Topic: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies - page 38. (Read 122902 times)

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

Tax Report Updates

- Automatic calculation of all margin, futures and derivatives PnL (now included in the Capital Gains Report)
- Improved "Best Price" method for better coin-to-coin conversion
- Schedule D, Schedule 1 and Form 1040 exports added to all Form 8949 PDF downloads
- New and fully automated depot separation (tax lots)
- Optimization and improvement of some rules for HMRC, AVCO and ACB reports
- Significantly faster tax report calculation
- Improved detailed reports with new layout

@tradenotes
Thank you for sharing this useful workaround.

Just want to add that after importing the transactions you would need to "bulk edit" the exchange name from "Exodus" to "Jaxx (or any other wallet name). Or if you have Exodus transactions in your account already you would need to rename the exchange name beforehand. Otherwise you would mix them.
See FAQ "Bulk Edit/Delete - Instructions" https://cointracking.freshdesk.com/a/solutions/articles/29000032637?lang=en

I found an easy work-around to import a Jaxx or Jaxx-Liberty wallet, or most other unsupported wallets.  This method will probably work for most other wallets that use the same type of recovery process.

Problem:  The Jaxx-Liberty Wallet export feature does not provide a list of transactions in a .csv file, but rather only addresses can be exported. It would be tedious to look up each address on a block explorer, especially if a new address is created every time a transaction is received.

Solution:  I found that the easiest way to import all data from an unsupported wallet is to use the backup recovery process to "restore" a wallet into a fully supported wallet such as Exodus.

The idea is to use the recovery phrase to so that Exodus actually becomes a new clone of your existing Jaxx-Liberty wallet, which will include all the separate wallets and transactions.  Then once Exodus becomes your new wallet software, simply follow the instructions from CoinTracking.info to export, and then upload the .csv file.

I checked the CoinTracking.info site to look for wallet import options that support all transactions, including fees.  I saw that the Exodus wallet is fully supported.  Here is a way to convert an unsupported wallet in to a new Exodus wallet.

How to Clone an Existing Wallet to a New Exodus Wallet

1.) Install the Exodus Wallet,  Desktop or Mobile App from the official site www.exodus.io -- be sure to verify
2.) If you already have an existing Exodus wallet, try the process with a different wallet, or make a backup, as this process will start fresh and replace everything
3.) Open Exodus, Select "I already have a wallet"
4.) In the "Restore Wallet" section choose, your method to sync from QR code, or from secret phrase.
5.) Get the recovery words from Jaxx, (or other unsupported wallet), and enter them into Exodus (or try the QR Scan).
6.) Follow the instructions from CoinTracking.info (Enter Coins / Wallet Imports / Exodus) to export, and upload the .csv file.

@jojo69
I am sorry to hear that something is not working in your account. We are here to support you e.g. if you are new to our software service.
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] and add your account username there.
Thank you.

this is stupid, this site used to just work, now it's all different and doesn't seem to work

it says "Here we go! Your Trade and Portfolio Analysis is only one step away.

Click on "New" to add your first trade. Or click on one of the Exchange logos, to import all your trades directly from there."

with a big red arrow...that you would think would point to the "new" button?  yeah, no button


click on coinbase logo...nothing happens


is this a joke?

Yes, you can edit the Asset value for every transaction if needed on the Enter Coins page as described in this FAQ article: Edit asset value manually https://cointracking.freshdesk.com/a/solutions/articles/29000033219?lang=en

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