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Author Topic: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies  (Read 89322 times)
ICOMain.io
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May 25, 2018, 11:41:16 AM
 #1381

it's very amasing. I will adopt this. It's very great!

Level 01 Derivatives Exchange
A peer 2 peer derivatives exchange for everyone to trade (https://level01.io)
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OsirisMB
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May 26, 2018, 05:07:40 PM
 #1382

What happens when two coins will have the same ticker?

I bought some Eximchain (EXC) on IDEX and it turned up as Extremecoin (EXC) when cointracking looked at my eth wallet. Will they both be on there at some point and i can just select Eximchain on the dropdown? Ive no idea how long it usually takes to list new coins on the tracker
MachinosTT
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May 28, 2018, 09:41:30 AM
 #1383

Hi all,
I am a new user of Cointracking.
I have an issue regarding coins I bought through ICO.
Indeed, for most of them, the cost basis equal 0€ in the tax report ?!

I have imported all my trade using "Bulk import".
For each ICO coins I bought, I have added a trade entry using the crypto used to buy this new coins (mostly BTC or ETH).
Then, in the "trade list" view, I see the correct amount of BTC or ETH sold.
But, in the "trade prices" view, the 'value in Eur' =0 for each ICO trade !
It look like, that because the coin was not listed on Exchange, the cost basis =0.

Also, I tried to "Set custom prices", remove all my trades & reimport them but it give me the same result.
So I don't know how to fix this issue !  Cry

Any idea ?

(I don't have this issue with BitcoinTax.)
CoinTracking Dominik
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May 28, 2018, 01:17:06 PM
 #1384

So dominik, I decided to decided to give it an attempt using the DELETE option.  Some tokens updated after this, but my ETH balance is incorrect still.  I will try a few more times to see if cycling through the same process somehow triggers a refresh that an earlier iteration did not.
Please write a ticket via our HelpDesk (https://cointracking.freshdesk.com) so that we can check your account and ETH Import more closely.


I find it odd that if I base my portfolio on BTC pricing, BTC should be at 0% change and the USD at +.02% change. Instead, you have BTC changing regardless of the base currency. Why?

% on the whole website are always based on FIAT. While it is not possible yet to see in BTC, it is already on our list and we will try to integrate it in the future.


What happens when two coins will have the same ticker?

I bought some Eximchain (EXC) on IDEX and it turned up as Extremecoin (EXC) when cointracking looked at my eth wallet. Will they both be on there at some point and i can just select Eximchain on the dropdown? Ive no idea how long it usually takes to list new coins on the tracker
CoinTracking automatically records prices for new coins as soon as they are listed our price sources.
If the ticker already exists, a new one will be issued or the ticker with the higher trading volume will receive the primary ticker.
If you want to track the coin already, you can also give it its own ticker and prize.
https://cointracking.freshdesk.com/solution/articles/29000007203-entering-ico-coins-and-non-listed-assets

Hi all,
I am a new user of Cointracking.
I have an issue regarding coins I bought through ICO.
Indeed, for most of them, the cost basis equal 0€ in the tax report ?!

I have imported all my trade using "Bulk import".
For each ICO coins I bought, I have added a trade entry using the crypto used to buy this new coins (mostly BTC or ETH).
Then, in the "trade list" view, I see the correct amount of BTC or ETH sold.
But, in the "trade prices" view, the 'value in Eur' =0 for each ICO trade !
It look like, that because the coin was not listed on Exchange, the cost basis =0.

Also, I tried to "Set custom prices", remove all my trades & reimport them but it give me the same result.
So I don't know how to fix this issue !  Cry

Any idea ?

(I don't have this issue with BitcoinTax.)
Please have a look at the following FAQ articles:
https://cointracking.freshdesk.com/solution/articles/29000007203-entering-ico-coins-and-non-listed-assets
https://cointracking.freshdesk.com/solution/articles/29000018057-coin-price-value-does-not-seem-correct

If it doesn't help, please write a ticket through our HelpDesk (https://cointracking.freshdesk.com) and we will look at your portfolio.
Naidu
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May 29, 2018, 01:14:31 PM
 #1385

It seems like every other day I get a notification to recalculate my trades. Is there an option to set this to auto recalculate? It's kinda annoying that you don't know when recalculate is needed unless you visit the website. Even iOS App doesn't tell you a recalculate is needed.
CoinTracking Dominik
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May 30, 2018, 10:29:21 AM
 #1386

It seems like every other day I get a notification to recalculate my trades. Is there an option to set this to auto recalculate? It's kinda annoying that you don't know when recalculate is needed unless you visit the website. Even iOS App doesn't tell you a recalculate is needed.
We are sorry, but this is currently not possible.
jetbird
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June 04, 2018, 04:52:15 AM
 #1387

I'm not clear how to enter coins that I have mined in a pool. In the case of XMR, let's say I mined 4 XMR, which is the amount I get when transferred to my wallet from the pool. In the process of mining those 4 XMR, I paid the pool a fee of 0.6% or 0.024 XMR.

How should I enter the mined coins into cointracking?

Is the fee considered an expense for business purposes?

Thanks,

Jeff
asbasit
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June 06, 2018, 07:16:42 AM
 #1388

Hi, Cointracking.

Great Work. You have really made my life so easy...It seems. I have to get back to you for any anomaly I find, but anyways great work. once again.

My only request for the moment is

Is there any plan to include Remitano.com ( the escrow service) in your tracking network.

I have nearly 6 months of trading data to track. Please help me out. I am ready to even pay for your service if I get this solution. If required i may share my excel template  I use for tracking.

Please it will be of great help...more.

regards,

Basit
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June 06, 2018, 02:05:37 PM
 #1389

I have a feature request (or I need instructions on how to use it if already part of the program): I need to be able to manually enter some historical prices for a particular coin I have (and override the default historical prices). The reason is that a coin I'm invested in recently upgraded to its 2.0 version, and that process required delisting on exchanges of the old version followed by relisting of the new version. The one exchange we had that was being tracked on CoinMarketcap (or whatever you are using as the price tracker) dropped us in that process, and the exchanges the coin is now listed on aren't currently being tracked, and the price that is showing on my dashboard is completely wrong. So I've been keeping track of the daily price, and I'd like to be able to enter that price so I can see what my portfolio is really worth. Is there a way to do that? If not, can it please be added? It will make my tax reporting so much easier if I could handle this within the program itself.
wronggg
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June 09, 2018, 05:41:06 AM
 #1390

Bulk import didnt work or broken.
If i try to import csv or xls file its dont show anything in table
arsy95
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June 11, 2018, 02:42:05 PM
 #1391

I bought unlimited and it simply doesn't import my bitfinex API, my username is arsy, can anyone help me? my lawyer is waiting. it did work on bitcoin.tax (which counted 19k trades) but bitcoin.tax sucks for other reasons.

EDIT: I made a small bitfinex trade to test the api out and it did appear on cointracking.info, but i need the whole history imported
CoinTracking Dominik
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June 11, 2018, 06:33:52 PM
 #1392

Hi, Cointracking.

Great Work. You have really made my life so easy...It seems. I have to get back to you for any anomaly I find, but anyways great work. once again.

My only request for the moment is

Is there any plan to include Remitano.com ( the escrow service) in your tracking network.

I have nearly 6 months of trading data to track. Please help me out. I am ready to even pay for your service if I get this solution. If required i may share my excel template  I use for tracking.

Please it will be of great help...more.

regards,

Basit
You've already contacted us. Unfortunately, this file could not be imported due to the format. Once Remitano provides a format that can be processed (API or CSV), we try to implement it.


Bulk import didnt work or broken.
If i try to import csv or xls file its dont show anything in table
This problem no longer exists.


I bought unlimited and it simply doesn't import my bitfinex API, my username is arsy, can anyone help me? my lawyer is waiting. it did work on bitcoin.tax (which counted 19k trades) but bitcoin.tax sucks for other reasons.

EDIT: I made a small bitfinex trade to test the api out and it did appear on cointracking.info, but i need the whole history imported
How old are these trades The Bitfinex API has limitations of the historical data.
http://blog.bitfinex.com/api/api-improvements/
Ma907xB
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June 13, 2018, 05:29:26 AM
 #1393

I'm having trouble figuring out how to calculate my mining income with cointracking, if someone could help me out.

I can make a tax report which calculates gains and losses.  But my mining transactions that I've imported into cointracking are not calculated with that, since I haven't sold anything I've mined yet.

Is there a way to calculate what my income has been? The IRS says it should be calculated at the point of receipt, so it would be nice if cointracking added up the value of all my mining transactions at the time they were mined.  Instead of calculating the current value of all my mining proceeds.

Thanks for the help!!

Are you recording/uploading your transactions from your wallet as "mining" ?
Here is what I have figured out on how to track tax liability from Mining using Cointracking.
I use this for mining Small-Cap, Alt-coins to a Wallet, no Cointracking API:
1 - I've exported the transaction from the wallet to Excel. (Most wallets have this feature).
2 - I use the Excel file in CT bulk upload:
   Type - Mining (I've added this after the export)
   Buy - quantity mined,
   Currency - the Symbol Mined, like BWK (I've added this after the export)
   Exchange - I call each Wallet an exchange - like "BWK Wallet" (I've added this after the export)
   Date - make sure that you keep the time stamp from the Wallet.
3 - Back to Cointracking, Enter Coins - Bulk Imports - Excel - [Filename]
4 - Review import and update Cointracking
5 - In Cointracking, Report - Trade Prices - Excel; now the mining has a value attached to each transaction.
6 - In Excel, sort by type (mining) and date (Tax Year). Copy and paste to clean file and there you go, tax file for income earned on mining.

Hope this helps.

Have you continued to use this strategy?  How has tracking mining income gone over the past few months?
arsy95
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June 16, 2018, 05:27:14 PM
 #1394

I bought unlimited and it simply doesn't import my bitfinex API, my username is arsy, can anyone help me? my lawyer is waiting. it did work on bitcoin.tax (which counted 19k trades) but bitcoin.tax sucks for other reasons.

EDIT: I made a small bitfinex trade to test the api out and it did appear on cointracking.info, but i need the whole history imported
How old are these trades The Bitfinex API has limitations of the historical data.
http://blog.bitfinex.com/api/api-improvements/

My first deposit & trade was 29 june 2017.



WickedPigeon
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June 16, 2018, 06:33:25 PM
 #1395

I'm having trouble figuring out how to calculate my mining income with cointracking, if someone could help me out.

I can make a tax report which calculates gains and losses.  But my mining transactions that I've imported into cointracking are not calculated with that, since I haven't sold anything I've mined yet.

Is there a way to calculate what my income has been? The IRS says it should be calculated at the point of receipt, so it would be nice if cointracking added up the value of all my mining transactions at the time they were mined.  Instead of calculating the current value of all my mining proceeds.

Thanks for the help!!

Are you recording/uploading your transactions from your wallet as "mining" ?
Here is what I have figured out on how to track tax liability from Mining using Cointracking.
I use this for mining Small-Cap, Alt-coins to a Wallet, no Cointracking API:
1 - I've exported the transaction from the wallet to Excel. (Most wallets have this feature).
2 - I use the Excel file in CT bulk upload:
   Type - Mining (I've added this after the export)
   Buy - quantity mined,
   Currency - the Symbol Mined, like BWK (I've added this after the export)
   Exchange - I call each Wallet an exchange - like "BWK Wallet" (I've added this after the export)
   Date - make sure that you keep the time stamp from the Wallet.
3 - Back to Cointracking, Enter Coins - Bulk Imports - Excel - [Filename]
4 - Review import and update Cointracking
5 - In Cointracking, Report - Trade Prices - Excel; now the mining has a value attached to each transaction.
6 - In Excel, sort by type (mining) and date (Tax Year). Copy and paste to clean file and there you go, tax file for income earned on mining.

Hope this helps.

Have you continued to use this strategy?  How has tracking mining income gone over the past few months?

The only clarification I would make is that I use the CT Excel Upload file, then I copy my data into it. I have two active mining wallets right now - LUX and RVN. I am uploading hundreds of mining transactions in a month. No issues - unless I mistakenly populate the wrong field or mis-spell something. I also have a dozen inactive mining wallets - but those are just holding old positions - so the pricing update is working perfect there. And at Year End, my tax report was fairly easy too.

Also I use the Trade Group field to track PoW and PoS. I also track Funding and Leaching in that field (for all other trades, I leave it blank). Funding is new investment money and leaching is coins sold to US$ and moved back out to my regular savings account. This way when I run the report Balance by Exchange, I change it to by Trade Group and I get a mining update. Very slick, up to the minute return on my mining. The only thing missing is my outlay for the mining equipment.

My income has been good - I mine with 27x1070Ti. It's the coin prices that are down Undecided . Since I began last fall, I've made enough to cover all my costs (~12k USD). The mining has gone well, I've been selling 50% of what I've mined. And the other 50% has lost about half its value since mined. Still, all in all, it's been a good investment. And time will tell.

Such is the roller-coaster ride of a Spec-miner.

If I leave here tomorrow would you still remember me?
For I must be traveling on now cause there's too many places I've got to see...
Sylkien
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June 19, 2018, 06:30:31 PM
 #1396

I am having an absolute nightmare for calculate Tax Reports.

Using Cointracking, with the .CSV files you don't get access to margin trades data, so you have to get them with the API, but after import all the data I see that margin trades are not included. I don't know why is happening this. Same thing happeens with deposit and withdrawals.

I don't know if the .CSV files that you can download at Bifinex, margin trades are included, apart of not differentiate between normal trades and normal trades.

Any solution for this?

Thanks in advance.

svk31
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June 20, 2018, 12:29:10 PM
 #1397

Bulk import didnt work or broken.
If i try to import csv or xls file its dont show anything in table
This problem no longer exists.

Might not be the same issue but there's a quite annoying bug where if you try to import a csv file with just one small error in it, the import screen tells you everything is fine and that the data was imported, but no data actually gets saved. I encountered this when constructing my own csv files, if a trade had no buy amount for example no errors or warnings were raised, and the whole import failed silently.

Makes it very hard to debug what's actually wrong with the csv file.
svk31
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June 20, 2018, 12:35:36 PM
 #1398

Currently it seems everything counts as a trade in the statistics for number of trades. Can you please make it so that only actual trades are counted, not deposits, withdrawals etc?
kainplan
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June 22, 2018, 08:17:09 PM
 #1399

Hi,

can someone tell me how to do a wallet import for ETC, please? Seems like I am to stupid to find it.

There is no ETC in the altcoin wallet dropdown, ETH is not working obviously but cointracking "knows" ETC in the Dashboard.

Thanks in advance
Sylkien
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June 26, 2018, 06:17:17 AM
 #1400

Can anyone confirm me that fees are deducted when you generate the Tax Report?

I really guess is not happening this.

Thanks in advance.
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