Topic: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies - page 37. (Read 122389 times)

If I exchange one asset directly for another - is there a way to assign the fiat value of the sold asset at that point to calculate the gains? Or would you break that transaction into two steps?

Dear CoinTracking User. We would like to inform you about the following changes / improvements:

Updates and Improvements

- Bitcoin.de fix for users with very old Bitcoin.de transactions (7+ years)
- Bitcoin.de "insufficient credits error" fix
- Binance fees in a third currency (e.g. BNB) are now imported as "Other fees"
- Updates for the Gemini import
- Import of Kraken staking transactions
- The Kraken API now also imports PnLs with more than one currency per trade
- Kraken Live Balance: Fix some coin names
- Update of the transactions to be imported for Bybit imports (CSV and API)
- Support for Bitfinex affiliate discount transactions
- Support for Poloniex staking transactions
- Support for new transaction types for LedgerLive CSV imports
- For Deribit CSVs the new and the old CSV format is now supported
- The import of the fee for Hotbit CSV imports has been adjusted

- Fix for BET Coins (BET = DaoBET | BET2 = EarnBET | BET3 = BetaCoin)
- Fix for DEV Coins (adjustment of the price source and historical prices)
- 112 new coin icons added

- New tax reports for HMRC, AVCO and ACB

- New Excel import template with new transaction types (can be downloaded from the Excel import page)

- The selection and edit of many transactions (1000+) at once was slow in some browsers (Enter Coins page). This has been fixed.

- New exclusive third party discounts for all CoinTracking Premium Users (more discounts will follow soon)

@thierryb180381
Deleting a transaction which comes in via API will trigger the API to re-import those missing transactions again by design. You can either live with that coins or delete the transactions and move the start date of your API job always to the next day. Or you can edit the not needed transactions and set the amount to zero.

All imported transactions are visible on the trade list of course if you set no filters e.g. by exchange on the report pages.

I would suggest to check your account individually regarding all other questions as they could not be answered in general. So please reach out to us via our Ticket tool within your account or sending an E-Mail to [email protected]
Thank you.

Hello,

Most of my crypto transaction are mostly done like this :
- initial buy from a platform (crypto.com, binance...)
- transfers to my ledger

So to make it the more automatic possible, I tried to import my 2 ethereum wallet but :
- unfortunately in my wallet, I've a shit token and each time I refresh my ethereum transaction, it appears again, there is a way to ignore it definitively but refreshing other transactions ?
- last refresh date last from 9:20am, Ive a transaction since but no way to see it, it's normal?

I tried to import transactions csv from crypto.com but I don't see them in trading list / price, is it normal?

I use free version of cointracking and my total transactions number are 143.

Thank you.

@IAS
The "tax free coins (short & long)" report is available with FIFO method only. Adding more methods there or in separate report is already on our improvement list.
Other methods are available in your capital gains report within your tax report if you create your tax report with your method (e.g. LIFO). Changing the method over the years is not recommended.

Under "Reporting" is there a way to see "Tax-Free Coins (short and long)" using LIFO and other accounting methods?

Thx in advance
IAS

@PyeHzqOd
To check your account individually please reach out to us via our Ticket tool within your account or sending an E-Mail to [email protected]
Thank you.

I'm trying the new API feature for interest income for Poloniex and Bitfinex.
Bitfinex seems fine, but with Poloniex I sometimes have multiple entries for days. If I check the first entry is the correct amount for that day.
On the API page it says that there will only be 1 entry a day.

We add the CSV import for FTX very soon. I cannot provide an estimation date so far. Once in place, we will announce it on our "new features pages".
Thank you for your patience.

When will you add support for ftx.com?

We are excited to announce a huge update of our transaction types! New options include margin gains and losses, derivatives & futures, dividends commercial mining income, airdrops, staking, masternodes, several interest types and many more.
API and CSV imports have been adapted to support these new types. They can all be viewed on the Enter Coins page when adding or editing a transaction. Enjoy!

Feature update! CoinTracking now has two new trading tools. One lets you build your own custom charts and the other gives you access to in-depth coin metrics.
Read this for more details: https://news.bitcoin.com/cointracking-launches-two-powerful-free-plug-ins-for-crypto-traders/

Thank you for this feedback and that you are happy with our software service.

Regarding the transaction summary. We do import 1:1 what is provided by the exchange or wallet provider in the CSV or via API. All those transactions does have a unique trade ID assigned by the provider and this is why it is imported separately as every single transactions.
And it depends on the tax laws of your country if summarizing transactions is allowed even if it makes logically sense. You can summarize transactions on your own risk acknowledging that it is manual effort. We suggest to contact a CPA/tax accountant.

You can name your exchange as "paper wallet". And if you are talking about lot/depot separation we will release a new FAQ article soon with the several options you have.
To use the depot separation in your tax report you need to allocate your trades first (https://cointracking.info/trade_allocation.php) where we acknowledge the effort which needs to be taken.   

To check your account individually please reach out to us via our Ticket tool within your account or sending an E-Mail to [email protected]

I mostly love the software. Really, it is quite nice. But the pricing is extreme AS it relates to actual trades made.

For example:

If I place a market order for 1BTC worth of an alt coin, that might be 150 transactions, maybe more, depends on the order book.
If I was to manually import that, it would be 1 transaction, but I would have to summarize the 150 "trades".
Really, it is just 1 transaction, but details that I don't need are imported. Can't the software just summarize this? (Like how the softwares reporting function has the  "group trades by day".)
So, what I have started doing is just summarizing the trade manually, instead of importing the many small trades via the easy .csv import.
If you are a day trader or high frequency trader I imagine it is just way too time consuming.

For tax purposes the price doesn't change. In 99% of cases, I don't need the detail of how that order was filled. If I want that I can just save the original downloaded .csv file.
I feel like going through and summarizing my 150,000 plus trades into what it actually is - about 1200 or so. That would save most of us a lot of money.
And it is a lot easier on the eyes to have a simplified history. When I want the detail, I should have that choice.

The second problems is the complicated nature of the paper wallet solution.
I would like a simplified labelling system for paper wallets precisely. I appreciate the MANY "work arounds" you guys have (labels, pools, etc.), but having a simple paper wallet function would be better.

Appreciated,
IAS

@Convington

We have now fixed our prices, as we had previously linked the packages to the BTC price. This means that depending on the BTC price, some users paid a lot for an upgrade or, if the price was low, they paid very little.

However, since we wanted to make it consistent for all users, we decided to set fixed prices regardless of the market situation of the BTC.

Furthermore, we felt that the jump from a PRO Upgrade with 3500 trades to the UNLIMITED Upgrade with an unlimited number of transactions was too high. For this reason we have introduced the EXPERT package, where you as a user have the possibility to choose 3 additional packages (max 20.000, 50.000 and 100.000 transactions).

Compared to the market, it is also important for us to offer a good price-performance ratio.


And to check your account individually please reach out to us via our Ticket tool within your account or sending an E-Mail to [email protected]

yeah, but it cost me $230-ish when I renewed for 2 years.  Now it is going to cost me $371-ish for 2 years.  And then after that who knows.  Depends upon if I get more active with my trades.  And - I don't even know how many I have this year because I can't import lol.    I was more active than last year, so maybe it will cost me even more.

Seems like it is time to move on even though I love Cointracking.

@Convington
Thank you for using our Software service.

The transaction amount for all levels of subscriptions is always in total and not per year. You can compare all subscription levels - and we have added new EXPERT levels beside PRO and UNLIMITED - and the features here: https://cointracking.info/pro.php
According to your given example with >5000 transactions until now the new Expert Level S with 20000 transaction in total would be sufficient.
If you like to extend your account and it went back to FREE already please follow the steps in this articles regarding the APIs: "What you need to do after subscription renewal" https://cointracking.freshdesk.com/a/solutions/articles/29000027952-what-you-need-to-do-after-subscription-renewal/en

To check your account individually please reach out to us via our Ticket tool within your account or sending an E-Mail to [email protected]

I've been using CT for a while now.  Does it just get more and more expensive depending upon how many transactions you accumulate???  That is what it looks like now that my membership expired.  I would think it would be "Transactions per year", but looks like total transactions if I am reading it correctly?

So, if I have:


2018: 3000 transactions
2019: 2000 transactions

I have less transactions/imports in 2019, but my cost goes up because I have over 3,500 transactions total?  Is that correct?  Trying to figure out if I pay again and I doubt it if it is just going to keep going up and up in price each year even though I am using it the same way and transactions are going down. 

BTW - those are just example numbers, I've been using since 2016 and haven't paid much attention to how much I was spending to keep my subscription up.  According to my email: I last paid for 2 years in 2018 which expired last month.  I paid .382 ETH then, which equates to about $234USD and based upon archive.org. That was approximately the 2-year rate for Unlimited (https://web.archive.org/web/20171228150557/https://cointracking.info/pro.php), 0.029BTC = $239.82 USD. 

But - does that mean I pay based upon the total number of transactions... OR have I been doing it wrong?  Unlimited now is $600 for a single year, which seems excessive to me for only max 3k transactions / year for me.

Anyway... hopefully that explains well what I am asking. 

Dear CoinTracking User. We would like to inform you about the following changes / improvements:

Updates and Improvements

- New Crypto.com CSV import
- New Bitpanda Pro CSV import
- Updates for Coinspot, Binance, Bittrex and IndependentReserve
- Export function for all tables on the "Balance by Currency" page
- Connect your CoinTracking API with Cryptosheets' add-ins to automatically import and sync your CoinTracking data with Excel & Google Sheets. Further information can be found here: "Account -> API"

Dear CoinTracking User. We would like to inform you about the following changes / improvements:

Updates and Improvements

- Binance fix for withdrawals that in some cases were not imported
- Coinbase CSV fix for staking income that in some cases was not imported
- The Coinbase CSV import now also supports "Rewards Income" and "Coinbase Earn"
- New CSV format for OKCoin and Gate.io files
- Fix for the Bitpanda API so that cancelled deposits are not imported
- Support for Krakens KFEE fees and deposits