Topic: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies - page 29. (Read 122619 times)

Should we be creating a new API for Binance or will our existing ones work with the upgraded API?

@Sprucemoose78
Both options are fine.
See "Working with Two Fiat Currencies / Cost Basis 0 for FIAT" (https://cointracking.freshdesk.com/en/support/solutions/articles/29000018222-working-with-two-fiat-currencies-cost-basis-0-for-fiat)
In general we do not recommend tracking FIAT deposits at all.
See FAQs:
"Different ways of managing your portfolio" (https://cointracking.freshdesk.com/a/solutions/articles/29000018265?lang=en)
"My account is showing negative FIAT values" (https://cointracking.freshdesk.com/a/solutions/articles/29000018210?lang=en)

Quick question on the correct input when transferring FIAT between my bank and a crypto exchange.

I want to transfer EUR from Binance to my Norwegian bank account (currency is NOK). Which one of the following methods are correct:

A) First make a transfer in EUR from Binance (outgoing) to bank (incoming), then make a trade from EUR to NOK using my bank as the exchange (then I will end up with three lines under "Enter coins": A withdrawal, a deposit and a trade).

or

B) Make a withdrawal from Binance in EUR and a deposit in NOK to my bank (resulting in only two lines under "Enter coins": A withdrawal and a deposit)

@FakeBird
Yes you can handle this as transfer. We are working on a automated solution at the moment. And in addition a swap transaction type with no impact on gain/loss or holding period. Thank you for your patience.
@bitdogg
If the fees are not added or a mismatch in the amount is there it could appear that the missing transaction report shows them still as white but should be green. So you can skip those 2 entries then.
@asdsvsdf
We suggest to use the asset value of the counterpart currency which is listed on our price sources and copy the sell value from there e.g if you sell this unlisted token against ETH - Edit asset value manually (https://cointracking.freshdesk.com/a/solutions/articles/29000033219?lang=en)

how do I ensure staking a coin and then selling it has tax properly accounted for if the token doesn't exist in CoinTracking.info? (similar to FakeBird's question)

For example, I have been receiving staking income from Bao.cx on XDai chain (https://blockscout.com/xdai/mainnet/tokens/0xe0d0b1DBbCF3dd5CAc67edaf9243863Fd70745DA/token-transfers) and immediately sell it for BAO (which IS on CoinTracking.info, https://etherscan.io/token/0x374cb8c27130e2c9e04f44303f3c8351b9de61c1) which should yield a small amount of 'realized gains' (because of the cost basis of Bao.cx being close to 1:1 with BAO), but since CoinTracking.info doesn't have Bao.cx supported my realized gain is massive (i.e. the entire proceeds of my trade) which ends up inflating my tax bill (in fact, I should have roughly 10% in realized LOSSES of the cost basis because of the slippage when trading Bao.cx for BAO, as they are intended to be 1:1 but the swap contract doesn't exist yet and the market has Bao at a 1.1x premium)

Is there a way to fix this, or does CoinTracking.info need to import/support Bao.cx for me to properly have this reflected in tax reports? Is there a way for me to set a cost basis price for each staking entry (since I have multiple over the course of a couple of weeks, i.e. a way to specify for each staking entry and trade what the price was for Bao.cx at the time)?

Perhaps this is a request/pretty please ask to add support for Bao.cx (https://blockscout.com/xdai/mainnet/tokens/0xe0d0b1DBbCF3dd5CAc67edaf9243863Fd70745DA/token-transfers) for me and others receiving this as staking rewards

The Find Missing Transactions (Deposits and Withdrawals) report does not appear to consider deposit-side fees in finding exact 100% matches. Kraken, for example, charges a fee on certain crypto deposits, like Cosmos (ATOM2).

Hi,

I need help with how to track staking/farming on Pancakeswap in CoinTracking. When you are staking you get a proof-of-stake token called SYRUP. CoinTracking interprets this as a trade (which it technically is), but as this token does not have a value, it throws a warning. Apart from that, for taxes, this is not a trade but a transfer.

So how can I handle these transactions? Do I need to add a transfer manually?

It would also be really helpful if there was an automatic way. I usually harvest and stake several times a week, so adding the transaction manually every time would be painful.

Thanks!

@Nerome
It is in our list, but we have the API instead. Thank you for your patience here.
You can import it via Custom CSV importer or Excel template for now. 

Would it be possible to work on allowing Bitmex .csv imports some time?
As I'm a user in a country where Bitmex is no longer operational, and they no longer provide API support for users like me, their support hotline only offers .csv exporting.
I'm trying my best to be complete and honest with my taxes but bitmex remains a hole in my accuracy.
It would mean a ton for me, and I'm sure anyone else who has used them, to work on this feature.

Thanks

The "identifier" for duplicates is only the TradeID. As Binance does not provide any unique TradeID in their CSV files, but only via API we assign a own trade ID for CSV transactions which is different from API of course. This is why duplicates could not be identified.
We have it already on our improvement list to identify duplicates more easy beside the TradeID.
The best report to check the TradeIDs is the "Trade List (full view)" report via "manage columns".

With Find Duplicate Transactions, is there any way to have tickboxes for the import source (Exchange ID) and Transaction ID (Tx ID), so we can do a search without these options. Ive found especially in Binance that if you have imported via API and then also used a CSV to pick up things you may have missed if any duplicates appear they dont show up in the report as i assume its a different import source.

I think this feature would help a lot in trying to find issues when you totals dont seem to add up correctly.

@asdsvsdf
If you add it correctly it will be reflected on the balance by exchange report as well.
You need to add a trade with 1 ETH as sell amount + 0.05 ETH fee in the fee field and you would end up with zero ETH.
Please check the FAQ "Entering Fees" with some example transactions (https://cointracking.freshdesk.com/en/support/solutions/articles/29000007202-entering-fees)

are transaction fees not accounted for in the 'balance by exchange' view? why not?

example:
add deposit to 'Dummy Exchange' for 1 ETH
add transaction for 'Dummy Exchange', selling .95 ETH for 2000 USD with transaction fee of .05 ETH.
Balance by exchange will show .05 ETH and 2000 USD for 'Dummy Exchange'

i don't see how it's useful for this page to deviate from reality... imo this page should reflect my exact balance and thus take fees into account

is the idea that the 'fee' column is basically fake and that the fee should be included in the math for the underlying transaction? why is the architecture like that? seems more confusing than it should be, the system should automatically handle the fee math for us

like, even your imports don't do this automatically, with imports for Coinbase and Kraken directly listing proper values, with sell and fee being distinct. why is the system not consistent here?

It worked!  Thank you so much for the quick response!  =)

@RedEyeNinja
No problem at all. You can do a bulk deletion and choose the "add date" even a time when you imported those transactions and you select those via this condition and all of them will be deleted. FAQ: Bulk Edit/Delete - Instructions (https://cointracking.freshdesk.com/a/solutions/articles/29000032637?lang=en)
Please create a backup before and regularly of course: Create backup, restore or export your account data (https://cointracking.freshdesk.com/a/solutions/articles/29000031008?lang=en)

Hello Andreas.

I understand support might take some time...but please put my mind at ease.

I accidentally removed the filter date on a API import last night before going to bed, and this morning I woke up to 611 imported transactions, like all dupes from the past few yrs. I immediately clicked on "Duplicate Transactions", hoping it'd pick them all up and correct the mistake, but the system didn't pick up any of them as dupes.

I hope the system can reverse a batch job.

Yes, I have already submitted a ticket.

@Plenty
Yes this was changed as only Staking as income transaction is needed.

Last month, there was some change which corrected staking activity imported into CT from Kraken.  Now I see the change has reverted to incorrectly accounting for all of the transactions again.
There should be three transactions for users who are receiving staking rewards: 1) deposit 2) withdrawal 3) staking.  There is only "staking" now.  Is this on your end?

@theratears
Regarding Gates.io new API version: Sure, it is already on our list. Beside others of course. Thank you for your patience here.

@Maximus_Pain
Sorry I missed your post.
ETC API import is not supported by us right now. You have to go through CSV (custom importer) or Excel Template.

Are you responding to me?