CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies - page 95.

jt42

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Quote from: Dario3000 on August 16, 2017, 03:38:24 PM

Quote from: EveryDayArms on August 16, 2017, 08:58:11 AM

Hi,

New to Cointracking and absolutely love it so far. Assuming all goes will with my investments I'll be purchasing a license soon.

Had a quick question regarding the 'Trade Value' menu when editing a transaction. How is the purchase value and sale value calculated? Where are these from? I've noticed pretty strange numbers, and pretty big differences between the two (for example, selling some NEO for USDT shows a purchase value of $630 and a sale value of $690). This causes the realized gain to be a loss of $40-50 for example, whereas in reality (looking at my exchange) it was a profit of ~$20 as the NEO was sold for $692.

I've looked at many of my other coins on the Trade Prices page, and it shows losses for a bunch, whereas I know they were gains. Even selling 1 ETH for USD shows the incorrect prices. Is there any easier way to fix this rather than keeping track of the USD purchase/sell price for each transaction, and entering it in manually after the fact?

Thanks!

Hey,

You can set these values on the Enter Coins page when entering or editing your entries.
If you do not set them, CoinTracking will calculate the value automatically based on historical coin prices from coinmarketcap, worldcoinindex, cryptococoincharts and some more.

Each exchange has different prices, and the exchange price may not be the average price we use.
I would recommend to change the values if the spread is too high.

Best,
Dario

You really should use the price of the coin based on the exchange in which it was traded and not some averaged historical coin price. Or are you saying this only pertains to manual entries and not imported entries?

Dario3000

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Quote from: EveryDayArms on August 16, 2017, 08:58:11 AM

Hi,

New to Cointracking and absolutely love it so far. Assuming all goes will with my investments I'll be purchasing a license soon.

Had a quick question regarding the 'Trade Value' menu when editing a transaction. How is the purchase value and sale value calculated? Where are these from? I've noticed pretty strange numbers, and pretty big differences between the two (for example, selling some NEO for USDT shows a purchase value of $630 and a sale value of $690). This causes the realized gain to be a loss of $40-50 for example, whereas in reality (looking at my exchange) it was a profit of ~$20 as the NEO was sold for $692.

I've looked at many of my other coins on the Trade Prices page, and it shows losses for a bunch, whereas I know they were gains. Even selling 1 ETH for USD shows the incorrect prices. Is there any easier way to fix this rather than keeping track of the USD purchase/sell price for each transaction, and entering it in manually after the fact?

Thanks!

Hey,

You can set these values on the Enter Coins page when entering or editing your entries.
If you do not set them, CoinTracking will calculate the value automatically based on historical coin prices from coinmarketcap, worldcoinindex, cryptococoincharts and some more.

Each exchange has different prices, and the exchange price may not be the average price we use.
I would recommend to change the values if the spread is too high.

Best,
Dario

EveryDayArms

newbie

Activity: 7

Merit: 0

Hi,

New to Cointracking and absolutely love it so far. Assuming all goes will with my investments I'll be purchasing a license soon.

Had a quick question regarding the 'Trade Value' menu when editing a transaction. How is the purchase value and sale value calculated? Where are these from? I've noticed pretty strange numbers, and pretty big differences between the two (for example, selling some NEO for USDT shows a purchase value of $630 and a sale value of $690). This causes the realized gain to be a loss of $40-50 for example, whereas in reality (looking at my exchange) it was a profit of ~$20 as the NEO was sold for $692.

I've looked at many of my other coins on the Trade Prices page, and it shows losses for a bunch, whereas I know they were gains. Even selling 1 ETH for USD shows the incorrect prices. Is there any easier way to fix this rather than keeping track of the USD purchase/sell price for each transaction, and entering it in manually after the fact?

Thanks!

Ale88

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Quote from: Bermuda666 on August 15, 2017, 09:42:42 PM

@Ale88
We have added Bytom (BTM) in the last minutes. I hope it´s going to help you.

You're great guys! Thanks a lot! Wink

Bermuda666

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Quote from: afterfiat on August 14, 2017, 01:55:36 PM

I'm not as far along as pescadorloco69 apparently, but it's on my list when I get closer...
When specifying the date ranges are they in UTC? If so, is there a way to specify a timezone when specifying the ranges? For example, a trade "after midnight" of the tax year (in local time) in question but "before midnight" in crypto (UTC) should not be included in that tax year. At least that's what I would expect.

@afterfiat
The timezone for the selected range refers to your selected timezone in the account settings.
Thus, it is not necessary to change it when setting the date range.

Quote from: pescadorloco69 on August 14, 2017, 06:13:44 PM

Got it thank you.
How would I deal with a coin swap say 100,00 Silk got Swapped to 100,000 Seq?
Would I enter a sale of silk and a buy of seq at the same price/day of swap?
Although i did not actually sell at which point and would make a gain but I did not get a gain at that time?
Many thanks

@pescadorloco69
Please have a look into our FAQ, there you are able to find detailed information about this question.
How you execute it, depends on the circumstances come along with the swap.

Quote from: Ale88 on August 15, 2017, 06:23:18 PM

Hi guys,
will you add Bytom (BTM)? Thanks!

@Ale88
We have added Bytom (BTM) in the last minutes. I hope it´s going to help you.

Best regards,
Keven

Ale88

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Hi guys,

will you add Bytom (BTM)? Thanks!

pescadorloco69

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Quote from: Dario3000 on August 14, 2017, 10:42:16 AM

Hey pescadorloco69,

There's a [custom date range] link below the year drop down field.
You can set a custom start and end date there.
- Ensure you have checked the "Check to use the custom period" checkbox
- And use this date format "dd.mm.yyyy"

Using this setting, only sales within your custom time period will be calculated.

It will still use purchases before the start date to calculate your gains, but that's what you usually want to do.
If not, please disable this checkbox "Consider all previous trades in report".

Best

Dario

Got it thank you.

How would I deal with a coin swap say 100,00 Silk got Swapped to 100,000 Seq?

Would I enter a sale of silk and a buy of seq at the same price/day of swap?

Although i did not actually sell at which point and would make a gain but I did not get a gain at that time?

Many thanks

afterfiat

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Quote from: Dario3000 on August 14, 2017, 10:42:16 AM

There's a [custom date range] link below the year drop down field.
You can set a custom start and end date there.
- Ensure you have checked the "Check to use the custom period" checkbox
- And use this date format "dd.mm.yyyy"

Using this setting, only sales within your custom time period will be calculated.

I'm not as far along as pescadorloco69 apparently, but it's on my list when I get closer...

When specifying the date ranges are they in UTC? If so, is there a way to specify a timezone when specifying the ranges? For example, a trade "after midnight" of the tax year (in local time) in question but "before midnight" in crypto (UTC) should not be included in that tax year. At least that's what I would expect.

Dario3000

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Activity: 760

Merit: 516

CoinTracking - Crypto Portfolio & Tax Management

Hey pescadorloco69,

There's a [custom date range] link below the year drop down field.
You can set a custom start and end date there.
- Ensure you have checked the "Check to use the custom period" checkbox
- And use this date format "dd.mm.yyyy"

Using this setting, only sales within your custom time period will be calculated.

It will still use purchases before the start date to calculate your gains, but that's what you usually want to do.
If not, please disable this checkbox "Consider all previous trades in report".

Best

Dario

pescadorloco69

member

Activity: 105

Merit: 10

I have been trying to account for my trades on a spreadsheet and it has been a right headache.

I just discovered coin tracker and created an account and imported some sample data and I have had a play and it seems that cointracker is going to make my life a lot easier to establish my profits and loss for taxation.

I am based in the UK and the tax year is 6th April to 5th April following year.

When I tried the specific date range for the report it defaulted to the January to Dec year?

Are there any plans for this to be fixed or did I do something wrong?

Really keen to pay for pro version and import my full trade data from polo and trex but would need this fixed for it to be usable for my purpose.

Ale88

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Thanks Keven, I'm gonna check it out! Wink

Bermuda666

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Quote from: Ale88 on August 12, 2017, 01:05:14 PM

Thanks a lot Dario, I appreciate that! Wink

Another thing: do you think in the future will be possibile to create multiple portfolios on the same profile? Because, for example, I convinced my sister to invest a few euros in cryptocurrencies instead buying another expensive bag, but of course she has no clue how to set up her profile on CoinTracking etc, and I don't want to mix her currencies with mine because would bring confusion of course

Hi @Ale88,

It is already possible to manage multiple portfolios by linking accounts together.
You can link them together with a Key and switch between them with just one click from your Dashboard.
All of them will be upgraded to your current membership status.

More information can be found in the Settings under 'Join multiple accounts'.

I guess this is exactly what you are searching for.

I hope it helps.

Best regards,
Keven

Bermuda666

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Quote from: Bi0ha2ard187 on August 12, 2017, 11:16:05 AM

Can you please explain this a little more? Either its not working correctly or I am doing it all wrong. When i go back to edit mining entries and I change the asset balance to 0 it goes back and pulls the historical value.

I'm a little new to the platform and have all my entries uploading via API. What or where is the "filter menu" for this update?

Thank you!

Hey @Bi0ha2ard187,

please go to the "Un/Realized Gains" page and have a look at the settings in the second row.

The last dropdown setting is the "Filter". If you open it, you are able to in/exclude data for the calculation, by checking and unchecking entries.
Also you are able to set transaction types to "half checked", if you do so, the cost basis for this type is set to zero.
You just need to do this for the type "Mining". This should solve your problem. Please give it a try.

Best regards,
Keven

Ale88

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Quote from: Dario3000 on August 11, 2017, 03:53:59 AM

Quote from: Ale88 on August 10, 2017, 10:10:57 PM

About the fee field, is not possibile to put a % instead of a fiat value? Because I tried but looks like it doesn't accepts the % symbol, only number, so that means I should calculate myself every single fee, no?

Hey, no currently only values are accepted (but it does not have to be fiat).
I will put that on my to do list.

Best
Dario

Thanks a lot Dario, I appreciate that! Wink

Another thing: do you think in the future will be possibile to create multiple portfolios on the same profile? Because, for example, I convinced my sister to invest a few euros in cryptocurrencies instead buying another expensive bag, but of course she has no clue how to set up her profile on CoinTracking etc, and I don't want to mix her currencies with mine because would bring confusion of course

Bi0ha2ard187

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Quote from: Dario3000 on August 10, 2017, 06:21:52 PM

Quote from: Dario3000 on August 10, 2017, 01:58:55 PM

But it's a good point and I'm already working on a solution to calculate mined assets with a 0 cost basis.
It will be released very soon (maybe even today).

Released

You can now use the "Filter menu" to set a cost basis of 0 to all minings (and other transaction types).

Can you please explain this a little more? Either its not working correctly or I am doing it all wrong. When i go back to edit mining entries and I change the asset balance to 0 it goes back and pulls the historical value.

I'm a little new to the platform and have all my entries uploading via API. What or where is the "filter menu" for this update?

Thank you!

Dario3000

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Activity: 760

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CoinTracking - Crypto Portfolio & Tax Management

Quote from: Ale88 on August 10, 2017, 10:10:57 PM

About the fee field, is not possibile to put a % instead of a fiat value? Because I tried but looks like it doesn't accepts the % symbol, only number, so that means I should calculate myself every single fee, no?

Hey, no currently only values are accepted (but it does not have to be fiat).
I will put that on my to do list.

Best
Dario

Sosnovkino

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Pretty impressive service, may be useful for business purposes.
Can you contact me? By private message

Ale88

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About the fee field, is not possibile to put a % instead of a fiat value? Because I tried but looks like it doesn't accepts the % symbol, only number, so that means I should calculate myself every single fee, no?

Dario3000

hero member

Activity: 760

Merit: 516

CoinTracking - Crypto Portfolio & Tax Management

Quote from: Dario3000 on August 10, 2017, 01:58:55 PM

But it's a good point and I'm already working on a solution to calculate mined assets with a 0 cost basis.
It will be released very soon (maybe even today).

Released

You can now use the "Filter menu" to set a cost basis of 0 to all minings (and other transaction types).

Dario3000

hero member

Activity: 760

Merit: 516

CoinTracking - Crypto Portfolio & Tax Management

Quote from: CryptoHippo37 on August 10, 2017, 01:47:31 PM

I there any chance you'll be adding Binance to the exchange list? I know its a no-name exchange but I've been trading GAS from them and would greatly prefer to import the transactions versus manual entries. Anyone else interested in Binance?

Hey, do you know if they provide a CSV or Excel export on their website?
If yes, I can create an import for Binance within 48 hours.
I will just need a sample export file from their website.

@ALargeOrangeCat:
Even if you receive assets for free, they still have a value at the time of the transaction.
This is the value we are using.

But it's a good point and I'm already working on a solution to calculate mined assets with a 0 cost basis.
It will be released very soon (maybe even today).

Best,
Dario

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