Topic: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies - page 28. (Read 122743 times)

@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).

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? 

We would need specific wallets here to comment on that. I would suggest to raise ticket with account name and the wallet address here.

ah sorry - I didn't appreciate that your CTRL+SHIFT comment was about CT and not Excel - ok that makes things easier 

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 (?)

BSC: they should come in via BSC API import.

Bulk delete by date range and by exchange is possible. But not via transaction type or something in addition.
In this case you need to filter (search) for them on "enter coins" page and select them with CTRL+SHIFT and delete them there.

I earn interest on BSC at Vaults at AutoFarm.Network and at Beefy.Finance, and these are not included in CT.
Do I need to add these manually?

If the answer is "yes", is there a way I can filter out Interest Income from the Binance API?
Then I can just upload all Interest Income manually rather than having to go through multiple steps of backup, exporting, deleting etc

actually that won't quite work, because CT won't let me bulk delete for a given date range (I assume), so I'll need to do all transactions for the Exchange in Excel, not just the ones in a date range

Yes, sounds good.

Yep - I don't need any guidance the basics of Excel   

So Steps 4 & 5 are:
4. Delete *All Transactions* from CT for the Exchange that contains Interest Income
5. Using the CoinTracking Excel Import template:
- combine Interest payments for the date range and for the Exchange
- upload *all transactions* for the date range and for the Exchange (but now with combined Interest Income, rather than granular Interest Income)

Yes exactly.
There is no "one go" here. Just manual way via Excel und set start date to prevent re-import.
Bulk Deletion is not possible for one coin, just for a whole exchange. You can do this via Filter and select those transactions with CTRL+SHIFT to delete those.

So just to be clear on the steps:
1. Backup!
2. Edit Binance.com API in CT to modify Start Date
3. Export using the Trade List - so that I can combine all Interest Income in Excel
4. Delete Interest Income transactions from CT
Is there a way I can do this in one go?
Can I delete all Interest Income just for a specific coin/currency?
5. Use the CoinTracking Excel Import template to combine Interest payments, and upload this

@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). 

Oooooh that makes so much sense! I never had a use for trade groups before, so after a while I filtered them out of my mind.^^
Thank you so much for that hint!

EDIT:
@Andreas_CoinTracking
I spoke to soon. :\
When I add a trade group, then I can only toggle them on/off in the filter of the tax reporter, but I can't put them into the half-state so that they are calculated with a 0 cost basis.
It seems that is only possible for all the pre-defined incoming and outgoing transaction types, but not for the user-defined exchanges or groups.
How exactly do I switch specific transactions (or groups) to 0 cost basis?

@dr1ver
Thank you for letting us know.
When I search for "CoinTracking Forum" I find German Forum "blocktrainer" and of course our web page cointracking.info beside one competitor and on #5 it starts with the Forum you mention.

We have everything listed here https://cointracking.info/feedback.php
And here we post our new features and fixes https://cointracking.info/new_features.php
We have a blog here https://blog.cointracking.info/
And we are on facebook and twitter of course. Every post will reach us.

We appreciate your feedback and will looking for opportunities to improve here.

@Andreas: Thanks for taking that forwards with the team

FYI If I google: "CoinTracking Forum", the 1st 2 results are a forum for CoinTracker, not CoinTracking. And it seems that some people are posting in the CoinTracker forum unwittingly thinking they are posting in the CoinTracking Forum (and I seem them wondering why they are not getting the right response -there are some fairly lengthy discussions in there!)

Given how many users CoinTracking has, and the size of your team, it is odd at the very least that your main user forum is 96 pages deep in a sub-forum inside a general bitcoin forum. If I click back to page 1, those posts are from 2013!
Given the number of users you have, engagement seems very low compared to other sites - unless I'm missing something, and you have more structured user engagement somewhere else (e.g. Discord channels?). It is possible that you actually have more people discussing your product at CoinTracker! Low user engagement leads to design & development not aligning with the priorities of your users, which makes you more vulnerable to competition.

Is there somewhere else I should be posting? If not, do you have plans to change how you engage with users?

Typical functionality includes:
- Announcements
- Bugs: Open/Closed
- As a user, allow me to easily search for something that other people have already discussed, to avoid the same discussions repeating themselves
- New Feature requests, including voting
- Status of new feature requests
- Ability to pin important posts
etc etc

@dr1ver
Thank you for your suggestions. It is not available yet, but we will discuss that.

@scatterbug
Yes, you can do so. Just use trade groups. When you would use separate trade groups and assign those to each "type" 1. or 2. and set e.g. on gains page (on tax report as well) for one trade group the cost base to zero (slider in the middle) via the filter settings. Then you have both options here separate by trade groups and using gift as transaction type.
See FAQ: How to create trade groups (https://cointracking.freshdesk.com/a/solutions/articles/29000027248?lang=en)

Hey guys, there is something I can't wrap my head around regarding gifts.

Let's say I have two different type of gifts:

• Gifts where I know (and can prove) the original cost basis and purchase date.
• Gifts where I don't know either.

For the former, if I want to take over the cost basis of the previous owner I can enter the original cost basis as the transaction's value.
For the latter though, where I don't know the original cost basis, I would have to set it to zero.

Unfortunately though it won't save it when I enter zero (it will revert to the fair market value it calculates automatically).
Now, I'm aware that we can set ALL gifts to be calucated with a zero cost basis (via the filter).
But try as I might, I don't see how I can enter a cost basis for some gifts and have it set to zero for other gifts.

Question(s):
Is it possible to use both? That is, can we enter a custom cost basis for some gifts while setting it to zero for others?
If that is technically not possible at the moment, how do you guys handle it when you have both types of gifts? 

Do you have somewhere where users can submit requests that other users can vote on? I suspect that the ability to import Interest without requiring the top level price tier and without requiring manual workarounds would be popular.

Could price tiers be based on a different metric? For instance total value transacted. That may correlate better with people's ability to pay, and so may attract more users to sign up.

We import transactions 1:1 as they appear in reality. And every transaction count - there is no way to exclude transactions from those limits.
Some customers combine those to daily/weekly/monthly or even yearly transactions if allowed according tax laws in each country. This has to be done manually.
Then you can set a start date to API jobs to avoid re-imports.
Please create a backup beforehand.