/fees.php) and do so manually.

In the case that the fee is in a different currency than the two coins traded or the fee for a withdrawal is in a different coin than the coin sent, these fees can not be included in the transaction and therefore an additional transaction is necessary to reduce the purchase pool. These "third currency coin fees" are imported as "other fee" and then in turn listed in the fee report of the tax report, because they are legal to be deducted from the capital gains.

Hi, this issue is still ongoing for me 😞

Hi,

Is this still true? https://cointracking.freshdesk.com/en/support/solutions/articles/29000018276-missing-fees-in-the-tax-report

I noticed a difference on this since I did my tax reports on 2019 and now, I see now as part of report a summary of all the fees.

@Nerome
We are focused in the Top15 blockchains first.

@asdsvsdf
not all crypto income is taxed the same way therefore we do not upload the income report as a whole. Please enter your income manually in the respective section of the tax form. You find them on the income report as part of your tax report.

in the Tax reports I know you can export trade data in Turbotax format. Does this include the income reports too (i.e. staking income, gifts, etc)? if not, how would I import this data into Turbotax if I had a lot of staking income transactions?

i.e. lets say I have ten staking income transactions for 100 FOO (fake coin for this example) each. I immediately sell FOO on income for USDC after every staking income transaction. As such, I have capital gains records in the TurboTax file for the trade, but is the income of 1000 FOO in total included in the Turbotax export too? If not, how do I report this income on my taxes/import the income specific transactions into Turbotax?

Hey there, is there any plan to add Fantom (FTM) network to blockchain support?
https://ftmscan.com/

@danjacksonuk
thank you for the design input. I will share this with our team.
@asdsvsdf
All transactions before midnight are included in the date filter setting.

thank you for confirming this!!!

for any lurkers, I fixed my issues by basically going tx by tx on etherscan and comparing the 'State' tab on each transaction with my logs. This is much clearer to reason about so I recommend this if anyone else has balance issues

and of course thanks Andreas for the solutions and timing answer. Re: your quote about the cutoff time being midnight, this is 00:00:00 relative to entered trades?

Hi Andreas

I love doing graphic design work for fun. Done a little modernisation of the site. Have a look here. Best tracking site out there but is definitely dated design. Here is my design, not much different from what's already live

https://dl.dropboxusercontent.com/s/yz02pe802mylenj/CoinTracking%20SIte.jpg

@elwon20 and all
This is a mistake from our end. We will remove those duplicates automatically by tomorrow latest. So there is nothing to do here from your end.
Sorry for the inconvenience this causes.

Woke up this morning and my Bitfinex balance was way off.

Deleted all Bitfinex transactions and re-imported them. Same thing.

Noticed the 'API v2' message for margin trades (which I have used in the past) and checked that box, deleted all transactions and re-imported them again... still way off.

Did something change recently?

I only notice this on exports, but not on backups.
I.e. when I enter a custom cost basis (be it for listed or unlisted coins) and make a backup, then restoring from that backup also restores the cost basis.

I have a few transactions with custom values myself, so I made sure the backups restore those values.
But just to be safe I rechecked just now to confirm:
- Added a trade to buy 23 YYY (unlisted coin) for 42 USD
- Entered a custom YYY buy value of 8.15 USD
- Saved a backup
- Deleted all trades
- Restored from backup
-> Custom value of 8.15 USD was also restored.

1) The time is midnight from the day before. So if you add 1/1/2021 you get midnight 31/12/2020.
2) You can just compare transactions here e.g. using missing transaction report. https://cointracking.info/missing_transactions.php You can try using our new ETH importer instead which is beta state (https://cointracking.info/import/eth_address_new/)
3) backup - we have this on our improvement list. For now if you restore those the custom prices have to be added manually like the API connections.
Possibly this would help: Exchange closed or missing data due to wallet inaccessibility (https://cointracking.freshdesk.com/a/solutions/articles/29000034626?lang=en)

Thanks for the advice. I have a few other, unrelated questions

1) On the 'Balance by exchange' page you can filter by date but not time. What time is this date based on? Can you add documentation for this and let me know? I critically need this info to help me figure out the solution to my next issue as I am effectively going block by block between transactions to try to figure out where the discrepancy is. If I could filter by time AS WELL AS date this would be trivial to solve, but since I can't and it's unclear when the filter is based on time wise I have no idea how to properly compare CoinTracking and the Ethereum blockchain here

2) I have a new wallet/exchange entry for this year and have been trading a ton in it. I am now noticing a discrepancy in one coin (ETH) for a total that I cannot find in any of my logs so this must be coming from some miscalculations across trades. Is there any way for me to easily debug this? It's really hard for me to narrow down, ideally i'd like to try importing from Etherscan but the blockchain import is automatic/api based and I DON'T want to import, I simply want to compare against what I have. Additionally Cointracking has no way to import from CSV on Etherscan.

What do you suggest I do to narrow this down? If I could customize the time for the filter on the balance by exchange page this would be easy with the block balance explorer on etherscan.

Additionally I don't want to mess with backups or exports because I've noticed (and this is a big issue, please include this as a fix) the manual cost basis for unlisted tokens is not saved between backups or exports and as such my trades are completely messed up if i restore (since I then need to go back and readd every single cost basis for every tx with an unlisted token)

In the absolute worst case perhaps I could add a LOST transaction to balance this out manually (which should theoretically be fine since CoinTracking is inflating my total, meaning there should be no issues with taxes for doing this) but I'd rather have things balance out naturally as they should

@Plenty
We are working on it. Thank you for your patience. For now add those transactions manually.

@asdsvsdf
Sounds feasible how to add it. We recommend to consult a CPA here.

If you sell some NFT (as we assume NFTs are crypto currencies) and get another currency for it it is a normal trade. The asset value for the NFT is the asset value of the crypto currency you get.

We suggest to use trade/groups and comments for NFT name details and use abbreviations for the tickers.

You just need to add a current price and add the transaction manually if they are not imported via ETH/BSC API. See https://cointracking.freshdesk.com/a/solutions/articles/29000007203-entering-ico-coins-and-non-listed-assets/en

how can I best track ERC721/NFT transactions and ownership? This is becoming more and more important now that Uniswap has liquidity pool positions as NFTs rather than ERC-20 tokens since they are now becoming more utility based and have actual value (not that crypto art doesn't but this is much more in the air in terms of valuation, whereas now these LP positions have defined value and also generate cashflow via fees)

As an example, when migrating Uniswap V2 LP tokens (which themselves are created by adding equal value proportions of two currencies) to V3 LP NFTs, you exchange the V2 tokens for the V3 NFT AND receive some of your original capital back. How exactly would I enter this in Cointracking, as it's an ETH exchange fee, swapping tokens for an NFT, and receiving my capital back? perhaps it's two trades and an other fee, where the two trades are [the proportion of my V2 tokens kept for the V3 NFT -> the V3 NFT] and [the proportion of my V2 tokens equal to my returned capital -> my returned capital] and the third entry is 'other fee' for the eth fee?

additionally, i have generated some profit reselling crypto art and am unsure the best way to track this given the wide range of unique tokens and addresses for each NFT (is this a trade? is this a spend + an income? it's super unclear and the limit of 8 characters for token names makes this really hard)

lastly, is there a way for me to import a custom coin with a contract address? would be much simpler for organization given NFTs and other new coins I am trading with that are not yet added on cointracking.info

I SPOKE WITH GEMINI: THEY SAID THE FOLLOWING:
"We now support Admin Credits and Admin Debits in our transfers endpoint but CoinTracking may not have added support for it."
THIS IS WHY MY GEMINI API KEY DOESN'T WORK WITH COINTRACKING!
please add support for it.

@danjacksonuk
No, as Binance does unfortunately not offer PnL data for cross margin trades (like all other margin trades)
@scatterbug
thank you for helping here sharing your knowledge and experience.

@theratears
I use "Balance by Exchange" and make sure everything matches there.
If not then I at least know to look at the transactions of the specific exchanges where it doesn't match.

And for running totals you can use "Daily Balance".
You can set it to "Daily" and then see how many coins per cryptocurrency you had each day (the third number per entry).
This way you can see when your total amount of a specific cryptocurrency started not matching.

What are the best methods for finding issues with the wrong totals being displayed on the dashboard. For example i have more ETH being displayed than i actually have in all my wallets, i've checked duplicate transactions as well as listing all coins by exchange and trying to work out if there is a transaction that hasnt been imported. What other methods does everyone use to try and find totals that dont match. Is there a way to see a running total of each coin to work out when it may have started not matching what i physically own?