Topic: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies - page 68. (Read 122948 times)

Why are BNB fees from trades on Binance not being calculated in the BNB balance?  The fees are correctly imported from Binance for purchases of coins but the BNB fees are not deducted from the total BNB balance?

Just purchased the software and am really impressed. Wish I knew about this earlier, I would be streamed lined already.

I do have a quick question someone might be able to save me some time with.


I have imported all the deposit/withdrawal histories and trade data from one exchange. Having a hard time calculating the proper gains for the year in terms of long/short term tax rate. I have warnings saying x amount of trades have no purchase data so it is assuming the coin was purchased and sold the same day. If the coins deposited came from offline wallets years+ old, What is the best way to correct this manually ?

Any insight would help. Thanks

Hi to the forum!

This might have already been asked/answered and dealt with before, but the search didn't give me any results.

My question is regarding the Trading Fee handling. One can add it into the transactions and get a detailed breakdown by exchanges, etc. However, what seems to have been neglected is taking it into calculations of the transaction amounts. What I mean is that the total amount of a transaction equals the trade activity amount, and not the trade activity amount plus the trading fee. For example, you buy 1 BTC for 8000USD (sell 8000 USD as trading counter part) and pay 80USD in trading fee, hence the exchange has charged you 8080USD for this trade. Once entered, the total amount for this trade will show 8000USD in the different charts and lists, instead of 8080USD. So, eventually all this will result in showing that you have spent less USD in the different charts than what you really have (if the fees were in the cryptocoin itself, the total amount for this coin will not correspond).
Now, if you in the example above instead put 8080USD in the 'Sell Amount', the total amounts will correspond in the different charts (Exchange Assets, etc.). However, the price you paid will NOT be accurate, as in all charts the unit price for this trade will show BTC/USD 8080, instead of the 8000 you actually paid.

So it seems one will have to choose between having either correct amounts / totals, or correct unit prices in the different charts, as both correct at same time doesn't seem to be possible.

Any clues or ideas in regards to this?

Thanks

I'm really, really struggling with this service. It came highly recommended, and is supposed to make taxes easy, but I can't even get my data in right. I have four years of mining/trading (mostly mining) to import and I can't seem to do it. The single biggest problem is that I need to be able to import thousands of mining transactions using a the standard core wallet CSV export and there doesn't seem to be any way to do it.

The custom exchange import could work if there was some way to tell the service that this is mining income and it needs to lookup the average daily price automatically, but there's no way to do that. It's only built for buying and selling on exchanges. In fact the whole service seems to be built around trading, not mining, which is driving me crazy. I already paid for two years of unlimited, and I desperately need the coin tracking and tax services offered, but I can't get my data correct!! Can't import wallet info, exchange API imports are leaving me with wrong balances, etc. In short it's a nightmare. I seriously don't know what to do and they won't/can't answer support questions in a timely matter. April 17th is fast approaching and I'm going to be screwed.

Will you be adding support for Uphold anytime soon - https://uphold.com/en/developer/api

Suggestion to Cointracking

Could you have more advanced total PORTFOLIO charts, reports etc.

I know you have the basic pie chart on the dashboard (but this doesn't show percentages unless you hover over the sections)
It would be better if you had a more adanced pie chart as that's what most people are buying for to see their total percentage allocation.

Also please update more exchanges like Gemini, Binance, Kucoin etc... API

I thought it would be more automated, but I trade constantly and am having to manually download then upload csvl files multiple times a day....

cointracking is showing me a bigger REALIZED GAINS than I ever had, 50% too high, how is this possible ? there seem to be a big problem in their calculation, i entered all my csv, finex kraken so on and it shows me huge gains that I never had, how to solve it

i was thinking all time but is this across accounts? you're right about pos wallets they take the piss on transactions which makes it harder to go through your actual trades sequentially unless you filter your wallets and then you might miss a withdrawal/deposit pair for those exchanges that dont support api or in the case that the api farts

I got the impression it was all time. The unlimited membership is pretty much the way to go if you do a lot of trading, and CoinTracking counts any kind of transaction, including sending from one wallet to another, or mining coin, as a "trade." I have a number of POS-type wallets, and those "trades" sure add up fast.

Hi,
I tried to make a search inside the topic but it looks like it's only possible by forum's boards,I'm sure the answer might be somewhere in the topic so I'm sorry about asking.
I have a question regarding airdrops,my MEW is linked with API and after importing tokens are monitored in Cointracking.
But as it's coming from airdrop I edited the entry income as "gift" but when I go in my "Realized and Unrealized gains" the cost of those tokens are not set to zero,and I don't even understand why there is a value here,as it's a gift and a gift is free.
Did I make something wrong?

I cant say with 100% certainty, but I assumed it was for a year.  If you are expected to purchase/renew the software every year i would assume that counter resets.

Question about pricing:

Max transactions on the various plans, including free - does this mean per day? or as in forever? eg. on the Pro plan I hit 3500 total (all time) transactions, now I can't enter more.

thanks

Hey all.

Is there any known way to import Huobi trades?

Thanks

Just wanted to say thanks for a great software! I've been working very hard consolidating all my trading data into my CT account, and I'm just about done. By next week I should be able to do my taxes.

I'm hoping you can add support for altwallets that run on different explorers than chainz, as well as API support for more exchanges. Other than that, it's awesome.

So I've been playing with these trade groups.  And i can't get it to work.  If i do a test Sell after transferring coins to my wallet from the exchange, and then back to the exchange from my wallet to sell categorizing all of them in the same trade group.  And then run a tax report only filtering on that trade group i get an imbalance and a 0 cost basis.  Saying i don't have a purchase for that sale....

which is the exact problem i had trying to use 2 accounts.  I get it that support is slammed, but it frustrating to try and figure this out with experiments.

So, it's pretty easy to restrict the incoming addresses, but what about "change" addresses?  Yes, I can manually input all outgoing transactions, but that's a big pain.  And, there are sooooo many "change" addresses for the wallet (like 30).  There's got to be a better way.

Formal enhancement request: Let me put in the public key of the wallet and then get all of the transactions for all addresses on that wallet!

Yet another large exchange I want to use (Gemini) not supported.. so glad I paid a premium for this..

Hi all,

I have a minor bug to report (not a huge deal).  When importing coins via "Bulk Import" (either Excel or CSV - I have tried both), the system doesn't
catch duplicate transactions. 

It would be great if it caught them - let me know if this is something that can be fixed or if there is something I can do to make it catch the duplicate entries.
Thanks

How do you guys categorize refunds?

I've been using Miningrigrentals and have them set up as an exchange in cointracking.  When I make a rental I categorize it as spend.  I'm not sure what to categorize a refund/credit.  I've been using gift (because it's not income) but I'm not sure which category is actually correct.

Thanks.

Per support response i got last night

"
thank you for your message.
The linked accounts stay completely separate, there is no recognition of cost basis or purchase pool across them.
Theis can only be achieved if your have both accounts as trading groups in one account.

If you wanted to try and work with two separate account you could only do this by using spent instead of a withdrawal and income instead of a deposits, since they both change the purchase pool / cost basis BUT this would mean everything spent gets calculated with capital gains and every income will appear in your income report, resulting in much higher taxes. So you could use LOST and GIFT instead and exclude those from the gains/tax report, but the water is getting very murky then...



Best regards,
Christiane

Dr. Christiane Williams
CoinTracking Support

(We are currently flooded with support requests. Please excuse any delays.)"




So it looks like i need to research how the trading groups work.  At the end of the day I just want the coins I put in my ledger to have their original cost basis for tax purposes.  But because I'm using FIFO I'm worried i wont be able to achieve this.