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Bitcoin => Bitcoin Discussion => Topic started by: vulcanears on November 30, 2017, 08:28:09 PM



Title: Tax-accounting for crypto-traders. (converting exchange-logs for accountant)
Post by: vulcanears on November 30, 2017, 08:28:09 PM
hey guys.

Last week i had a meeting with my accountant to prepare my hundreds of bitfinex transactions for tax-accounting. I never thought that this would end in such a nightmare.

Bitfinex transaction reports look like this:

pair amountpricefee  
ETH/BTC 290.050.03ETH
ETH/BTC 150.050.03ETH
ETH/BTC 40.0510.0004BTC (for some reason this part of the transaction has fees in BTC and not ETH)



These three transactions were made over the course of 1 minute, so i want to group them into one.

So the goal here is to find the proper way to transform them into the following format.


BUY/SELLcurrency amountprice in usdfees in usd
SELLBTC xxxx USDxx USD
BUYETH xxxx USDxx USD

how many BTC are we selling? (30*0.05)+(15*0.05)+(4*0.051)+0.0004 =2.4544
how many ETH are we getting? 30+15+4-0.03-0.03 = 48.94
(is that correct so far?)

let's say the btc/usd price is 1000 USD.

is someone smart enough to figure out what buying price in USD and fees in USD are? this just gives me a headache.

thx in advance




Title: Re: Tax-accounting for crypto-traders. (converting exchange-logs for accountant)
Post by: vulcanears on December 01, 2017, 10:49:53 AM
*push*  (and maybe move to "legal")


Title: Re: Tax-accounting for crypto-traders. (converting exchange-logs for accountant)
Post by: vulcanears on December 03, 2017, 01:09:55 PM
come on guys!