Topic: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies - page 39. (Read 122619 times)

@calculatorduck.
Thank you that you are interested in using our service and raising those questions.
1. Yes this could be tracked. We have several transaction types like Income and Trades as described here: https://cointracking.freshdesk.com/a/solutions/articles/29000018272?lang=en. This article includes of course link to other FAQ articles about Mining.
Poloniex transactions could even be imported via API as lot´s of other exchanges as well.
The gains will be calculated according the method based on purchase pools as described here: https://cointracking.freshdesk.com/a/solutions/articles/29000031793?lang=en
2. You could enter all past transaction and create reports as long as you have subscribed to our service. Actually it is required to enter all past transactions to have consistent reports (see FAQ about purchase pool). E.g. if you signup now you can add data from 2013 (or even earlier) until today.
3. Of course you only pay the difference price once you upgrade to the next level.
4. Sure you can do. The only thing you keep in mind is that a transactions has a unique TradeID assigned by the API provider. This is a "is this transaction already there marker". That means if you delete a transaction which is imported via API it will be re-imported again. If you adjust the amount or other values of your transactions this entry will remain according your changes and not be re-imported.

For specific cases you could always reach out to us via our Ticket tool within your account or sending an E-Mail to [email protected]

A few questions before I sign up:


1. My income is from mining. If I mined directly to an exchange (e.g Poloniex) and then traded to BTC, then sent that BTC to Coinbase, can that be tracked or will it look like double transactions? Is there any sort of tax-advantaged way to track these lots across services?

2. If I want to use the service to generate a tax report for more than one year (2019 and prior years), do I need to sign up for multiple years of cointracking, or can I do several separate years report with one year active subscription to cointracking?

3. If I sign up for Pro and end up needing Expert can I just pay the difference to upgrade, or do I need to pay full price all over again?

4. If I use API import can I still manually enter or delete transactions if needed?


Thank you for answering if you can.

@uoffendedme
It is not recommended to delete any previous transactions. CoinTracking is based on every transaction on which balances or reports are calculated and build from. Otherwise those calculations are wrong.
The only thing what could be done is to summarise transactions with the same trade pairs and same timestamp due to the same asset value at this time.

What is the most expedient way to find and delete consumed purchase pools and corresponding sells which have already been accounted for in a previous tax year? These transactions are of no use to me now but still count toward my subscription quota.. Thanks

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

Updates and Improvements
- Tax Report settings are now permanently saved and do not have to be selected again each time
- 3 charts added to the report "Current Balance" (distribution of currencies and coins)
- Added filter to the "Missing Transactions" check to hide matches
- Added checkbox for the report "(Un)realised gains" to hide currencies equal/less zero
- Added sorting in the report "Balance by Exchange" to sort by coin name or by value
- All chart titles in the dashboard are now linked to the respective reports
- New Deribit CSV import

- Fix for deposits and withdrawals for the changed Binance API
- Fixed trading fee for EUR/USD trades in the Bitstamp API
- Fixed the chart labels for the "Balance by Exchange" chart, if the grouping is set to "Transaction Type"
- Income reports added to ACB tax calculations
- Optimized number formatting for all charts

I requested OKEX transactions for their support. The trades sheet I received includes transaction fees but it does not specify which currency is the fee in. Anyone else running into the same issue?

@ggeorgiev
We get our source of coin value from coinmarketcap.com and worldcoinindex.com then it is weighted by volume of transactions in the exchanges.
   
We are adding new coins automatically once they are listed on an exchange (usually within 1-3 days).
For now, you could try adding these tokens manually by following the instructions here:  https://cointracking.freshdesk.com/en/support/solutions/articles/29000007203-entering-ico-coins-and-non-listed-assets
 
Please note: We do not add new coins on request. They will be added automatically once there are trades on a known exchange.

The ALY (ALLY) token you mentioned is listed on CMC but with no reported volume yet. That it is why we do not have it in CoinTracking yet.

Can you guys add this coin? https://www.gate.io/trade/ALY_USDT

Hi ggeorgiev,

Digital Insurance Token and the correct price is now assigned to "DIT".

It looks like you just assigned DIT to Digital Insurance Token correct?

Thanks! This makes it a bit clearer. Will see what I will need of the PRO features and renew if nescessary.

@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.