Thanks .
So for tax purposes there's really no need to create a Custom Price for each NFT then?
I have been setting one to match my buy price.
Cheers
Topic: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies - page 8. (Read 121790 times)
March 17, 2022, 09:18:20 PM
March 17, 2022, 04:22:36 AM
@matblam
A: No, they are not.
B: No, asset value is the value when you buy/sell it. Custom price is the current value (with no price history for unlisted assets).
C: Asset values are more important for capital gain/loss calculation.
See this article: "How to add NFT or IDO transactions" (https://cointracking.freshdesk.com/a/solutions/articles/29000038312?lang=en)
A: No, they are not.
B: No, asset value is the value when you buy/sell it. Custom price is the current value (with no price history for unlisted assets).
C: Asset values are more important for capital gain/loss calculation.
See this article: "How to add NFT or IDO transactions" (https://cointracking.freshdesk.com/a/solutions/articles/29000038312?lang=en)
March 16, 2022, 10:17:52 PM
Hi 
Adding a new Token/Coin/NFT question:
These questions relate to adding a NEW NFT as a "NEW Coin"
A- Are "Edit Asset Value" and "Custom Price For Currency" not the same thing? I notice one is not auto populated when I fill the other.
B- Should the "Custom Price For Currency" be set to exactly the same as I set "Edit Asset Value"? (I set this as the purchase price when adding a NFT)
C - Is it a problem if I do not set both of these? Which is the most important?
Thanks
Adding a new Token/Coin/NFT question:
These questions relate to adding a NEW NFT as a "NEW Coin"
A- Are "Edit Asset Value" and "Custom Price For Currency" not the same thing? I notice one is not auto populated when I fill the other.
B- Should the "Custom Price For Currency" be set to exactly the same as I set "Edit Asset Value"? (I set this as the purchase price when adding a NFT)
C - Is it a problem if I do not set both of these? Which is the most important?
Thanks
March 12, 2022, 05:33:17 AM
@dolphintree
We have a FAQ with options here: "Lending / borrowing crypto or sending to / receiving from a friend - which transaction types should I use?" (https://cointracking.freshdesk.com/a/solutions/articles/29000029374?lang=en)
We have a FAQ with options here: "Lending / borrowing crypto or sending to / receiving from a friend - which transaction types should I use?" (https://cointracking.freshdesk.com/a/solutions/articles/29000029374?lang=en)
March 11, 2022, 01:52:26 PM
hi. if i transferred my assets to my spouses exchange what is the best way to handle this in coin tracking?
another company said to label them as gift.
is that what you would do?
another company said to label them as gift.
is that what you would do?
March 11, 2022, 04:36:45 AM
@Flea_man
please send us a ticket/E-Mail with example screenshots from your KuCoin account.
For now please adjust those transactions manually as described here: "Loans and their repayments" (https://cointracking.freshdesk.com/a/solutions/articles/29000033408?lang=en)
please send us a ticket/E-Mail with example screenshots from your KuCoin account.
For now please adjust those transactions manually as described here: "Loans and their repayments" (https://cointracking.freshdesk.com/a/solutions/articles/29000033408?lang=en)
March 10, 2022, 05:35:02 PM
Hi,
It looks like the KuCoin API now imports loans. But this messes up capital gains calcualations. loans out are withdrawels (which dont count as a disposal), but when they are paid back, the whole amount (the loan plus interest) is read in as "other income". Only the intrest should be income, the returned loan should be a deposit. This other income as it is then creates astronmical unrealised gains!
Can this be rectified to record loans properly or else switched off? I have tired turnign on only trades, but this still records the loan repayment incorectly as income.
It looks like the KuCoin API now imports loans. But this messes up capital gains calcualations. loans out are withdrawels (which dont count as a disposal), but when they are paid back, the whole amount (the loan plus interest) is read in as "other income". Only the intrest should be income, the returned loan should be a deposit. This other income as it is then creates astronmical unrealised gains!
Can this be rectified to record loans properly or else switched off? I have tired turnign on only trades, but this still records the loan repayment incorectly as income.
March 10, 2022, 05:53:53 AM
Yes, you can still use the old importer unless you have valid job there.
Please check the new FAQ here as well regarding how LP are imported: https://cointracking.freshdesk.com/en/support/solutions/articles/29000040323-import-of-liquidity-pool-mining-transactions
Please check the new FAQ here as well regarding how LP are imported: https://cointracking.freshdesk.com/en/support/solutions/articles/29000040323-import-of-liquidity-pool-mining-transactions
March 09, 2022, 04:10:24 PM
The new way to manage liquidity pools make 0 sense to me.
Why a deposit into a liquidity pool is considered as an expense and then as a taxable event? When I deposit something into a pool is a Deposit, I'm not expending my coins, I'm depositing them in a pool.
Is it possible to choose the old method as default?
Why a deposit into a liquidity pool is considered as an expense and then as a taxable event? When I deposit something into a pool is a Deposit, I'm not expending my coins, I'm depositing them in a pool.
Is it possible to choose the old method as default?
March 08, 2022, 04:26:38 AM
Updates and Improvements
API
- OKEX (Staking transactions and other improvements)
- FTX (support for internal stable coin swaps + USD stable coin pools)
- Celsius (fixed rounding issues for interest payments)
- Bybit (support for Spot trades and transfers)
- Kraken (Earn ETH update)
- KuCoin (new API version)
CSV
- Binance (support for full-year files)
- OKEX (Staking transactions and other improvements)
- Kraken (Earn ETH update)
- Celsisus (update for transfers)
Blockchain
- improvements for BSC, ETH and AVAX
- SOLANA import E-Mail notification added
- new ETH Import version and support of deflationary tokens
Other
- Several Ticker updates for correct assignments and price history
- CSV exports now also contain the Tx-ID
- new partner benefits
Source: https://cointracking.info/new_features.php
API
- OKEX (Staking transactions and other improvements)
- FTX (support for internal stable coin swaps + USD stable coin pools)
- Celsius (fixed rounding issues for interest payments)
- Bybit (support for Spot trades and transfers)
- Kraken (Earn ETH update)
- KuCoin (new API version)
CSV
- Binance (support for full-year files)
- OKEX (Staking transactions and other improvements)
- Kraken (Earn ETH update)
- Celsisus (update for transfers)
Blockchain
- improvements for BSC, ETH and AVAX
- SOLANA import E-Mail notification added
- new ETH Import version and support of deflationary tokens
Other
- Several Ticker updates for correct assignments and price history
- CSV exports now also contain the Tx-ID
- new partner benefits
Source: https://cointracking.info/new_features.php
March 06, 2022, 05:30:05 AM
Yes of course. Withdrawal first, then deposit.
We do not recommend to track FIAT deposits or withdrawals. Either you do that everywhere or nowhere in your account. (https://cointracking.freshdesk.com/a/solutions/articles/29000018265?lang=en)
We do not recommend to track FIAT deposits or withdrawals. Either you do that everywhere or nowhere in your account. (https://cointracking.freshdesk.com/a/solutions/articles/29000018265?lang=en)
March 06, 2022, 05:27:27 AM
So, even if say a deposit was at 12:00:00 and the withdraw was at 12:02:00, I would still need to correct it? I ask because I know the amount at the time of withdraw and deposit would be pretty much exact.
My other question is, if I sold a coin to USD and then had that USD profit transferred to my bank account, do I need to show an entry of that? I already have an entry for the withdraw, deposit and trade of the coin to USD.
Thank you
My other question is, if I sold a coin to USD and then had that USD profit transferred to my bank account, do I need to show an entry of that? I already have an entry for the withdraw, deposit and trade of the coin to USD.
Thank you
March 06, 2022, 04:52:18 AM
You are welcome @vampyz
They have to be in the correct order especially for depot/lot separation. (https://cointracking.freshdesk.com/a/solutions/articles/29000038566?lang=en)
Withdrawal first, then deposit always or at least at the same time. So it could happen that you need to adjust those manually.
They have to be in the correct order especially for depot/lot separation. (https://cointracking.freshdesk.com/a/solutions/articles/29000038566?lang=en)
Withdrawal first, then deposit always or at least at the same time. So it could happen that you need to adjust those manually.
March 05, 2022, 10:00:43 PM
@andreas_cointracking
I see thank you.
If a deposit and withdraw time stamps are off, does that affect the program's calculations? For example, 1 BTC withdrawn 3/5/2022 12:00:00 and then another entry with 1 BTC deposit 3/5/2022 12:15:00
Thanks
I see thank you.
If a deposit and withdraw time stamps are off, does that affect the program's calculations? For example, 1 BTC withdrawn 3/5/2022 12:00:00 and then another entry with 1 BTC deposit 3/5/2022 12:15:00
Thanks
March 03, 2022, 04:21:11 AM
@vampyz
We recommend using the default asset value of CoinTracking and keep them untouched. You can check your transactions and click "take over data" of your trades if needed.
See our FAQ "Fiat, coin and commodities price sources, individual exchange price, change Fiat account Currency" (https://cointracking.freshdesk.com/a/solutions/articles/29000007214?lang=en)
We recommend using the default asset value of CoinTracking and keep them untouched. You can check your transactions and click "take over data" of your trades if needed.
See our FAQ "Fiat, coin and commodities price sources, individual exchange price, change Fiat account Currency" (https://cointracking.freshdesk.com/a/solutions/articles/29000007214?lang=en)
March 03, 2022, 03:26:59 AM
Hello, I had a question about when I fix my trade entries for the buy and sell value in USD. When a coin fatfingers (goes drastically down or up) and comes back to normal price, I was curious how I fix the buy/sell price for that appropriate trade.
For instance, UNI went to $6.001 which I had bought, then quickly went back to normal price at $26.4872. When I go to that trade entry, I assume the "Buy value in USD" I will change to "6.001" and leave the "Sell value in USD". Is this correct?
Also, if the opposite happens (price goes drastically up then back to normal), do I change the "Sell value in USD" to reflect the price I had sold the coin in?
Thank you.
For instance, UNI went to $6.001 which I had bought, then quickly went back to normal price at $26.4872. When I go to that trade entry, I assume the "Buy value in USD" I will change to "6.001" and leave the "Sell value in USD". Is this correct?
Also, if the opposite happens (price goes drastically up then back to normal), do I change the "Sell value in USD" to reflect the price I had sold the coin in?
Thank you.
February 27, 2022, 06:41:11 AM
Hopefully this year. We are working on MEXC already. Thank you for your patience.
Once there are news we share them on our new features pages (and then here as well) as always.
Once there are news we share them on our new features pages (and then here as well) as always.
February 27, 2022, 06:38:22 AM
When support for Arbitrum?
When support for Moonriver?
When support for MEXC?
When support for Moonriver?
When support for MEXC?
February 24, 2022, 05:12:11 AM
@atkins69
Then transactions are missing or wrongly added. Please validate your account as described here: How to validate my account? (https://cointracking.freshdesk.com/a/solutions/articles/29000035339?lang=en)
Then transactions are missing or wrongly added. Please validate your account as described here: How to validate my account? (https://cointracking.freshdesk.com/a/solutions/articles/29000035339?lang=en)
February 23, 2022, 01:59:46 PM
Hello,
this is my first time here and I have a question about Cointracking, maybe someone can help me.
When I generate the Tax Report there are some values missing or not entered under the right exchange.
For example I have coins that if I check in "Balance by Exchange" in Cointracking, they are correctly placed in my Ledger Live.
But when I export the Tax Report, in the last page under "Holding summary by incoming exchange", it doesn't insert these coins under the exchange "Ledger Live" but they are placed under other exchanges, (Ledger live is not even mentioned).
If they are placed correctly in "Balance by Exchange" on Cointracking, why do they change in the Tax Report?
Thanks in advance
A.
this is my first time here and I have a question about Cointracking, maybe someone can help me.
When I generate the Tax Report there are some values missing or not entered under the right exchange.
For example I have coins that if I check in "Balance by Exchange" in Cointracking, they are correctly placed in my Ledger Live.
But when I export the Tax Report, in the last page under "Holding summary by incoming exchange", it doesn't insert these coins under the exchange "Ledger Live" but they are placed under other exchanges, (Ledger live is not even mentioned).
If they are placed correctly in "Balance by Exchange" on Cointracking, why do they change in the Tax Report?
Thanks in advance
A.
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