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Topic: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies - page 27. (Read 122619 times)

newbie
Activity: 8
Merit: 1
Is there anyone on this thread that would be willing to help me get to the bottom of my USDT problem and have a chat on telegram, WhatsApp or anything and I would pay you for your time?
newbie
Activity: 8
Merit: 1
@danjacksonuk
We offer some support here and individually via Ticket or E-Mail ([email protected]) where you need to mention your user name.
Everything is described here: Happy to help - Support process and contact options for CoinTracking (https://cointracking.freshdesk.com/a/solutions/articles/29000031016/en)
You can check the full service (https://cointracking.info/full_service.php) here if this would help.

Regarding your scenarios. Actually I am not sure I get you here. So I explain again in general.
The FIAT deposit does not matter at all regarding gain calculation. Only if you trade those against crypto and crypto2crypto and back FIAT2crypto.
And if you get paid in crypto you have an income transaction which has a cost base (asset value at the time you get it) as well.
Keep in mind that USDT is a coin as well and not FIAT.
Realized gain is calculated when you really sold coins (with the calculated explained in my last post). Unrealized gain is related to your holdings which you have not sold yet.


Hi

I know you offer support but understandably it is pretty slow and I've been trying to get my head around all  this all weekend. You've been fast on her to be fair but we still haven't resolved it and this is why I am willing to pay extra towards getting set up.
I have actually already checked out the full service, I have enquired about it but that's for help with finding errors etc when I do the import. I just want to be able to understand the software before I make the plunge.

Quote
The FIAT deposit does not matter at all regarding gain calculation

Yeah I get that the deposit doesn't matter in terms of gain calculation. I know your system is mostly aimed towards people trading crypto who want tax calculations. That isn't my priority, I want somewhere I can track my portfolio balances and see average purchase prices and realised and unrealised gains. That is what had drawn me to your software.

Quote
Only if you trade those against crypto and crypto2crypto and back FIAT2crypto.

This is the problem. I just dont understand what this means and in what context.

Quote
Keep in mind that USDT is a coin as well and not FIAT.
Realized gain is calculated when you really sold coins (with the calculated explained in my last post). Unrealized gain is related to your holdings which you have not sold yet.

I know USDT is a crypto coin but basically it needs to function as one in a software like because that's how people enter into crypto. I completely understand what realised and unrealised gains are the example you gave is right and i agree. I have absolutely no problem with the ETH test transaction. I bought 4ETH for $8k. and sold 2Eth for $10k. $2k each ETH so when sold for $10k that is $6k realised gains and the remaining 2 ETH are unrealised gains from there current value.

My issue is only with USDT. That's all I need to get to the bottom of. In both scenarios of adding a deposit or not the USDT values are all over the place.

newbie
Activity: 20
Merit: 1
I am receiving the following error in Cointracking with automatic API inport for Gemini Exchange:

 (Error: Unsupported trade type: {"type":"AdminDebit","status":"Complete","timestampms":1612994178257,"eid":22593668290,"currency":"EUR",)

to be clear - I already deleted the failing API and created a new one, but the same error occurs.
member
Activity: 864
Merit: 52
@danjacksonuk
We offer some support here and individually via Ticket or E-Mail ([email protected]) where you need to mention your user name.
Everything is described here: Happy to help - Support process and contact options for CoinTracking (https://cointracking.freshdesk.com/a/solutions/articles/29000031016/en)
You can check the full service (https://cointracking.info/full_service.php) here if this would help.

Regarding your scenarios. Actually I am not sure I get you here. So I explain again in general.
The FIAT deposit does not matter at all regarding gain calculation. Only if you trade those against crypto and crypto2crypto and back FIAT2crypto.
And if you get paid in crypto you have an income transaction which has a cost base (asset value at the time you get it) as well.
Keep in mind that USDT is a coin as well and not FIAT.
Realized gain is calculated when you really sold coins (with the calculated explained in my last post). Unrealized gain is related to your holdings which you have not sold yet.
newbie
Activity: 8
Merit: 1
@danjacksonuk

Good ideas, thank you. There is a German Telegram group is already available. Feel free to create a group in English and paste the link to get in here.

We do our best to answer all questions appear in reasonable time.

Regarding your topic. We do not recommend to track FIAT deposits and withdrawals at all. It is described here: Different ways of managing your portfolio (https://cointracking.freshdesk.com/a/solutions/articles/29000018265/en)
The calculation of the gain is always sell value minus buy value. You spend "just" 8k and not 10k so far according your example.
Buy value of 4000 USD (2 ETH * 2000 USD - the ones left does not matter --> listed under "unrealized gain" as you did not sell them so far) minus 10000 USD (2 ETH * 5000 USD) which leads to 6000 USD gain (10000-4000). And you have your 2 ETH left which you have not sold yet.
See How does the CoinTracking purchase pool work? (https://cointracking.freshdesk.com/a/solutions/articles/29000031793?lang=en)


Hi Andreas

Thankyou for the reply. I had actually already read both of them articles but to me this all seems really back to front and I just don't understand it. Surely you could build it in a way that if a deposit is made it would not include that in the average price and realised/unrealised gains calculations.

The $6000 gain you mentioned is completely right for ETH. I don't have an issue with that its only with the USDT coin.

For me both scenarios from the first link have flaws.

Scenario 1 -
Add deposit of $10,000. Positives are that in the summary section the correct amount of USDT and ETH show after the test trades. 2 ETH current value and $12k USDT ($10k deposit and the $2k profit)
Average Purchase price page I think is showing incorrectly. It shows my $2k coins in profit and that i paid $2k for them. I didn't pay anything for them because its profit so the figure should be minus. On the realised gains page it shows as -$8000 unrealised and +$8000 realised. This doesn't make any sense so as far as I can see. The only positive being that the summary shows the correct amounts I have.

Scenario 2 -
No Deposit and purchase of ETH is just done with a trade for USDT.
First negative is that the summary sections only shows profits of USDT and not the whole amount I currently have in USDT.
The same as the first scenario, on the realised and unrealised page USDT shows as -$8000 unrealised and +$8000 realised and in the average price paid it is still showing the $2000 total and price paid is $1 each. Don't understand how if its profit.

I am a newly paid subscriber but i do feel like if i can get it right your service is actually undervalued. And because of that I am willing to pay someone from your company to help me get started. I cant wait for the slow back to back messages and would maybe need to find a different service and request a refund which i obviously don't want to do. I just want to get this done so I can focus on my trading. I love the look of the cryptosheets add on so I feel like I'm in the right place.



member
Activity: 864
Merit: 52
@danjacksonuk

Good ideas, thank you. There is a German Telegram group is already available. Feel free to create a group in English and paste the link to get in here.

We do our best to answer all questions appear in reasonable time.

Regarding your topic. We do not recommend to track FIAT deposits and withdrawals at all. It is described here: Different ways of managing your portfolio (https://cointracking.freshdesk.com/a/solutions/articles/29000018265/en)
The calculation of the gain is always sell value minus buy value. You spend "just" 8k and not 10k so far according your example.
Buy value of 4000 USD (2 ETH * 2000 USD - the ones left does not matter --> listed under "unrealized gain" as you did not sell them so far) minus 10000 USD (2 ETH * 5000 USD) which leads to 6000 USD gain (10000-4000). And you have your 2 ETH left which you have not sold yet.
See How does the CoinTracking purchase pool work? (https://cointracking.freshdesk.com/a/solutions/articles/29000031793?lang=en)
newbie
Activity: 8
Merit: 1
Hello everyone. New user here. How active is this forum?

After scanning through the first 20 pages it seems that the posts mostly involve everyone posting their problems and looking for fixes from the developers rather than a community helping each other. Would be great if they could create a telegram or Facebook group so we can all interact. Support is slow which is understandable as during a bull run i imagine they have lots of new customers. I want to learn some basics and I'm pretty sure there will be some experienced members in the community that could help quicker than admin.

Before i make the jump to a full api import i have been playing around with the software and running some test transactions and i cant seem to figure out how i insert deposit of fiat into the system. in my random test transactions, I added $10k into the account as a deposit, bought 4 eth for $2k each and sold 2 eth for $5000 each. So now in this scenario i bought 4 eth for 8k and have 2k usdt left over, sold 2 for 10k leaving me with 2 eth and 12k usdt.

For some reason in realised/unrealised gains i have a unrealised gains/loss of $8k for usdt and a realised gain of $8k. I have absolutely no idea why this is like this. I've read all the guides and messaged support but its just so slow.

Can anyone help?

ps. I hope all the original users of cointracking from 2013-2018 are sipping drinks from their yacht. What a time you all got into crypto!!
jr. member
Activity: 560
Merit: 4
Hello. I like this topic and i think i can learn so much here. Appreciated
member
Activity: 864
Merit: 52
Updates and Improvements
- New CSV Import: Swissborg

- OKEX CSV import now supports the new file format
- Trezor CSV import now supports the new file format
- Crypto.com CSV import update (new transaction types)
- Nexo CSV import update (new transaction types)
- Bitcoin Suisse CSV import update (support for multiple formats)

- Kucoin API import update (support for Kucoin v2 API Keys - all v1 API Keys will be deactivated by Kucoin on 1 May 2021!)

- Binance API import update (fix for ratelimit errors)
- Bitfinex API import update (import of airdrops + profit/loss updates)
- Bitpanda API import update (import of ICOs)
- Indodax API import update (fix for ratelimit errors)
- Bittrex API import update (fix for withdrawals)

- Binance Smart Chain Import Update

- Airdrops and rewards can now be excluded from the capital gains calculation
- FBAR Report adjustments in the tax reports
member
Activity: 864
Merit: 52
Correct, only in CSP mode search is working.
You need to use the "advanced search mode" here - on Top above your transactions on the right.
Details are shown in the "Enter Coins" Page when you click on "CSP Mode" below your transaction list there.
newbie
Activity: 1
Merit: 0
In Enter Coins, the regex filters don't seem to work if you are in Server Side Processing mode. They only seem to work if you are using Client Side. Is there a fix for this?
member
Activity: 864
Merit: 52
There is nothing to do regarding green lines. Only white entries need to be checked as described in the FAQ. Just focus on them.
And yes they are green as they are detected as counterpart transaction - a deposit must always have a counterpart withdrawal in your portfolio. Otherwise it is the wrong transaction type or the counterpart is just missing as transaction.
newbie
Activity: 24
Merit: 1
Hi,

I wonder if you can help me with the Missing Transactions report. I don't understand some of the basics of how this report works.

I've read the article on the Support page:
https://cointracking.freshdesk.com/en/support/solutions/articles/29000033710
I've read the FAQ on https://cointracking.info/missing_transactions.php
I've searched for "missing" in this forum.

Before I understand White transactions, I think I need to understand Green transactions.
For a Green transaction, is this table showing *pairs* of rows that have been matched up? If so how do I know which 2 rows are a linked pair?
I assume the table should be sorted by date? Is the goal to not have any data in this table? Or is the goal to have all transactions appearing in green, where a withdrawal matches a deposit?
For instance I have the following 2 green transactions. Are they green because they have matched with each other? (I have remove the Comment and TradeID)

Deposit   141.20800000   1INCH         496.35098647   BSC Transaction         2021-04-20 17:57:28   100.0000% (High)

Withdrawal   -141.26000000   1INCH   0.05200000   1INCH   496.53376827   Binance      2021-04-20 17:56:52   100.0000% (High)


Is this telling me there is problem that I need to fix? Or is it saying it is green and so there is nothing to be done?

member
Activity: 864
Merit: 52
Great to read that. You are welcome.
newbie
Activity: 11
Merit: 1
Another idea would be to edit the asset value of your transactions manually and set it to 0,00000001 (could not be 0).

Omg, that's it!
I sear I've tried to enter a near-zero value before and it didn't save. But it does seem to save if the fractional part has no more than 8 digits. *self-facepalm*
It works wonderfully now (both in the Cointracking tables and the tax reports) without any workarounds I might forget in a year.  Cheesy


Thanks a bunch for all the help, much appreciated! ♡
member
Activity: 864
Merit: 52
@scatterbug
okay, just stick to income transactions instead of margin PnL as there is a different group then those several income transaction types.

Reset to default values creating tax report is on purpose.

Another idea would be to edit the asset value of your transactions manually and set it to 0,00000001 (could not be 0).
newbie
Activity: 11
Merit: 1
@scatterbug
Okay. So in that case I suggest to use a separate transaction type which you do not use somewhere else e.g. minting. And then set this income transaction type slider to middle state (there are some of them which are all listed on the income report just with a different transaction type). 

Gotcha, that is what I've been doing in the meantime.
I just thought there is an "official" way to do it, so to speak.^^
At the moment I'm using "Other Income" and set that to a zero cost basis.

The problem with the other income types (as you've mentioned) is that they add additional transactions or make further changes that are not desired.
E.g. when choosing "Minting" or "Masternode" and setting that to 0 cost basis, then it also sets the proceeds to 0.
When choosing "Derivatives" or "Margin Profit", then in addition to adding the gift-sale with 0-cost (which is the desired outcome) it also adds the gift-transaction itself as another sale with 0-cost and 0-proceeds.
That would be fine as well, as they come out as a zero gain/loss, but I don't like having them listed on the tax report when there was no actual additional sale.

It seems the only way to have a 0 cost basis gift-sale be added correctly is by adding it as "Other Income" and setting that transaction-type to 0 cost basis.
Which works fine at the moment, but if I ever have "Other Income" that shouldn't be calculated at 0-cost, then I can't properly record that without influencing the 0-cost gift-sales.

Another (though less problematic) thing is that the filter of the tax generation screen doesn't seem to save the filter settings, so one always has to remember to set "Other Income" to 0 cost basis.
Because of that and the other problems, it would be super helpful if there was a way to mark individual transactions with a 0 cost basis.
Or alternatively to let us set the group-sliders to 0 cost basis as well.
Maybe for a future update?  Grin
member
Activity: 864
Merit: 52
We would need specific wallets here to comment on that. I would suggest to raise ticket with account name and the wallet address here.
newbie
Activity: 24
Merit: 1
ah sorry - I didn't appreciate that your CTRL+SHIFT comment was about CT and not Excel - ok that makes things easier  Smiley

CT shows my deposits into the vaults, and the vault tokens, but not the interest being earned. Maybe the interest isn't being posted onto the blockchain, but just at the sites, until I do a withdrawal (?)
member
Activity: 864
Merit: 52
BSC: they should come in via BSC API import.
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