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

Ale88

legendary

Activity: 2576

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Catalog Websites

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

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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

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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

CryptoHippo37

newbie

Activity: 2

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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?

ALargeOrangeCat

newbie

Activity: 16

Merit: 0

Hi,

I'm looking at Realized & Unrealized Gains report and I'm confused about how mining factors into my unrealized gain/loss.

How is cost determined when applied to a mined coin? Easy example... I mined 2 HUSH. It's showing a purchase cost & saying it's a loss if I sell this. How can this be a loss when I didn't purchase the coin? It should show up as a positive gain at any point that I sell it. Where did this purchase cost come from?

My mining is categorized as [In] Mining with no mining fee. I've selected "Add Deposits & Withdrawals to remaining amount" in gains report.

What am I missing here?

http://imgur.com/eb6b8jc

Also, is there a good way to keep track of mining equipment & electrical costs to determine mining ROI?

Thanks,

Bermuda666

member

Activity: 85

Merit: 10

Quote from: sgjenks01 on August 08, 2017, 01:08:08 AM

Okay Keven, Thanks!

@sgjenks01

You are welcome.

Have a great week.

Best regards,
Keven

Bermuda666

member

Activity: 85

Merit: 10

Quote from: smartinuf on August 08, 2017, 09:51:26 AM

Wow, thanks! I don't where I got "BTH" from but that was it, duh! Not enough sleep and cryptos aren't compatible yet but look out when they are, ha. Thanks All !

Hey @smartinuf,

I know these kinds of problems sometimes.

You are welcome.

Wish you successful trading and investing.

Best regards,
Keven

Dario3000

hero member

Activity: 760

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CoinTracking - Crypto Portfolio & Tax Management

1 Litoshi?
Sounds strange.
I think I will stay with 1 LTC Satoshi

afterfiat

newbie

Activity: 11

Merit: 0

Quote from: Dario3000 on August 08, 2017, 04:43:38 PM

what's 1 satoshi in LTC by the way? 1 charles? Wink

https://www.reddit.com/r/litecoin/comments/43epab/smallest_value/

Dario3000

hero member

Activity: 760

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CoinTracking - Crypto Portfolio & Tax Management

You're absolutely right.
There should be no rounding as all LTC chain values have 8 decimals.
We're using chainz.cryptoid.info/ltc/ for LTC imports.
I would guess, that the 1 satoshi difference is coming from there (what's 1 satoshi in LTC by the way? 1 charles? Wink

)

Dario

afterfiat

newbie

Activity: 11

Merit: 0

Quote from: Dario3000 on August 08, 2017, 03:44:34 PM

@afterfiat:
So you're saying, that after importing 2680 transactions, your balance is off by $0.00000414?
Well... could be worse, right? Cheesy

I guess it's due to rounding errors of the 8th decimal place.

@Dario3000
It definitely wasn't a catastrophe.

But I found it odd that any rounding was required at all. It was a LTC chain import so I expect it to just be a data transfer (LTC -> LTC) with no math/rounding involved. US$ (or any other currency) shouldn't be involved in the import, right? As such, I figured it's a bug in the importer rather than a rounding issue. Perhaps I'm misunderstanding how the importer works though.

Dario3000

hero member

Activity: 760

Merit: 516

CoinTracking - Crypto Portfolio & Tax Management

@afterfiat:
So you're saying, that after importing 2680 transactions, your balance is off by $0.00000414?
Well... could be worse, right? Cheesy

I guess it's due to rounding errors of the 8th decimal place.

@V.pop85:
Actually there is an easy mode (Reporting -> Easy Enter Statistics).
OK, it will not show any historical balances nor advanced gain calculations, but if you only want to track your current assets with a basic gains review, it can be a good choice.

Speaking of advanced gain calculations...

Just released some cool new features for the Realized and Unrealized Gains page:
- Instant Gain Calculator: Know your profit/loss before selling
- Calculation Methods: FIFO, LIFO, HIFO, LOFO
- Filters: Select your Exchanges, Groups and Trade Types
- Short / Long indicator for all sales

Best,
Dario

smartinuf

newbie

Activity: 10

Merit: 0

Quote from: Bermuda666 on August 08, 2017, 12:12:27 AM

Quote from: smartinuf on August 07, 2017, 09:08:19 PM

Thanks for trying but still not working for me, the BTH does show up in both Balance by exchange and also in Summary but shows a zero balance, weird.

Hey @smartinuf,

thank you for getting in touch with us and for your interest.

As I see, you´ve tried to enter "BTH" (Guess you mean BCH) as an ICO Coin/Asset with a custom value.
But you did not enter a value in the summary. It´s not going to work this way.

@afterfiat Thank you very much for going into this and for trying to explain it. Awesome.

Best regards,
Keven

Wow, thanks! I don't where I got "BTH" from but that was it, duh! Not enough sleep and cryptos aren't compatible yet but look out when they are, ha. Thanks All !

afterfiat

newbie

Activity: 11

Merit: 0

Bug Report: After importing 2680 LTC mining transactions, 9 of them were off by 0.00000001 LTC.

Sidenote: It was not fun finding which 9.

sgjenks01

member

Activity: 91

Merit: 10

Okay Keven, Thanks!

Bermuda666

member

Activity: 85

Merit: 10

Quote from: sgjenks01 on August 07, 2017, 09:36:22 PM

Hi,
I've got what was AntShares, Now called NEO (much cooler name, don't you agree?)

Anyway my question: Do I have to manually go in and change any transactions from ANS to NEO manually, or is that going to be automagic.?

Thanks,

Steve

Hi again @sgjenks01,

I would probably agree, but we have to keep some neutrality. Wink

We´ve already added a FAQ topic for this. I guess it will answer your question. Automagic? Haha, yes. But only for future transactions.

How do I enter renamed or rebranded Coins (e.g. ANS and NEO)?

If a Coin is renamed, you will need to rename all your old Coins as well in order to get the correct cost basis and the profit.

This can be done using the 'Bulk Edit/Delete' button on the 'Enter Coins' page or by changing them in the trade table on the same page.
Using the bulk function, select 'Overwrite Coins' from the dropdown and replace your old Coin ticker with the new one.
After that, all values are displayed again correctly.

I hope it´s going to help you.

Best regards,
Keven

Bermuda666

member

Activity: 85

Merit: 10

Quote from: smartinuf on August 07, 2017, 09:08:19 PM

Thanks for trying but still not working for me, the BTH does show up in both Balance by exchange and also in Summary but shows a zero balance, weird.

Hey @smartinuf,

thank you for getting in touch with us and for your interest.

As I see, you´ve tried to enter "BTH" (Guess you mean BCH) as an ICO Coin/Asset with a custom value.
But you did not enter a value in the summary. It´s not going to work this way.

There are 2 ways you can enter your BCH now:

1) The easy way:
Add your BCH as "gift" with a cost basis of 274.59 USD per coin (the initial price on August 2nd).
(Edit the Asset value in the pop-up window on the "Enter Coins" page.)

2) The correct way:
To make it 100% tax compliant, you would have to search for every single BTC transaction you made (before August 2nd) and create an additional BCH transaction at the same date/time and with the same amount (just with a 0 USD cost basis).
At the end (on August 2nd) you will have the same amount of BCH as your BTC amount in your CoinTracking account.

But if you have hundreds of BTC transactions this method can be quite time wasting.

However if you plan to keep your BCH for more than 1 year, you can ignore this method and go with the first one, as your BCH will be tax free anyway.

I hope it´s going to help you.

@afterfiat Thank you very much for going into this and for trying to explain it. Awesome.

Best regards,
Keven

Bermuda666

member

Activity: 85

Merit: 10

Quote from: V.pop85 on August 07, 2017, 05:30:29 PM

Thanks Dario and Cointracking for taking care of minor issues so fast !!!
It takes some time to get used to it and know it's insights, but it's very powerful...and indispensable tool for a trader
Maybe you should consider an "EASY MODE" for beginners /investors ...it will definitely get you more customers in the future

Hey @V.pop85,

you are welcome.

Yes, it´s true. Our system is quite complex at first. But it´s very flexible and powerful, once you become familiar with it.

Something like a more light version, is on our idea list. Until now it´s not quite certain how realistic a possible integration would be.
But thank you very much for sharing your thoughts on this.

We are glad our tools are useful for your and appreciate you´ll spread the word for us.

Thank you. We wish you successful trading and investing.

Best regards,
Keven

sgjenks01

member

Activity: 91

Merit: 10

Hi,
I've got what was AntShares, Now called NEO (much cooler name, don't you agree?)

Anyway my question: Do I have to manually go in and change any transactions from ANS to NEO manually, or is that going to be automagic.?

Thanks,

Steve

smartinuf

newbie

Activity: 10

Merit: 0

Quote from: afterfiat on August 07, 2017, 05:40:19 PM

Quote from: smartinuf on August 07, 2017, 05:11:33 PM

Hi, new to cointracking and am enjoying it so far. Im trying to add BCH "the easy way" on the "enter coins" page but the values in USD don't seem to show up. I think Im probably missing something here.

Will you be adding automatic pricing from date and time for BCH soon?

I haven't "dealt with" BCH in my data yet, but I thought I'd take a look in case it helps...

1. Enter Coins / Overview & Manual Import
2. New
3. Transaction Type = [In] General Deposit (Transfer)
4. Deposit: Amount=1, Currency=BCH
5. Exchange=test123
6. Add transaction
7. Dashboard
8. "click here to recalculate your data"
9. Balance by Exchange

"test123 Balance" shows 1 BCH = 337.11 USD

Seems to be working.

Thanks for trying but still not working for me, the BTH does show up in both Balance by exchange and also in Summary but shows a zero balance, weird.

Topic: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies - page 95. (Read 122619 times)