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

[jgalt]

Hello, I'm trying to use your software to calculate the cost-basis for my capital gains back to 2013. I've started with Coinbase because I figure if I can input all deposits, withdrawals, buys and sells, and it ultimately matches up to my current balance in coinbase, then I prove to myself I at least have a basic understanding of how this works and then I'll slowly start adding the other exchanges one by one. (if you have a better idea of how to go about tackling this gigantic problem, i'm all ears)

So i started by following the instructions and downloading the "buys, sells and merchant payouts" report for each individual account - all history. I've uploaded each of them into your system. It seems to work fine.

Then I tried to determine how to manually enter all sends/receives (aka withdrawals/deposits). After playing with a few of the coinbase reports, it seems as if "Transaction history for taxes" was the one most relevant. It shows a long list of all sends/receives across all accounts and currencies. So, starting in chronological order, I begin manually entering these as "General deposit" for the receives and "General withdrawals" for sends.

About 1/4 of the way through manually entering these, I noticed that in early 2014 I made a "Send" of nearly 30 BTC. It seemed like a rather high number so I manually went back to try and determine if I would have even had this much in the account at that time - and I wouldn't have. Therefore it leads me to believe that i'm missing something somewhere. Can you please help?

On an additional note, in the event that i get too frustrated trying to do this myself, is there a service somewhere where I can safely provide the csv files and have somebody else do this work for me?

[CoinTracking Dominik]

Hello, I'm trying to use your software to calculate the cost-basis for my capital gains back to 2013. I've started with Coinbase because I figure if I can input all deposits, withdrawals, buys and sells, and it ultimately matches up to my current balance in coinbase, then I prove to myself I at least have a basic understanding of how this works and then I'll slowly start adding the other exchanges one by one. (if you have a better idea of how to go about tackling this gigantic problem, i'm all ears)

So i started by following the instructions and downloading the "buys, sells and merchant payouts" report for each individual account - all history. I've uploaded each of them into your system. It seems to work fine.

Then I tried to determine how to manually enter all sends/receives (aka withdrawals/deposits). After playing with a few of the coinbase reports, it seems as if "Transaction history for taxes" was the one most relevant. It shows a long list of all sends/receives across all accounts and currencies. So, starting in chronological order, I begin manually entering these as "General deposit" for the receives and "General withdrawals" for sends.

About 1/4 of the way through manually entering these, I noticed that in early 2014 I made a "Send" of nearly 30 BTC. It seemed like a rather high number so I manually went back to try and determine if I would have even had this much in the account at that time - and I wouldn't have. Therefore it leads me to believe that i'm missing something somewhere. Can you please help?

On an additional note, in the event that i get too frustrated trying to do this myself, is there a service somewhere where I can safely provide the csv files and have somebody else do this work for me?

Please send us a ticket via our HelpDesk (https://cointracking.freshdesk.com) so that we can take a closer look at the problem.

Hi,

I held BCH in my Trezor during the BCHABC/BCHSV fork on November 15th. How should I encode this fork in CoinTracking.info? I see there are three BCH coins in CoinTracking: BCH, BCHABC and BCHSV.

Could you provide some guidance?

Thanks.

How Forks are handled is explained in the following FAQ article: https://cointracking.freshdesk.com/en/support/solutions/articles/29000018052-entering-coins-with-a-fork-e-g-btc-and-bch-

[jonasnoble]

Hi everybody,

I've been using Cointracking for almost a year, and have really enjoyed it so far.

Something I'm having trouble with, my BNB balance is slightly off between Binance and Cointracking. I've tried backing up, deleting, re-importing. I've done with and without Dust Conversion included. I've manually entered the Dust conversion. No matter what I do, I end up just a little bit off; always the same amount. It's not really a big deal (other than annoying my obsessive compulsive nature), but I want to make sure I didn't do anything wrong so I can prevent it in the future.

Everything I have read says go through your trades 1 at a time... I have almost 2000 trades logged this year. Can anyone think of a quicker way to do it? Or a possible reason my imported amounts from the Binance API is different from what lands in my Cointracking portfolio?



Thanks for any suggestions.

[jgalt]

I'm experimenting with a variety of crypto tax software solutions and I've spent several hours trying to get my coinbase imports to reconcile to the current balance that I have in coinbase. Your auto-import of deposits/withdrawals is a premium feature, but without understanding how well it works I'm hesitant to purchase. Is it possible for you to temporarily provide this feature so I can trial it? (feel free to disable the ability for me to create any reports, etc)

[CoinTracking Dominik]

Hi everybody,

I've been using Cointracking for almost a year, and have really enjoyed it so far.

Something I'm having trouble with, my BNB balance is slightly off between Binance and Cointracking. I've tried backing up, deleting, re-importing. I've done with and without Dust Conversion included. I've manually entered the Dust conversion. No matter what I do, I end up just a little bit off; always the same amount. It's not really a big deal (other than annoying my obsessive compulsive nature), but I want to make sure I didn't do anything wrong so I can prevent it in the future.

Everything I have read says go through your trades 1 at a time... I have almost 2000 trades logged this year. Can anyone think of a quicker way to do it? Or a possible reason my imported amounts from the Binance API is different from what lands in my Cointracking portfolio?



Thanks for any suggestions.

Hi jonasnoble,
the following transactions are not transferred by the Binance API and must be entered manually:

• Trades of delisted Coins (also old coins from swaps). Must be imported via CSV or manually.
• Referral Commissions: https://www.binance.com/invite.html
• Airdrops: https://www.binance.com/userCenter/dividend.html

Please check if the problem results from this.

I'm experimenting with a variety of crypto tax software solutions and I've spent several hours trying to get my coinbase imports to reconcile to the current balance that I have in coinbase. Your auto-import of deposits/withdrawals is a premium feature, but without understanding how well it works I'm hesitant to purchase. Is it possible for you to temporarily provide this feature so I can trial it? (feel free to disable the ability for me to create any reports, etc)

Hi jgalt,
please contact us via our HelpDesk: https://cointracking.freshdesk.com

[jonasnoble]

Hi everybody,

I've been using Cointracking for almost a year, and have really enjoyed it so far.

Something I'm having trouble with, my BNB balance is slightly off between Binance and Cointracking. I've tried backing up, deleting, re-importing. I've done with and without Dust Conversion included. I've manually entered the Dust conversion. No matter what I do, I end up just a little bit off; always the same amount. It's not really a big deal (other than annoying my obsessive compulsive nature), but I want to make sure I didn't do anything wrong so I can prevent it in the future.

Everything I have read says go through your trades 1 at a time... I have almost 2000 trades logged this year. Can anyone think of a quicker way to do it? Or a possible reason my imported amounts from the Binance API is different from what lands in my Cointracking portfolio?



Thanks for any suggestions.

Hi jonasnoble,
the following transactions are not transferred by the Binance API and must be entered manually:

• Trades of delisted Coins (also old coins from swaps). Must be imported via CSV or manually.
• Referral Commissions: https://www.binance.com/invite.html
• Airdrops: https://www.binance.com/userCenter/dividend.html

Please check if the problem results from this.

Hey, thanks for the response. I've searched my entire binance history and can't seem to figure it out. It doesn't seem to be either of the things you mentioned above (though there was a BNB fee refund that wasn't imported, it wasn't enough to change the balance difference.)

Again, it's a small amount, not it probably doesn't matter. I just want to make sure it's not indicative of a bigger issue that I'm missing.

[Lemayilleur]

How to add new coin in coin tracking service for coin stats?

[Plenty]

Hi,

I have been using CT extensively for the past two years.  I have a powerful feature request for the <ADVANCED SEARCH> tool:

Please add switches to filter OUT variables...

e.g. I want to make an <ADVANCED SEARCH> for all purchases in "ETH" but NOT sales in "BTC".

So I enter "ETH" in the buy currencies field.  

But presently, if I then enter "BTC" in the sell currencies field -  CT only returns results of purchases in "ETH" AND sales in "BTC".

There needs to be a switch below "Smart' and RegEx" called "Exclude". Imagine that the user turns a switch ON and now enters "BTC" to exclude "BTC" from the sell currencies results.

Please add "Exclude" switches below all of the search fields.  By default they are all OFF.

You can do it! :-)

Please add this powerful feature.

Thanks for all you do!!

[Dario3000]

e.g. I want to make an <ADVANCED SEARCH> for all purchases in "ETH" but NOT sales in "BTC".

Type eth into the buy cur. box and ^(?!btc) in the sell cur. box + activate the RegEx checkbox in the sell cur. box.
This will show all ETH purchases where the sell is not BTC.

PS: Dominik is on vacation this week, but will be back on Monday to answer all the other questions
Best, Dario

[drsmoketto]

Hi there. Im using Cointracking to keep a track of my trades, its taken me a good week or so to iron out most problems but im slowly getting there.

Im hoping someone could help me. I am looking to export a list of all my trades (as they show in the 'Trade List (full view)' tab) but I want to be able to group my trades together (Similar to how you can group trades by day in the tax reporting). I currently have in excess of 2000 trades but they are predominantly made up of lots of smaller trades within a trade.

For example, I would place a limit order to buy 1 BTC and this would be filled... however it shows as 12 individual trades in the list totalling the 1BTC initial order.

Is there anyway to get the trades to group up an consolidate so there isnt so much overwhelming data on the list? It also makes me appear as though im a trader doing thousands of trades when infact its only a few hundred.

Any answers to this would be super appreciated.

Many Thanks

[kovanyy]

Hi Dominik

I have a question about Balance by Exchange
I can't understand why Im having a negative balance in value at transaction.

 Amount      USD Value at transaction   BTC Value at transaction   USD Current value   BTC Current value
10.90000000   ZRX   -41.75 USD           -0.00389406 BTC           3.39 USD                    0.00097631 BTC

0.00862000   USDT   0.56 USD            -0.00401733 BTC            0.01 USD                    0.00000248 BTC

What does it mean I how I can fix it?

Thank you

[CoinTracking Dominik]

Hi Dominik

I have a question about Balance by Exchange
I can't understand why Im having a negative balance in value at transaction.

 Amount      USD Value at transaction   BTC Value at transaction   USD Current value   BTC Current value
10.90000000   ZRX   -41.75 USD           -0.00389406 BTC           3.39 USD                    0.00097631 BTC

0.00862000   USDT   0.56 USD            -0.00401733 BTC            0.01 USD                    0.00000248 BTC

What does it mean I how I can fix it?

Thank you

Hi konvanyy,

The "value at transaction" is calculated as the sum of transactions with their converted historical value at the time of the transaction.
The individual values can be viewed on the "Trade Prices" page.
The values can be negative if the value of all incoming/purchased coins is lower then the value of all outgoing/sold coins.

[CryptoHippo37]

Absolutely love CoinTracking! It's my go to recommendation when anyone asks for tracking/tax software. Quick question...

Do you plan on adding CFT (Coss Fee Token) to the database? It's a new token that has the same utility as BNB, except it's on Coss.io, not Binance. Like I said, I'm a big supporter of CoinTracking and I'm trying to get the Coss community onboard but the biggest reservation right now is the lack of CFT coverage. Since CFT is used for trading fee discounts, all the trades from Coss will be erroneous when imported to CoinTracking until CFT is added. 

[jt7382]

What is happening with USDC? It has been the coinbase stablecoin and reflected at $1 in my account for weeks, but it is now showing a price of $1.30. I believe it's seeing a different coin with the same ticker.

What is the correct symbol for USDC on Coinbase to use?

[kovanyy]

Hi Dominik

I have a question about Balance by Exchange
I can't understand why Im having a negative balance in value at transaction.

 Amount      USD Value at transaction   BTC Value at transaction   USD Current value   BTC Current value
10.90000000   ZRX   -41.75 USD           -0.00389406 BTC           3.39 USD                    0.00097631 BTC

0.00862000   USDT   0.56 USD            -0.00401733 BTC            0.01 USD                    0.00000248 BTC

What does it mean I how I can fix it?

Thank you

Hi konvanyy,

The "value at transaction" is calculated as the sum of transactions with their converted historical value at the time of the transaction.
The individual values can be viewed on the "Trade Prices" page.
The values can be negative if the value of all incoming/purchased coins is lower then the value of all outgoing/sold coins.

Thanks Dominik
It is almost clear for me - so if sell amount of coins higher than I've bought it I'll get a negative balance, Am I right?

And one more question, please
Is it possible to have different types of portfolios in one account? I'll explain I'm asking about.
For example I'd like to have 3 types of portfolios - Hold, Trade, etc. I will make different transactions with the coins within this portfolios,
and I'd like to have different statistic for each portfolio for each coin in this portfolio. Now we can group transactions, but amount would be shown together.

[CoinTracking Dominik]

Absolutely love CoinTracking! It's my go to recommendation when anyone asks for tracking/tax software. Quick question...

Do you plan on adding CFT (Coss Fee Token) to the database? It's a new token that has the same utility as BNB, except it's on Coss.io, not Binance. Like I said, I'm a big supporter of CoinTracking and I'm trying to get the Coss community onboard but the biggest reservation right now is the lack of CFT coverage. Since CFT is used for trading fee discounts, all the trades from Coss will be erroneous when imported to CoinTracking until CFT is added. 

Hi CryptoHippo37,
the Coins and Assets in CoinTracking are sourced from: coinmarketcap.com and worldcoinindex.com. As soon as they are listed there, you will also find them in CoinTracking.
You can set a ticker and a prize yourself. See the following article: https://cointracking.freshdesk.com/en/support/solutions/articles/29000007203-entering-ico-coins-and-non-listed-assets

What is happening with USDC? It has been the coinbase stablecoin and reflected at $1 in my account for weeks, but it is now showing a price of $1.30. I believe it's seeing a different coin with the same ticker.

What is the correct symbol for USDC on Coinbase to use?

Hi jt7382,
the wrong price is caused by our coin source worldcoinindex.com. We are already on the problem and ask for some patience.

Thanks Dominik
It is almost clear for me - so if sell amount of coins higher than I've bought it I'll get a negative balance, Am I right?

And one more question, please
Is it possible to have different types of portfolios in one account? I'll explain I'm asking about.
For example I'd like to have 3 types of portfolios - Hold, Trade, etc. I will make different transactions with the coins within this portfolios,
and I'd like to have different statistic for each portfolio for each coin in this portfolio. Now we can group transactions, but amount would be shown together.

I would recommend you to create different accounts and connect them with each other. All linked accounts get the status of the "Master" account.
https://cointracking.freshdesk.com/en/support/solutions/articles/29000007216-create-multiple-accounts-on-cointracking

[jt7382]

Thank you for the fix.

Is there any way you can add XRN (Saronite)? Trades on Tradeogre.

[G crypto]

Hi CT team,

I'm booking monthly portfolio results into my Accounting program.

Strange thing I noticed is a valuation difference between my "Total unrealized and realized Gain / Loss each Currency" report and the Balance by day report. So the value according to unrealized report per 31/8 is the same as my value per 30/8 in 'balance by day' report.

I would like to report on month end valuation, but not sure which is the correct one? I would prefer to use the value from Unrealized gain/loss report, this because it already calculated results.

1-What report shows the actual month end value of my portfolio?
2- How can these values differ?
3-What is the timing/cut off for the valuation? Normally for accounting this would be close of business (COB), so COB Munich time? or COB exchange?
4-are there any easy ways or plug inns to use booking the portfolio changes into my Xero accounting?

Many thanks!
G

[CoinTracking Dominik]

Dear CoinTracking User. We would like to inform you about the following changes / improvements:

Several improvements and bugfixes

API Imports:
- Huobi API bugfix for fee calculation
- Kucoin bonus inputs are now supported
- itBit trade import bugfix
- Kraken API timezone fix


CSV Imports:
- Bitpanda CSV bugfix for fee calculation, date, deposits and withdrawals
- Exodus CSV Bugfix for fee calculation
- Bugfix for Legacy imports (Mt.Gox and others)
- Bitcoin.de referral payments are now imported as income
- Coinbase CSV - added support for all listed Coinbase coins (ZEC, BAT...)
- The CoinTracking CSV import can now optionally import TX-IDs as well as the buy and sell value. In addition, there is no more error message for numbers or texts with a comma.


Assignment of Coins:
- Numerous coins (e.g. ALT, PAC, ARB, SEATHER...) are now correctly assigned
- Correct assignment of individual exchange tickers (Binance YOYO -> YOYOW, Huobi PROPY -> PRO, and others)


Interface:
- Problems with the pop-up boxes in the dark theme (bulk edit/delete, edit tax reports, etc.) have been fixed
- Fixed sorting by date for the Instant Gains Calculator
- Fixed a problem on the "Trading Fees" page when a quotation mark is included in the comment


3 New Methods for Tax Calculation

By popular request, three new methods for tax calculation are now available to all CoinTracking users:

- AVCO - Average Cost
Similar to FIFO, but with the average cost basis for every purchase.

- ACB - Adjusted Cost Base
This special adjusted method can be used in some countries like Canada or Sweden.

- OPTI - Optimized Calculation
This method will always provide the lowest profit.
1) All purchases that are long-term (by default > 1 year) are sold first starting with trades with the highest profit.
2) If there are no more long-term purchases available, short-term purchases (by default < 1 year) will be sold, starting with trades with the lowest profit.

[toknormal]

Hi

Can anyone tell me why I get LESS gains tax when I un-click the "Consider all previous trades" checkbox ?

I would have thought that the act of "considering previous trades" would give you a non-zero cost base for the current year and therefore less gains tax whereas if you have that off you'd have to use a zero cost base for everything. So I seem to not be understanding what that thing does.