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Topic: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies - page 75. (Read 122389 times)

newbie
Activity: 21
Merit: 0
I have some trades with extreme spread ranging from 20-65%. Most of my spreads are in the range of +/- 0-1%, but I don't know how to deal with the extreme outliers. The most extreme trades are USDT/TRX, USDT/XDN, but some of the trades with a spread in the range 5-20% are also more mainstream currencies like USDT/ZEC and USDT/XMR.

Am I supposed to correct for these somehow, or do I leave them alone? Could these extreme values explain why my average purchase price of USDT is way off, like almost 350 regular USD?

If I should correct for this, how would be the best way to do this? Where could I find the "real" value of the coin in question?
newbie
Activity: 49
Merit: 0
Hi,

In unrealized gain section, do you know how is calculated the USD value? The btc seems correct but i dont reconcile in USD. Its seems off.

thanks



Thank you for the reply.  I guess this makes sense.  I'm used to stocks.  Everything is USD Wink

newbie
Activity: 2
Merit: 0
Hi,

In unrealized gain section, do you know how is calculated the USD value? The btc seems correct but i dont reconcile in USD. Its seems off.

thanks

newbie
Activity: 21
Merit: 0
I'm hoping someone can help me understand how the local currency works.  I'm in USD
I have setup the API for all my exchanges and wallets.
I have a couple of questions.

1.  There is a check box on the API that says "Skip withdraws and deposits in USD"
I don't understand what this is for.  Its on by default so I am assuming I want it on.   Can someone explain this?


2. is a bit more complex and may be a side effect from question 1.

So I originally put $700 into Coinbase.  That was my buy in for the crypto world.  This is all the money I have ever put in.  I converted this to either ETH and BTC.  From there I have moved it around to various exchanges and made multiple trades. 
When I'm the current balance report page.  My total value of all currencies says -700USD. and it takes this away from my total balance.
So it shows the total value of all coins which is correct.  Then -700 USD and then my total account value which now shows value of coins - USD.  So the Total Account Value is off by $700

Shouldn't the value of my USD just be 0??   all that cash was converted to BTC and ETH and those transactions were captured.


I think I know the answer to your second question. When you bought your first BTC or ETH using your 700USD, in essence you "lost" your USD and "gained" BTC. So even when you then trade your BTC with other coins later, you're still down your original 700USD...until you one day sell your cryptos for USD again. It wouldn't be correct if you regarded your original investment of 700USD as free. In reality, it actually cost you 700USD, and that's why you have a negative USD balance.
newbie
Activity: 3
Merit: 0
Thanks to everyone for sharing their experience here; reading through has helped.

I noticed that CoinTracking recently updated their Coinbase API imports. I read previously that it had issues, so hoping this fixed them. It seems that everything so far is correct (buys, deposits - no sells) on mine except for withdrawals.

For example, I sent BTC from Coinbase to Bittrex and my Coinbase log shows a withdrawal of .00691088 BTC with a fee of .00041088 BTC. This means .0065 BTC was actually transferred to my  Bittrex address.

However, CoinTracking shows an incorrect withdrawal of 0.00608912 BTC, with a matching fee of .00041088.

Any idea what is going on or where this number is coming from? Neither adding nor subtracting the fee to the incorrect withdrawal number comes to it. I double checked my Coinbase API permissions match the required 'read' items per CoinTracking.

Thanks!
newbie
Activity: 62
Merit: 0
I'm getting wrong numbers from bitfinex margin import & the BT1/BT2 coinsplit sage - anyone else?

My margin trades arent even importing right now.  Waiting on reply from support...  The job box says imports: 0.  Did your trades actually import?
newbie
Activity: 2
Merit: 0
Guys,

where can I delete all the trades from one exchange?
newbie
Activity: 49
Merit: 0
I'm hoping someone can help me understand how the local currency works.  I'm in USD
I have setup the API for all my exchanges and wallets.
I have a couple of questions.

1.  There is a check box on the API that says "Skip withdraws and deposits in USD"
I don't understand what this is for.  Its on by default so I am assuming I want it on.   Can someone explain this?


2. is a bit more complex and may be a side effect from question 1.

So I originally put $700 into Coinbase.  That was my buy in for the crypto world.  This is all the money I have ever put in.  I converted this to either ETH and BTC.  From there I have moved it around to various exchanges and made multiple trades. 
When I'm the current balance report page.  My total value of all currencies says -700USD. and it takes this away from my total balance.
So it shows the total value of all coins which is correct.  Then -700 USD and then my total account value which now shows value of coins - USD.  So the Total Account Value is off by $700

Shouldn't the value of my USD just be 0??   all that cash was converted to BTC and ETH and those transactions were captured.
sr. member
Activity: 896
Merit: 290
Just like the exchanges they are overwhelmed...the spread and rise of crypto has effected every facet of the industry.

Check out their support page, they were saying back in the beginning of December that they were behind and training new staff, crazy growth.

Looks like the IRS will get hit with a monumental wave of people trying to comply with their crypto gains/activity from 2017, will be interesting to see how it pans out.
full member
Activity: 173
Merit: 100
I'm getting wrong numbers from bitfinex margin import & the BT1/BT2 coinsplit sage - anyone else?
newbie
Activity: 3
Merit: 0

Hello! Faced a problem, the current price of the coin IOTA is displayed in the wrong format.

https://preview.ibb.co/jJxVj6/image.png
newbie
Activity: 1
Merit: 0
I am not sure what is the best way to enter transactions from a miner hosting service (Gigawatt - https://www.giga-watt.com)

The report that Gigawatt generates include, among other types of the transactions, entries for the mining rewards and separate entries for the hosting fees (both in units of the coin mined). The two entries may have different timestamps. Also, multiple hosting fee entries can appear before a mining reward entry is shown; again, each entry with different timestamps. Thus, there is not a one-to-one relationship between mining rewards and hosting fees.

The question is: what approach would you suggest to enter the hosting fees?

I thought about entering the hosting fee in Cointracker as a "[In] Mining" transaction with a negative value; however, I am not sure if this will cause unintended issues.

Appreciate your feedback.
newbie
Activity: 4
Merit: 0
It would be appreciated if the Cointracking.info could pull the market price of BIS from CoinMarketCap.com rather than WorldCoinindex or wherever it is pulling it from. Its over 20% low.... All the time.

Its only listed on Cryptopia so we shouldn't see massive differences outside of sync delays.

BIS 0.00048199 on Cointracking.info and WorldCoinIndex

BIS 0.00062395 on Cryptopia
BIS 0.00062299 on CoinMarketCap

Other than that.... Cointracking.info does the job.

EDIT: Sent an query to CoinWorldIndex about their BIS market price and within 20 minutes it shot up in sync with Cryptopia. And so did my portfolio. We'll see if it sticks.



newbie
Activity: 2
Merit: 0
Hi
I noted that when cointracking shows my unrealized P&L gains in Bitcoin at 0.65..  but if I switch to EUR it becomes around EUR 5000... how is that possible? Why this difference?
newbie
Activity: 49
Merit: 0
Is it possible to get a demo of the pro product? I want to test the API's etc. and make sure i like the product before I purchase it. 
I know I can test using the free account however i don't want to take the time to manually do things only to redo them later with the API if/when i buy it.
jr. member
Activity: 40
Merit: 13
How do I import my yobit transaction I have over 7000 transactions and I am having trouble going page by page copy and paste each page into excel because when I get to some page and it said "No Records" I have to go back from the beginning I have over 500 pages and seems impossible job.
I've tried with an API in coin tracking and I am getting nothing no transactions at all

any suggestions  
full member
Activity: 154
Merit: 100
website:https://4coingigs.com/
Buy and sell services for Coins-Bitcoins,Ripple, Bytecoin
World's best microjob marketplace Pay and get paid with crypto coins
full member
Activity: 294
Merit: 104
Is there any way to auto import Ark wallets without having to do manually? It seems that the supported wallets are all old stuff.
newbie
Activity: 62
Merit: 0
Some of our new features, we have worked on and released the last few weeks. Enjoy Smiley

New Imports:
- Bitfinex (supports now Orders and Margin Trades)

Hi Dario,

Thanks for making this website.  I purchased a 1 year license the other day to help me do my taxes for 2017.  I have been margin trading on bitfinex this year, and when I import my bitfinex trades, I get a wildely inaccurate balance of my current coin holdings.  This makes me think that something is wrong with the bitfinex import and margin trades.

Dont you also need to import the wallet reports from bitfinex to match all the margin fees that are taken out daily?  I think this is counted separately from the trade fee column in the trade report.

I'm really hoping we can get this sorted out because I have a massive headache on my hands right now.  I cant seem to find a service that works for importing bitfinex margin trade data.

I sent an email to your support but thought Id post here as well...

Thanks in advance!

Yeah, I got the same issues with Bitfinex margin trades. Did you get a reply from support?

I actually got a reply from their support today.  Took around 3 days to hear back, but it said to expect that kind of wait time right on their website for this type of question due to overloading.

But good news, apparently last night they added the ability to import everything from bitfinex through the API, including margin trades and what cointracking is calling profits/losses (credit payments)!!  Not 100% sure what that means... but it looks like they are now trying to support all the data on bitfinex instead of just exchange data.

Now, I've tried the import with the API and it doesnt seem to be importing anything right now.  Imports are at 0.  I tried importing twice now and it still reads Imports: 0 in the bitfinex job item on their website.  I have on the order of tens of thousands of trades from my trading bot, so I am going to let this 2nd import sit for a while because maybe they are just slow to process it all.

If I dont see any results come through in a few hours, Ill shoot an email back to the support team to let them know it doesnt seem to be working for me.  Hopefully they can get this sorted out, because if they actually were able to cook this up, it will be a true life saver for me and my accounting.
newbie
Activity: 1
Merit: 0
Hi,

First of all, loving the software, it has been a major source of relief in helping me to track my portfolio.

I tried searching through the forum to see if my question has been answered but I was unable to find anything. As a UK citizen I want to ensure my trades and balances are stated in GBP. I sold some coins for EUR however I don't feel the EUR is being converted into GBP correctly. For example on 07/01/2018 I can see a EUR/GBP rate of 0.90089720 for one of my sales. In GBP/EUR terms this is 1.11. Every source I have looked at provides a rate of around 1.1279/1.1277. This is quite a big difference especially when big sums are involved.

Can you let me know what source is used to generate the FX rates in Cointracking, and if there is any plan on getting the FX rate more in line?

Also is there any planned work to get the software fit for the UK tax regime? I've done a bit of reading up on it and it seems a bit more complicated then using LIFO/FIFO/AVCO etc. There is a concept of a S.104 pool.

Thanks
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