Topic: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies - page 39. (Read 122389 times)

@Sprucemoose78

All transactions you did add to your account before your subscription switched back into FREE are still in your there, but you cannot add new transactions and you cannot use the other PRO features like add API jobs. And creating a tax report is one of those features as well. A gain calculation with more than 100 trade transactions in total (not per year) is not possible.  
You can upgrade your account any time you wish if you need those PRO features. The only thing you need to perform afterwards is described here: https://cointracking.freshdesk.com/a/solutions/articles/29000027952?lang=en

@Andreas_CoinTracking

Thanks for the reply. However, I still don't quite understand what happens with all my trades. If I understand you correct, the trades I registered when I was a Pro user (up until today) is, in some way "lost" in all future calculations? Meaning these won't be taken into account when creating a tax report? I can still create a tax report now as a free user, but the site states that I'm limited to 100 sales (not total trades?). I have only 101 total trades in 2019, and only 53 of these are sales. But I have plenty of trades from previous years. How are my previously inputted trades (done during my PRO subscription) handled now when I'm downgraded to a free account?

@Sprucemoose78
If you have more then 200 transactions in your account you would need a PRO subscription to use all the features e.g. adding more transactions and create a tax report. You can check and compare the available license models here: https://cointracking.info/pro.php
If you wish you could send us a support ticket or an E-Mail to [email protected] with your CoinTracking username (login) to check your account in addition.

I've had a 2 year subscription that is now run out, and I'm not sure if I need a paid service any more. I won't be doing much trading in the near future, but I'm not really sure how CT will handle all my trades that I've imported during the time I had my paid subscription. I've in excess of 1000 trades imported.

As an example, will the tax-report for 2019 take into account these past trades, or will some be omitted? In 2019 I've performed less than 100 sales in 2019 (which seems to be a limit of the free tax report service). On the app, I can see my total value of all coins, and I can still see the correct amount on the gains page (seems that this calculation takes into account all trades, even the ones exceeding the free limit).

Can some CT developers please clarify what "happens" to my past trades? I don't want to inadvertently generate a tax report that omits a bunch of trades that I'm not aware of.

Happy Holidays from the entire Cointracking Team. Thank you for using our software and a happy Crypto 2020!

Hi Elmsy,
please note that reselling of the account is not usually intended.

In our Terms of Service we say: "You are the only person allowed to use your CoinTracking account, username and password. You agree not to allow anyone else to use your account or password, and to take reasonable steps to prevent unauthorized persons from learning your password and using the Service. You may create separate user accounts within each CoinTracking subscription to provide other people access."

A transfer / sale of the account is at your own risk!

Is it possible to sell a Cointracking unlimited account? I have an account that I no longer need and would like to sell it to someone who may get some use out of it.
Thanks.

@PyeHzqOd
Thank you. We will take care of this.

@Andreas_CoinTracking
Thank you. I sent an email.

@PyeHzqOd
Of course we will adjust this.
Would you be so kind and send us a support ticket or an E-Mail to [email protected] with your CoinTracking username (login) to take your account as an example case. Thank you in advance.

Good day,

Kraken added the option to stake Tezos. When I did his the the API imported a withdrawal of XTz and a deposit of TZ.S (Kraken uses XTZ.S)
I received the first staking reward today, but it did not show in cointracking.

Will it be possible you update the api import so it will import XTZ.S as XTZ and also imports the reward?

@boomboom

Thank you for this explanation and recommendation. We have this now on our list for improvements. And thank you for your patience here.
Setting a manual price from your price source is the option you have.

Thank you, maybe you could add a warning to coins once the price data source gets past a certain time without updating, e.g. 2 months. For now I will set the Qora price manually to something more realistic, and explain to my tax advisor that the Qora price in bitcoin is actually fixed at the last traded price from a long time ago (I think 2017), it only changes in AUD terms on the portfolio section of the dashboard because Bitcoin price in AUD is changing daily, not Qora itself.

Hi,

I no longer have a need for my unlimited account. Is there any place I can sell this on to someone that may get more use out of it (obviously wouldn't expect to sell at retail price).

Thanks!

Thank you for your clarification and explanation here. I did assume you have an "official" OTC price source somewhere.

Yes at the moment there is no way to flag a coin as "dead" so the last price we get from our price source is the "current" one.
We take this example as an valuable feedback and are searching for a solution within CoinTracking. Once in place we announce it on our "new features" page.

If you are not happy with the price of our price sources - wo do rely on them and it is needed for price history to keep them within CoinTracking - you can set a custom price. We are no tax advisors but if a coin is traded nowhere it might have no price meaning no value and you could set the price to zero if you own some as outlined in my last reply. Or you could set your OTC prices if you have some.

On my dashboard I see this for Qora today.



It makes it look like Qora is still being actively traded, it indicates Qora went up by 5.81% in AUD today and is valued at 0.54 AUD per coin today. This data is confusing my tax advisor who raised it with me, he doesn't understand the history of every coin I trade, so he uses Cointracking as his guide. When I told him Qora isn't actively traded and its current value is nowhere near 0.54 cents AUD in the OTC market he asked,  'why does Cointracking show otherwise?'



Nobody can say definitively when a coin is 'dead', but if Cointracking uses 2 data sources and both show a coin hasn't been traded actively on any recognised exchanges for a couple of years, I think this could be shown on the portfolio section of the dashboard.

If I enter OTC trades at a realistic price for Qora they look strange to my tax advisor, like if I entered trades selling Bitcoin for $10 when Cointracking tells him the BTC price is ~7.8k USD. My tax advisor uses Cointracking as a source of truth, and the data for Qora is NOT realistic for today (if anyone is willing to pay 0.54 AUD for Qora please get in touch, I have a bag worth 200k USD at that price), when a coin isn't being traded on any markets you have data for the true price would be "unknown", the last traded price from a couple of years ago is very confusing.

@boomboom.
You are welcome.

Most coins are delisted e.g. due to 51% hack or chain defective from our data sources but are still out there.
Does the community know if there is a data source where you can check if the coins are really "dead"? Thank you in advance.

Where do you see the USD or AUD prices for Qora?

You can enter a price you like while uncheck the "Best price" slider here for a coin: https://cointracking.info/summary.php?prices=custom
This article might be useful as well: https://cointracking.freshdesk.com/en/support/solutions/articles/29000007203-entering-ico-coins-and-non-listed-assets

Thanks for this explanation! Would it be possible to add something like a 'last traded' date to the price data chart to make it obvious when a coin is dormant like Qora? I can see now that the last traded price for Qora can be fixed from years ago in terms of bitcoin, but in terms of USD or AUD the price changes daily, so the price chart looks like the price is changing every day and actively traded. This is what confused me, the price is not constant.

If I add manual OTC trades to my cointracking the difference in price between the last traded price and what I can actually get in the current market today is quite huge, it looks a bit strange and might raise eyebrows from my accountant who doesn't realise Qora isn't actively traded for years. If I could sell my Qora at the last traded price I would be very happy, but sadly, that price is long gone!


Also, can I manually change the Qora price used to calculate my portfolio? That last traded price makes me look rich!

@ggeorgiev.
Thank you for raising this topic. We will correct that as soon as possible so that the Digital Insurance Token is available in CoinTracking as well, most probably as DIT2 as the ticker DIT is already assigned to Ditcoin.

Hey guys - your database has DIT as DITCOIN while DIT on CMC is https://coinmarketcap.com/currencies/digital-insurance-token/ which is different? Can you please clarify? I am looking to add the Digital Insurance Token which is trading on HitBTC