Quick question here. I'm using my own calculations for calculating my taxes this year but I discovered cointracking.info (AWESOME tool by the way, love all the plots and reports!) and added all my transactions there as well to double check and find a better way than manually calculate.
I've added transactions and transfers and I am looking at my tax report (for the US, using FIFO). I am seeing something I am not sure I understand.
The hypothetical (for simplicity) situation is this:
- I have 1 btc I bought 2 years ago so long term holding on exchange A
- I transfer this 1 btc to exchange B 1 day before next item/sale below so it arrives first on exchange B
- I sell some other coins to 1 BTC last month on exchange B
- I sell both 2 BTC to USD for example.
When I did this manually I expect to have that last BTC sale be split into two portions. 1 btc to be long term (the transferred one) and 1 btc to be short term (received from sale).
Second part of the question is that cointracking.info seems to be reporting the purchase date for the entire sale of 2 BTC to be the date of the first transfer and not the one of the sale, making the entire 2 BTC a long term capital gain. I believe this is incorrect.
Any thoughts? Am I missing something?
Topic: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies - page 61. (Read 122657 times)
April 02, 2018, 02:20:41 AM
April 02, 2018, 02:17:42 AM
12/19/18 I bought 2 ETH = $1,762.04, Coinbase fee was $67.61
I recorded:
Transaction Type (Trade (exchange))
Transaction date : 12/19/17
Buy: 2
Currency: ETH
Sell:1762.04
Currency USD
Trading Fee
Amount: 67.61000000
Currency: USD
Is my above recording correct?
Then I sent 2 ETH ≈ $1,685.02 from Coinbase to Binance on 12/19/17
Price per coin is $842.51
Fee is 0.00070980 ETH
Then on 12/19/17 I bought 165.20 ICX at 0.002685 on Binance, and the fee was 0.16520000 ICX. The total was 0.44356200 ETH
How can I record these transactions? Would you please help?
Thanks!
I recorded:
Transaction Type (Trade (exchange))
Transaction date : 12/19/17
Buy: 2
Currency: ETH
Sell:1762.04
Currency USD
Trading Fee
Amount: 67.61000000
Currency: USD
Is my above recording correct?
Then I sent 2 ETH ≈ $1,685.02 from Coinbase to Binance on 12/19/17
Price per coin is $842.51
Fee is 0.00070980 ETH
Then on 12/19/17 I bought 165.20 ICX at 0.002685 on Binance, and the fee was 0.16520000 ICX. The total was 0.44356200 ETH
How can I record these transactions? Would you please help?
Thanks!
April 01, 2018, 05:51:04 AM
Great, thank you very much! Going to give it a go now.
March 31, 2018, 05:21:41 PM
Multiple things:
...
4 - From Bittrex my BTG is off. It is a negative number. CSV trades show I sold more than what I had??? (I submitted support ticket with Bittrex already also.)
...
...
4 - From Bittrex my BTG is off. It is a negative number. CSV trades show I sold more than what I had??? (I submitted support ticket with Bittrex already also.)
...
did you take into account any btg you received from the fork?
I am sure that is it and sounds like Bittrex said they don't include stuff given on forks in CSV ... so how do I enter this?
March 31, 2018, 11:28:03 AM
I am trying to import an xpub and also a specific btc address but I get nothing showing up in the Enter Coins overview page. They show up in my saved transaction jobs but it doesn't seem like it ever executes the jobs. I am hoping I am missing something simple. The xpub is from Samourai is they have no CSV or a report of any kind. Other suggestions? Is there another service/another way to get Samourai xpub dumped into CSV format? Thanks.
March 31, 2018, 08:26:47 AM
I wanted to report an issue.
I have been using the Yobit API and having you pull in data.
I know it's a 7 day max, BUT you seem to be missing recent trades.
It appears that you are skipping trades that happen all at the same time. Like I do a sell of 50 and it gets split in 3 trades 30, 15, 5 all with the same timestamp. You appear to only pull one of the trades.
That's a pretty big issue. Can you correct?
March 31, 2018, 08:08:08 AM
I have a question related to airdrop, my MEW is connected with the API and after the token incident is monitored in Cointracking.
But since it comes from the air, I like entering entries as "gifts" but getting me into realization and unrealized profits, the token fee is not set to zero, and I do not even understand the value here, because it's a gift and free gift
But since it comes from the air, I like entering entries as "gifts" but getting me into realization and unrealized profits, the token fee is not set to zero, and I do not even understand the value here, because it's a gift and free gift
March 31, 2018, 07:54:49 AM
these months I use contracking and I think this is good but I always have problems importing trades from BTC Markets though. I understand CSV will not import Withdrawals and Deposits but even after entering them manually, the balance is not nearly correct.
March 31, 2018, 04:06:32 AM
Multiple things:
...
4 - From Bittrex my BTG is off. It is a negative number. CSV trades show I sold more than what I had??? (I submitted support ticket with Bittrex already also.)
...
...
4 - From Bittrex my BTG is off. It is a negative number. CSV trades show I sold more than what I had??? (I submitted support ticket with Bittrex already also.)
...
did you take into account any btg you received from the fork?
March 31, 2018, 01:38:38 AM
I am in the Enter Coins overview area selecting multiple coins (with Ctrl button and clicking away ... wish there was a select all check box since faster to deselect than select) then I click on the Edit box (not group edit) and when I go to change my Trade Group name (which is weird because it says multiple values yet they are all blank) so I click in box to give them a group name "Mining" and then click Update button and it gives this error:
Please enter a valid Date in any common format like 31.03.2018 or 03/31/2018 01:28:50
I didn't change the date value and it says Multiple Values. Probably about 257 transactions at one time I am trying to change. Works fine when I do say 3 of the trades. (And when I did 3 of them there is no value in the Trade Group name.)
Please enter a valid Date in any common format like 31.03.2018 or 03/31/2018 01:28:50
I didn't change the date value and it says Multiple Values. Probably about 257 transactions at one time I am trying to change. Works fine when I do say 3 of the trades. (And when I did 3 of them there is no value in the Trade Group name.)
March 31, 2018, 01:14:25 AM
Multiple things:
1 - Need to add Crypto Bridge exchange.
2 - Need to add Reddcoin for a wallet (I already submitted on the other website as instructed about 1 week ago.)
3 - What to do with PAC reverse split that happened on Cryptopia exchange? (It is throwing my balance way off.)
4 - From Bittrex my BTG is off. It is a negative number. CSV trades show I sold more than what I had??? (I submitted support ticket with Bittrex already also.)
5 - Ok so recommendation Group name for mining is "Mining" if I want ... but confused whether to put "Mining" or "Income" under Transaction Type since it has both.
1 - Need to add Crypto Bridge exchange.
2 - Need to add Reddcoin for a wallet (I already submitted on the other website as instructed about 1 week ago.)
3 - What to do with PAC reverse split that happened on Cryptopia exchange? (It is throwing my balance way off.)
4 - From Bittrex my BTG is off. It is a negative number. CSV trades show I sold more than what I had??? (I submitted support ticket with Bittrex already also.)
5 - Ok so recommendation Group name for mining is "Mining" if I want ... but confused whether to put "Mining" or "Income" under Transaction Type since it has both.
March 30, 2018, 12:10:36 AM
Response to: "Why are BNB fees from trades not being calculated in my BNB balance? It correctly deducts from the BNB balance for sales of the tokens but ignores it from any calculations as a fee."
I am also having this same problem...is there a solution for this?
I am also having this same problem...is there a solution for this?
March 29, 2018, 01:19:42 PM
Is anyone else's Tax Report not catching all Deposits and Transfers between exchanges? (Specifically Bittrex).
I have all the API jobs running and tried uploading the Full Order History .CSV from Bittrex, however I am getting 13 "Warnings" when I generate a Tax Report, even though when I got back to my transactions list it shows both the Withdrawal from an exchange (ex. Bitfinex) and a Deposit (Bittrex).
I've also tried deleting those transactions and reuploading them with the same timestamps, however I still get those errors when generating the report. Everything else is relatively balanced in my portfolio.
If anyone has any expertise, or if you @Dario3000 have any insights, that would be greatly appreciated. I have a ticket open #13473 if that makes anything easier.
Thank you in advance for your help!
I have all the API jobs running and tried uploading the Full Order History .CSV from Bittrex, however I am getting 13 "Warnings" when I generate a Tax Report, even though when I got back to my transactions list it shows both the Withdrawal from an exchange (ex. Bitfinex) and a Deposit (Bittrex).
I've also tried deleting those transactions and reuploading them with the same timestamps, however I still get those errors when generating the report. Everything else is relatively balanced in my portfolio.
If anyone has any expertise, or if you @Dario3000 have any insights, that would be greatly appreciated. I have a ticket open #13473 if that makes anything easier.
Thank you in advance for your help!
there needs to be a payment history for how you originaly obtained/bought the coins, I had major headaches with this.
lets say you bought a btc at bitstamp but you didn't enter the cash deposit as the correct type (income i believe) you will get a tax warning for the cash
if you traded say some ltc to btc on bitfinex but had the deposit type for the ltc as deposit(IN) rather than mining/income/gift it'll flag the ltc as a warning
Ahhh ok that makes sense I guess. It's interesting that Cointracking is triggering specific transactions as warnings however, as I had trades in Bittrex before the trades that show up as warnings. I'll try to rebalance it, and see if that helps. Thanks for the insight!
March 29, 2018, 12:51:26 AM
Is anyone else's Tax Report not catching all Deposits and Transfers between exchanges? (Specifically Bittrex).
I have all the API jobs running and tried uploading the Full Order History .CSV from Bittrex, however I am getting 13 "Warnings" when I generate a Tax Report, even though when I got back to my transactions list it shows both the Withdrawal from an exchange (ex. Bitfinex) and a Deposit (Bittrex).
I've also tried deleting those transactions and reuploading them with the same timestamps, however I still get those errors when generating the report. Everything else is relatively balanced in my portfolio.
If anyone has any expertise, or if you @Dario3000 have any insights, that would be greatly appreciated. I have a ticket open #13473 if that makes anything easier.
Thank you in advance for your help!
I have all the API jobs running and tried uploading the Full Order History .CSV from Bittrex, however I am getting 13 "Warnings" when I generate a Tax Report, even though when I got back to my transactions list it shows both the Withdrawal from an exchange (ex. Bitfinex) and a Deposit (Bittrex).
I've also tried deleting those transactions and reuploading them with the same timestamps, however I still get those errors when generating the report. Everything else is relatively balanced in my portfolio.
If anyone has any expertise, or if you @Dario3000 have any insights, that would be greatly appreciated. I have a ticket open #13473 if that makes anything easier.
Thank you in advance for your help!
there needs to be a payment history for how you originaly obtained/bought the coins, I had major headaches with this.
lets say you bought a btc at bitstamp but you didn't enter the cash deposit as the correct type (income i believe) you will get a tax warning for the cash
if you traded say some ltc to btc on bitfinex but had the deposit type for the ltc as deposit(IN) rather than mining/income/gift it'll flag the ltc as a warning
March 28, 2018, 03:27:52 PM
Is anyone else's Tax Report not catching all Deposits and Transfers between exchanges? (Specifically Bittrex).
I have all the API jobs running and tried uploading the Full Order History .CSV from Bittrex, however I am getting 13 "Warnings" when I generate a Tax Report, even though when I got back to my transactions list it shows both the Withdrawal from an exchange (ex. Bitfinex) and a Deposit (Bittrex).
I've also tried deleting those transactions and reuploading them with the same timestamps, however I still get those errors when generating the report. Everything else is relatively balanced in my portfolio.
If anyone has any expertise, or if you @Dario3000 have any insights, that would be greatly appreciated. I have a ticket open #13473 if that makes anything easier.
Thank you in advance for your help!
I have all the API jobs running and tried uploading the Full Order History .CSV from Bittrex, however I am getting 13 "Warnings" when I generate a Tax Report, even though when I got back to my transactions list it shows both the Withdrawal from an exchange (ex. Bitfinex) and a Deposit (Bittrex).
I've also tried deleting those transactions and reuploading them with the same timestamps, however I still get those errors when generating the report. Everything else is relatively balanced in my portfolio.
If anyone has any expertise, or if you @Dario3000 have any insights, that would be greatly appreciated. I have a ticket open #13473 if that makes anything easier.
Thank you in advance for your help!
March 25, 2018, 11:00:13 PM
don't forget to delete the t from the middle of the timestamp, never tried without but cointrackings kinda finiky on the uploads. There have been more than a few instances where I've had to copy the entire sheet into a new one before it'll upload without errors (if it complains about timestamp errors but all timestamps are there try it)
I'm surprised its not there already as it was a coinswap from POSW, been a while now to but they still have just POSW listed.
Are you saying that unless its on coinmarketcap it wont be added? I would've expected other ways such as a selection of the many exchanges.
Relying on 1 websites kinda stupid
c'mon guys add XSN already
How about getting Coin Market Cap to list it.I'm surprised its not there already as it was a coinswap from POSW, been a while now to but they still have just POSW listed.
Are you saying that unless its on coinmarketcap it wont be added? I would've expected other ways such as a selection of the many exchanges.
Relying on 1 websites kinda stupid
March 25, 2018, 10:18:07 PM
I'm having trouble figuring out how to calculate my mining income with cointracking, if someone could help me out.
I can make a tax report which calculates gains and losses. But my mining transactions that I've imported into cointracking are not calculated with that, since I haven't sold anything I've mined yet.
Is there a way to calculate what my income has been? The IRS says it should be calculated at the point of receipt, so it would be nice if cointracking added up the value of all my mining transactions at the time they were mined. Instead of calculating the current value of all my mining proceeds.
Thanks for the help!!
I can make a tax report which calculates gains and losses. But my mining transactions that I've imported into cointracking are not calculated with that, since I haven't sold anything I've mined yet.
Is there a way to calculate what my income has been? The IRS says it should be calculated at the point of receipt, so it would be nice if cointracking added up the value of all my mining transactions at the time they were mined. Instead of calculating the current value of all my mining proceeds.
Thanks for the help!!
Are you recording/uploading your transactions from your wallet as "mining" ?
I use this for mining Small-Cap, Alt-coins to a Wallet, no Cointracking API:
1 - I've exported the transaction from the wallet to Excel. (Most wallets have this feature).
2 - I use the Excel file in CT bulk upload:
Type - Mining (I've added this after the export)
Buy - quantity mined,
Currency - the Symbol Mined, like BWK (I've added this after the export)
Exchange - I call each Wallet an exchange - like "BWK Wallet" (I've added this after the export)
Date - make sure that you keep the time stamp from the Wallet.
3 - Back to Cointracking, Enter Coins - Bulk Imports - Excel - [Filename]
4 - Review import and update Cointracking
5 - In Cointracking, Report - Trade Prices - Excel; now the mining has a value attached to each transaction.
6 - In Excel, sort by type (mining) and date (Tax Year). Copy and paste to clean file and there you go, tax file for income earned on mining.
Hope this helps.
March 25, 2018, 10:13:02 PM
I'm having trouble figuring out how to calculate my mining income with cointracking, if someone could help me out.
I can make a tax report which calculates gains and losses. But my mining transactions that I've imported into cointracking are not calculated with that, since I haven't sold anything I've mined yet.
Is there a way to calculate what my income has been? The IRS says it should be calculated at the point of receipt, so it would be nice if cointracking added up the value of all my mining transactions at the time they were mined. Instead of calculating the current value of all my mining proceeds.
Thanks for the help!!
I can make a tax report which calculates gains and losses. But my mining transactions that I've imported into cointracking are not calculated with that, since I haven't sold anything I've mined yet.
Is there a way to calculate what my income has been? The IRS says it should be calculated at the point of receipt, so it would be nice if cointracking added up the value of all my mining transactions at the time they were mined. Instead of calculating the current value of all my mining proceeds.
Thanks for the help!!
Are you recording/uploading your transactions from your wallet as "mining" ?
March 25, 2018, 05:41:42 PM
I'm having trouble figuring out how to calculate my mining income with cointracking, if someone could help me out.
I can make a tax report which calculates gains and losses. But my mining transactions that I've imported into cointracking are not calculated with that, since I haven't sold anything I've mined yet.
Is there a way to calculate what my income has been? The IRS says it should be calculated at the point of receipt, so it would be nice if cointracking added up the value of all my mining transactions at the time they were mined. Instead of calculating the current value of all my mining proceeds.
Thanks for the help!!
I can make a tax report which calculates gains and losses. But my mining transactions that I've imported into cointracking are not calculated with that, since I haven't sold anything I've mined yet.
Is there a way to calculate what my income has been? The IRS says it should be calculated at the point of receipt, so it would be nice if cointracking added up the value of all my mining transactions at the time they were mined. Instead of calculating the current value of all my mining proceeds.
Thanks for the help!!
March 24, 2018, 11:55:47 PM
c'mon guys add XSN already
How about getting Coin Market Cap to list it.It would be great if you could add Phore (PHR) to the Altcoin Wallet Import. It has been listed on CoinMarketCap for six months.
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