Topic: Lost trading history - page 2. (Read 401 times)
You "may" not require your transaction history unless it is an audit case. For the time being you can manage with your bank statements, you'd be able to recall you purchase or sale history with the help of deposits and withdrawals. You can the report your gains income. But You may at times need to authenticate your income sources with a reliable, sufficient and appropriate evidence, in case a scrutiny falls on you. And if you are not able to verify your income sources, you may put yourself in some serious danger. So next time better be careful and try to maintain a record of your trading transactions.
I am laughing at the forum's issues. do you know what you say. like this lost trading history? Why is trading history crypto lose because of the collapse of the market price? I have the hard time getting to know what kind of thing like this cryptyocurrency so much to learn here so that the novice is better to master your cryptocurrency and the ones inside it.
Transaction history is really important for a traders since loss coin that you did not received from purchasing and its not trace will be a big problem for you since you can not complain for you Tao have your coin or money back, try to send email to the developer and let them check it for you.
Speaking from experience in two rather different tax jurisdictions, I can concur that good faith is all that is required. The only evidence of income I ever needed to provide was my bank statements used to deposit/withdraw trading income from. As long as that tallied, it's fine. I personally also don't keep a strict accounting for a lot of exchanges, simply because my fiat transfers actually only take place with 2 exchanges, typically localbitcoins.
Every other transfer to and from other exchanges are all crypto, and when liquidated are moved to Bitcoin, then to Localbitcoins.
I know it can be helpful if you BUY Bitcoin to provide records of losses since this can be written off for tax (same as gambling losses). But since all my incoming Bitcoin is earned directly, I don't face this issue. What I'm saying is, as long as I don't liquidate BTC, I don't report it as income. Only realized (sold for fiat and withdrawn) is reported.
Every other transfer to and from other exchanges are all crypto, and when liquidated are moved to Bitcoin, then to Localbitcoins.
I know it can be helpful if you BUY Bitcoin to provide records of losses since this can be written off for tax (same as gambling losses). But since all my incoming Bitcoin is earned directly, I don't face this issue. What I'm saying is, as long as I don't liquidate BTC, I don't report it as income. Only realized (sold for fiat and withdrawn) is reported.
As BitHodler mentioned, you wouldn't normally need to "prove" anything, unless you're being audited. And if you're being audited, the important thing is that your withdrawals (BTC that eventually makes its way to fiat exchanges) reconcile with what you report.
In this case, all you can really do is make a good faith effort to report correctly, based on your recollection and withdrawals. Anyway, your trading history is literally wiped out, so it's not like Livecoin could prove you wrong, right?
I agree with you that we do not need with our history in several exchanges, it may be enough with the recapitulation results from the profit calculation when we exchange it to FIAT and as you say honest with our profits by paying income tax is the best thing In this case, all you can really do is make a good faith effort to report correctly, based on your recollection and withdrawals. Anyway, your trading history is literally wiped out, so it's not like Livecoin could prove you wrong, right?
As BitHodler mentioned, you wouldn't normally need to "prove" anything, unless you're being audited. And if you're being audited, the important thing is that your withdrawals (BTC that eventually makes its way to fiat exchanges) reconcile with what you report.
In this case, all you can really do is make a good faith effort to report correctly, based on your recollection and withdrawals. Anyway, your trading history is literally wiped out, so it's not like Livecoin could prove you wrong, right?
In this case, all you can really do is make a good faith effort to report correctly, based on your recollection and withdrawals. Anyway, your trading history is literally wiped out, so it's not like Livecoin could prove you wrong, right?
I'm not sure what country you're from, but I personally never have to actually submit any proof of gains and trades. I just fill in what profits I have made and that's really it.
If you can declare your profits and trades in a similar way then do that, or if you're afraid of potential consequences you can always contact your tax agent before doing anything, which I think is the best option.
People here can only throw around with advice while it's your tax agent who knows what you should be doing. I have done plenty of trading on altcoin exchanges as well, but never bothered to pay tax.
If you can declare your profits and trades in a similar way then do that, or if you're afraid of potential consequences you can always contact your tax agent before doing anything, which I think is the best option.
People here can only throw around with advice while it's your tax agent who knows what you should be doing. I have done plenty of trading on altcoin exchanges as well, but never bothered to pay tax.
I lost my trading history on Livecoin, which I had to use because I wanted to get some coins of an altcoin that I was interested in and it was only trading there at relevant volumes.
Anyway, the big problem is obviously taxes. These fuckers had, in tiny letters: "We only store the last 30 days of trading history". I didn't see that, and when I saw it then guess what, my trades were lost.
So basically, now I have lost the trading I did in exchange of BTC for another altcoin (particularly XSN aka Stakenet). The question is: How do I report these gains when the time comes to do so, if I lost the trades within Livecoin because apparently they don't have money to store the damn trading history for more than 30 days? This is ridiculous.
Oh and I've also got some trading history lost on dead exchanges of back in the day, like Mintpal. It has happened to many. I wonder what you did when you tried to cash out gains, and you didn't save the .csv file or whatever on time, meaning that you have no way to prove origin of your gains.
Anyway, the big problem is obviously taxes. These fuckers had, in tiny letters: "We only store the last 30 days of trading history". I didn't see that, and when I saw it then guess what, my trades were lost.
So basically, now I have lost the trading I did in exchange of BTC for another altcoin (particularly XSN aka Stakenet). The question is: How do I report these gains when the time comes to do so, if I lost the trades within Livecoin because apparently they don't have money to store the damn trading history for more than 30 days? This is ridiculous.
Oh and I've also got some trading history lost on dead exchanges of back in the day, like Mintpal. It has happened to many. I wonder what you did when you tried to cash out gains, and you didn't save the .csv file or whatever on time, meaning that you have no way to prove origin of your gains.
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