@dario3000
Ok, when I go to edit asset values I see the purchase price is way off, so I made the purchase and sale price equal.
But I am noticing a bigger issue with your software.
On many trades, when I look at the purchase and sale price of my trades, there is a huge spread between purchase and sale price like between 10-20%. This doesn't make sense to me. If I am trading 1 BTC for 10 ETH, you shouldn't be using 2 prices for this transaction, shouldn't they be occuring at the same price minus a small trading fee like .25%? I think this is causing all my numbers to be off in your software.
Topic: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies - page 87. (Read 122619 times)
November 02, 2017, 07:07:53 AM
November 02, 2017, 05:23:10 AM
@happy9z:
You need to enter your BTC purchase as well in order to calculate the gain.
Right now it looks like you sold 1.99995106 BTC without ever buying them, which leads to this red warning.
@SteelHead:
The upgrade price is based on USD.
If the BTC price changes, the price on CT will change automatically.
But I will add more decimal places to the price soon, in order to make changes easier to track.
Best,
Dario
You need to enter your BTC purchase as well in order to calculate the gain.
Right now it looks like you sold 1.99995106 BTC without ever buying them, which leads to this red warning.
@SteelHead:
The upgrade price is based on USD.
If the BTC price changes, the price on CT will change automatically.
But I will add more decimal places to the price soon, in order to make changes easier to track.
Best,
Dario
Thanks for the reply...still would prefer a set dollar based price but it's ur baby Dario.
I'am also finding some glitches with my Binance CVS import. BTC & ETH deposits seem to skew reports.
SALT token trades also not showing up?
Platform looks promising though, I'm working out the kinks
November 01, 2017, 11:17:45 PM
@happy9z:
You need to enter your BTC purchase as well in order to calculate the gain.
Right now it looks like you sold 1.99995106 BTC without ever buying them, which leads to this red warning.
@SteelHead:
The upgrade price is based on USD.
If the BTC price changes, the price on CT will change automatically.
But I will add more decimal places to the price soon, in order to make changes easier to track.
Best,
Dario
You need to enter your BTC purchase as well in order to calculate the gain.
Right now it looks like you sold 1.99995106 BTC without ever buying them, which leads to this red warning.
@SteelHead:
The upgrade price is based on USD.
If the BTC price changes, the price on CT will change automatically.
But I will add more decimal places to the price soon, in order to make changes easier to track.
Best,
Dario
Got it, thanks ^_^
November 01, 2017, 06:12:00 PM
@happy9z:
You need to enter your BTC purchase as well in order to calculate the gain.
Right now it looks like you sold 1.99995106 BTC without ever buying them, which leads to this red warning.
@SteelHead:
The upgrade price is based on USD.
If the BTC price changes, the price on CT will change automatically.
But I will add more decimal places to the price soon, in order to make changes easier to track.
Best,
Dario
You need to enter your BTC purchase as well in order to calculate the gain.
Right now it looks like you sold 1.99995106 BTC without ever buying them, which leads to this red warning.
@SteelHead:
The upgrade price is based on USD.
If the BTC price changes, the price on CT will change automatically.
But I will add more decimal places to the price soon, in order to make changes easier to track.
Best,
Dario
November 01, 2017, 06:05:49 PM
CT
You guys really need to set a firm price for your software. Bitcoin is going through the roof and your pricing goes right with it.
You guys really need to set a firm price for your software. Bitcoin is going through the roof and your pricing goes right with it.
November 01, 2017, 03:00:48 PM
Quote
Sell of 1.99995106 BTC for 20.09090151 ETH at Bittrex 31.05.2017 16:09:02
Sell of 1.99995106 BTC
There is no suitable purchase to this sale (all purchasing pools consumed). Assuming purchase on the same day for 0 USD.
Cost Basis: 0 USD
Proceeds: 4,611.43 USD (Price: 2305.77000000 USD / BTC)
Gain/Loss: 4,611.43 USD
Tax: 691.71 USD | Short-Term
Sell of 1.99995106 BTC
There is no suitable purchase to this sale (all purchasing pools consumed). Assuming purchase on the same day for 0 USD.
Cost Basis: 0 USD
Proceeds: 4,611.43 USD (Price: 2305.77000000 USD / BTC)
Gain/Loss: 4,611.43 USD
Tax: 691.71 USD | Short-Term
Hi Cointracking,
This is from TAX REPORT tab from cointracking. On 05/31/17, I transferred 1.99995106 BTC to buy 20.09090151 ETH. This date is the first date I transferred BTC to bittrex. I only bought and didn't sell. However, I see the Gain $4,611.43 USD, and Cost Basis is $0.
The cost basic should be $4,611.43, and the gain should be $0. Is there something wrong with the report? and How can I fix?
Thanks,
November 01, 2017, 08:58:26 AM
@Daled12:
I guess the ICO price is wrong or missing on that date.
Can you please go to the "Enter Coins" page, select your ICO sale transaction, click on "edit" and then on "edit Asset value".
This way you can update the value of your ICO token on that date.
@wizardofwhere:
The author is referring to the PRO lifetime package, which is at $325.
Best,
Dario
I guess the ICO price is wrong or missing on that date.
Can you please go to the "Enter Coins" page, select your ICO sale transaction, click on "edit" and then on "edit Asset value".
This way you can update the value of your ICO token on that date.
@wizardofwhere:
The author is referring to the PRO lifetime package, which is at $325.
Best,
Dario
November 01, 2017, 06:55:55 AM
Hey
I was reading a forbes article where it shows the cost of cointracking software at #325 but the website shows it at .4 BTC which is like $2600 or so. Which is correct: Here is the article
https://www.forbes.com/sites/greatspeculations/2017/10/31/smart-tax-accounting-moves-for-cryptocurrency-traders/2/#3a69a1b117c9
Thx
I was reading a forbes article where it shows the cost of cointracking software at #325 but the website shows it at .4 BTC which is like $2600 or so. Which is correct: Here is the article
https://www.forbes.com/sites/greatspeculations/2017/10/31/smart-tax-accounting-moves-for-cryptocurrency-traders/2/#3a69a1b117c9
Thx
November 01, 2017, 01:21:07 AM
Hi Dario,
I am having an issue recording a purchase of an ICO token on the tax report, but it does not involve the price of the ICO token, it is a problem with the ETH I used to purchase the token.
1. On July 3, I purchased some ETH on bittrex. It is recorded properly, and the cost recorded in the tax report is correct, about $300 per ETH.
2. And then, also on July 3, I recorded a withdrawal from my wallet and a deposit to the tezos ICO. I named the destination exchange the tezos ICO.
3. Also on July 3, then I recorded a trade, buying the tezos with ETH. The exchange is called the tezos ICO.
The problem is, on the tax report, I am using LIFO, I see a sale price of my ETH as more than double than my purchase price. It is calculating that my sale price for ETH is about $600, which is obviously incorrect. ETH did not go from 300 to 600 on July 3rd.
I am not sure if I am recording this transaction correctly, or is there an error in your pricing database?
Thanks for your response.
EDIT: This was using transaction prices, when I use best prices, I get a normal result. So now my question is, how can there be such a difference between 2 pricing methods?
I am having an issue recording a purchase of an ICO token on the tax report, but it does not involve the price of the ICO token, it is a problem with the ETH I used to purchase the token.
1. On July 3, I purchased some ETH on bittrex. It is recorded properly, and the cost recorded in the tax report is correct, about $300 per ETH.
2. And then, also on July 3, I recorded a withdrawal from my wallet and a deposit to the tezos ICO. I named the destination exchange the tezos ICO.
3. Also on July 3, then I recorded a trade, buying the tezos with ETH. The exchange is called the tezos ICO.
The problem is, on the tax report, I am using LIFO, I see a sale price of my ETH as more than double than my purchase price. It is calculating that my sale price for ETH is about $600, which is obviously incorrect. ETH did not go from 300 to 600 on July 3rd.
I am not sure if I am recording this transaction correctly, or is there an error in your pricing database?
Thanks for your response.
EDIT: This was using transaction prices, when I use best prices, I get a normal result. So now my question is, how can there be such a difference between 2 pricing methods?
October 31, 2017, 05:34:15 PM
Dear Cointracking,
I imported from Bittrex and it shows all my trades. Does cointracking support Bitcoin Cash? I traded BTC/BCH on Bittrex, but I dont see any amount under Realized Gain/Loss ? Are Trading Fees included in Realized Gain/Loss ?
If trading fees are not included, so the taxable amount = Realized Gain/Loss - trading fees. Am I correct?
Thanks,
CoinTracking supports Bitcoin Cash, but most exchanges do not list the amount you have received on the day of the split. You will need to add this single transaction manually.I imported from Bittrex and it shows all my trades. Does cointracking support Bitcoin Cash? I traded BTC/BCH on Bittrex, but I dont see any amount under Realized Gain/Loss ? Are Trading Fees included in Realized Gain/Loss ?
If trading fees are not included, so the taxable amount = Realized Gain/Loss - trading fees. Am I correct?
Thanks,
All values on CT are including the fee, that's why it's also included in the realized gain.
October 31, 2017, 01:07:13 PM
Dear Cointracking,
I imported from Bittrex and it shows all my trades. Does cointracking support Bitcoin Cash? I traded BTC/BCH on Bittrex, but I dont see any amount under Realized Gain/Loss ? Are Trading Fees included in Realized Gain/Loss ?
If trading fees are not included, so the taxable amount = Realized Gain/Loss - trading fees. Am I correct?
Thanks,
I imported from Bittrex and it shows all my trades. Does cointracking support Bitcoin Cash? I traded BTC/BCH on Bittrex, but I dont see any amount under Realized Gain/Loss ? Are Trading Fees included in Realized Gain/Loss ?
If trading fees are not included, so the taxable amount = Realized Gain/Loss - trading fees. Am I correct?
Thanks,
October 31, 2017, 08:58:55 AM
Hello,
The value seems correct, but I'm not sure if you can already sell your ETRUST on Yobit.
I'm pretty sure the price will change once it will be listed on other exchanges.
Maybe I'm wrong, but I guess it will be less at the end
But yes, you are right. You will have to pay taxes on the realized gain.
Unrealized gain is not taxable and will become realized gain once you sell your assets.
If you need more, let us know please.
Right now we support 20 Bitshare assets on CoinTracking (like OBITS, bitCNY, Bitland, OracleChain and so on).
More assets will be added soon.
Please send us a support ticket and we will help you asap. (Support -> Contact & FAQ)
Best,
Dario
Hello!
I participated in the AIRDROP Ethereum Trust Fund ( https://bitcointalksearch.org/topic/annairdrop-round-1-closed-ethereum-trust-fund-etrust-noico-2267024 ) and I was showered with 20,000.00 ETRUST
CoinTracking says that these coins are worth $58000.00 !!!
I made an application on my birthday, but I do not believe in such generosity. I could not find the true value of these coins.
If you tell me, there is no mistake in this, I will buy you a full subscription for 100 years.
This is not urgent, only if you have time.
Thank you! CoinTracking is good service.
Right now, ETRUST is only listed on Yobit with $2.59 per asset.I participated in the AIRDROP Ethereum Trust Fund ( https://bitcointalksearch.org/topic/annairdrop-round-1-closed-ethereum-trust-fund-etrust-noico-2267024 ) and I was showered with 20,000.00 ETRUST
CoinTracking says that these coins are worth $58000.00 !!!
I made an application on my birthday, but I do not believe in such generosity. I could not find the true value of these coins.
If you tell me, there is no mistake in this, I will buy you a full subscription for 100 years.
This is not urgent, only if you have time.
Thank you! CoinTracking is good service.
The value seems correct, but I'm not sure if you can already sell your ETRUST on Yobit.
I'm pretty sure the price will change once it will be listed on other exchanges.
Maybe I'm wrong, but I guess it will be less at the end
I just create an account with cointracking.info. I already input csv from bittrex. For paying tax, I go to Reporting—>Realized and Unrealized Gains. This shows me 2 sections :
1) Unrealized Gain/Loss
2) Realized Gain/Loss
So for the tax purpose, I need to pay the tax for the amount on Realized Gain/Loss in this section. Am I correct?
You can start the Tax-Report to see all details.1) Unrealized Gain/Loss
2) Realized Gain/Loss
So for the tax purpose, I need to pay the tax for the amount on Realized Gain/Loss in this section. Am I correct?
But yes, you are right. You will have to pay taxes on the realized gain.
Unrealized gain is not taxable and will become realized gain once you sell your assets.
Thanks for the reply.
Is there a limit to how many portfolios we can create and join to the same (unlimited) account?
Do you have, or will you add support for assets hosted on the Bitshares platform?
You can link up to 10 accounts.Is there a limit to how many portfolios we can create and join to the same (unlimited) account?
Do you have, or will you add support for assets hosted on the Bitshares platform?
If you need more, let us know please.
Right now we support 20 Bitshare assets on CoinTracking (like OBITS, bitCNY, Bitland, OracleChain and so on).
More assets will be added soon.
Dear CoinTracking,
Our balances are totally off and we imported the right files. We have a paid account, could you help us or have an email where we contact us?
In our wallet you dont even see out bitcoin and other currencies are double.
Kind Regards
Sure, I guess some transactions are missing.Our balances are totally off and we imported the right files. We have a paid account, could you help us or have an email where we contact us?
In our wallet you dont even see out bitcoin and other currencies are double.
Kind Regards
Please send us a support ticket and we will help you asap. (Support -> Contact & FAQ)
Best,
Dario
October 31, 2017, 05:24:13 AM
Dear CoinTracking,
Our balances are totally off and we imported the right files. We have a paid account, could you help us or have an email where we contact us?
In our wallet you dont even see out bitcoin and other currencies are double.
Kind Regards
Our balances are totally off and we imported the right files. We have a paid account, could you help us or have an email where we contact us?
In our wallet you dont even see out bitcoin and other currencies are double.
Kind Regards
October 30, 2017, 03:49:46 PM
If I upload CSV files to sync from Exodus, will it keep syncing later on, or will I have to upload CSV files regularly?
Hey Propagandalf,A CSV file is just a text document with the transactions at the time of the download.
It can not sync automatically and you will have to import new files once there are new transactions in your wallet.
But you can try the BTC Wallet Import, which can automatically import all your transactions from a Coin address.
Best,
Dario
Thanks for the reply.
Is there a limit to how many portfolios we can create and join to the same (unlimited) account?
Do you have, or will you add support for assets hosted on the Bitshares platform?
October 29, 2017, 11:15:10 PM
I just create an account with cointracking.info. I already input csv from bittrex. For paying tax, I go to Reporting—>Realized and Unrealized Gains. This shows me 2 sections :
1) Unrealized Gain/Loss
2) Realized Gain/Loss
So for the tax purpose, I need to pay the tax for the amount on Realized Gain/Loss in this section. Am I correct?
1) Unrealized Gain/Loss
2) Realized Gain/Loss
So for the tax purpose, I need to pay the tax for the amount on Realized Gain/Loss in this section. Am I correct?
October 28, 2017, 11:12:07 AM
Hello!
I participated in the AIRDROP Ethereum Trust Fund ( https://bitcointalksearch.org/topic/annairdrop-round-1-closed-ethereum-trust-fund-etrust-noico-2267024 ) and I was showered with 20,000.00 ETRUST
CoinTracking says that these coins are worth $58000.00 !!!
I made an application on my birthday, but I do not believe in such generosity. I could not find the true value of these coins.
If you tell me, there is no mistake in this, I will buy you a full subscription for 100 years.
This is not urgent, only if you have time.
Thank you! CoinTracking is good service.
I participated in the AIRDROP Ethereum Trust Fund ( https://bitcointalksearch.org/topic/annairdrop-round-1-closed-ethereum-trust-fund-etrust-noico-2267024 ) and I was showered with 20,000.00 ETRUST
CoinTracking says that these coins are worth $58000.00 !!!
I made an application on my birthday, but I do not believe in such generosity. I could not find the true value of these coins.
If you tell me, there is no mistake in this, I will buy you a full subscription for 100 years.
This is not urgent, only if you have time.
Thank you! CoinTracking is good service.
October 27, 2017, 06:20:57 PM
Hey and thanks for the help last time.
I was wondering if it's possible to have 2 portofolios on one account, one for long term holds and one for trading for example?
Thank you!
Yes, it is I was wondering if it's possible to have 2 portofolios on one account, one for long term holds and one for trading for example?
Thank you!
You can create a second account and join both of them. (Account -> Settings -> Join multiple accounts)
This way you will be able to switch your accounts with just one click.
Best
Dario
October 27, 2017, 06:17:31 PM
Hey and thanks for the help last time.
I was wondering if it's possible to have 2 portofolios on one account, one for long term holds and one for trading for example?
Thank you!
I was wondering if it's possible to have 2 portofolios on one account, one for long term holds and one for trading for example?
Thank you!
October 27, 2017, 11:48:13 AM
If I upload CSV files to sync from Exodus, will it keep syncing later on, or will I have to upload CSV files regularly?
Hey Propagandalf,A CSV file is just a text document with the transactions at the time of the download.
It can not sync automatically and you will have to import new files once there are new transactions in your wallet.
But you can try the BTC Wallet Import, which can automatically import all your transactions from a Coin address.
Best,
Dario
October 27, 2017, 05:06:50 AM
If I upload CSV files to sync from Exodus, will it keep syncing later on, or will I have to upload CSV files regularly?
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