Topic: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies - page 40. (Read 122619 times)

@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

@boomboom.
Our price source is coinmarketcap and worldcoinindex. As soon as coins are or have been listed there you can find them within CoinTracking e.g. on the Coin Trends page (https://cointracking.info/coin_trends.php). There you see currently no MarketCap. And it is not listed any more on CMC or WCI so in CoinTracking it is the last price we get from our price sources to have a price history for past transactions.

Where does Cointracking get price & trade data for Qora from?

https://cointracking.info/coin_charts.php?cur=QORA

afaik Qora isn't traded on any CEX exchanges, is this data from a DEX?

Hi maxvan1.
Unfortunately, we can't say how you have to tax your profits and losses from margin trades.
You can find all necessary information with cost basis in the income report. Maybe you can transfer this information to form 8949.  To be on the safe side, you should check this with a tax advisor.
Via our Tax page you can find tax information and a list of tax advisors.
I hope it helps.
https://cointracking.info/law/

Ok but they're capital gains/losses and should go on my 8949, right? Can the software export them as an attachment to the 8949?

Hi maxvan1.
That's correct. Earnings from margin trades are imported as income.

Thanks Andreas -- part of my issue was that some exchanges include deposits/withdrawals, while some do not. I had to go in and manually correct it.

Some of my kraken margin trades are being reported as income. Is that right?

@maxvan1

In general you should enter ALL your wallets and ALL your transactions. The more accurate is the result in your account. And of course the Kraken transactions would gave your portfolio a more complete picture.
KuCoin could be imported via API, Coinbase as well with no API limitations by the exchange.
TradeOgre we do support via CSV.

Those FAQ articles are helpful to mitigate negative coin balances - in most cases transactions - either trades, deposits or withdrawals are missing:
https://cointracking.freshdesk.com/a/solutions/articles/29000018817?lang=en
https://cointracking.freshdesk.com/a/solutions/articles/29000006990?lang=en
The reason for possible negative balances is that CoinTracking calculates the balances out of the transactions happened and of course imported.

If it does not help I suggest to check your account individually. Please send us a support ticket or an E-Mail to [email protected] with your CoinTracking username (login).

I just purchased a Pro account and uploaded my trades from TradeOgre, Kucoin, and Coinbase

The way I typically purchased coins was by depositing USD to Coinbase, buying BTC, withdrawing BTC to Kucoin or TradeOgre and purchasing altcoins (exclusively Loki).

When I go to view balance, it shows an incorrect amount of Loki and it also shows that I have a **negative** bitcoin balance. But if I go to go gains/losses, it shows a correct amount of Loki, while still showing a **negative** BTC balance.

What is going on with this? How can I have a negative BTC balance? Also, do I need to manually input my withdraws from Coinbase?

*Edit: I should also note that I have not yet uploaded my Kraken transactions; maybe that will fix the negative btc balance issue?

You can find them in section "Optional settings and filters:" of your current ETH API job while Editing it and there is written "start date (optional)" in a blank field.
This FAQ article might be helfpul here as well: https://cointracking.freshdesk.com/en/support/solutions/articles/29000031154-create-and-delete-api-import-job
(even if the example pictures there are about Exchange API jobs)