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

[muxmax]

nothing is fixed...all the same as before, update not finishing, wrong (negative) account value in app and more...

In case your upgrade bar stuck at 100% before the fix, just click on cancel and restart it. This will work.
Regarding negative values: This has nothing to do with the fix, but in most cases happens when not all exchanges are imported completely into your account.
Please make sure all of your transactions (exchanges and wallets) have been imported completely in your account (incl. all deposits and withdrawals).
If you need some help, send us a support ticket and our team will help you setting up everything in your account.

YES, that was the solution. the negative and wrong account value was appearing in the android app only. And was fixed after cancelling and restarting the (desktop) page. Now values ok. Thanks

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[CoinTracking Dominik]

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

Updates and Improvements

- Fixed a problem where the "Find Missing Transactions" report could not match purchases and sales correctly in some cases
- Gate.io trades are now imported with the correct time zone
- Fixed a problem where in some cases the CEX fee was imported incorrectly
- Fixed a problem where in some cases the Cryptopia API did not import transactions
- Fixed a problem where in some cases Gemini trades were not fully imported
- Updated coins supported by the Altcoin Wallet Import

[CoinTracking Dominik]

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

New CSV imports
- Abra
- BitMax
- Coss
- Hotbit
- GateHub Wallet
- CryptoBridge Deposit and Withdrawal import
- Cryptopia Deposit and Withdrawal import

Improvements
Corrected historical prices for Flexacoin (FXC)
The ticker for ATOM is now correctly assigned for Kraken trades

[AussieWayne]

Hello Cointracking
I have previously posted this and have not received an answer to the following. Could someone please advise re this question. Thank you

I would like to be able to run a  'Trades Backup" with the asset values and IDs that saves to my laptop and not your server for security purposes. This way if and when Cointracking is hacked I will not have my records visible to the bad guys as my account will be empty of all records and the Trades Backup will reside on my laptop and not the Cointracking server. 
When I need to do the next years Tax Return I will simply reload the previous years records from my laptop backup with all the assets values correctly retained and then enter the current transactions for that year.
How do I achieve this please?
Thank you
Wayne

[AussieWayne]

Hello Cointracking
I originally posted the following questions here some 59 days ago seeking clarification and advice re the following simple basic transaction so that I (and others) might better achieve an understanding of how Cointracking values and handles each transaction that is inserted. 
At this stage I am still waiting for a proper response to these very important questions that I have been asking for some time.

Understanding of this very basic principle of varying values within the software would certainly be advantageous to all concerned as we would be better equipped to locate, identify and correct these wrong values that are automatically inserted by Cointracking.
Obviously it would be far more professional if these incorrect values were not introduced in the first place.

Post of the 2nd March below
Hello
I have been trying to get Cointracking to function accurately since December with very mixed results unfortunately.
So I thought I would go back to basics and start again in trying to understand the workings of this mysterious software.
To this end I set up a new empty account and have been trying some dummy entries to try and understand how this software works but I am even more confused now.
Does anyone have any valid explanation as to why there are 4 different values that appear when I simply enter a sample buy transaction of 
1 BTC as shown below?

Interestingly and very confusingly Cointracking provides 4 differing values for the 1 BTC purchase on the nominated date and time which just serves to muddy the waters and potentially produce reports that are wrong. Check it out yourself but in my example below this is what I found for the 

1 BTC dummy purchase on 24 /02 /2019, I Entered $5898 as the Cost and $898 as the Fee and Home as the Exchange

$5898    The actual fiat cost value entered into the Enter Coins page (from LiveCoinWatch), Populates to the 'Sales Value' box✔

$5870    Cointracking automatically inserted this figure in the 'Purchase Value' box disagreeing with the above Sales Value box? Why ❓
$5535    The Cointracking Coin Calculator for 1 BTC on the purchase date value showed this figure when I checked out of interest. Why
               (Somewhat explained but your explanation should be noted on the Coin Calculator webpage  as it was not at the time. Alternatively why cannot the Calculators resultant values be the same data set as the 'Sales Value" makes sense to me and removes one of the discrepancies) 
$5875    Showed as the current value of 1 BTC in the Summary box on the Enter Coins page at the exact  time of the purchase entry? Why❓
               

Next I checked the Total Realised and Unrealised Gains Report and this report uses the incorrect $5870 that Cointracking inserted automatically as a Purchase Cost Value to do the calculation which can then only ever be wrong!.❓
This is further complicated and messed up beyond comprehension when I check the Tax Report / Closing Position Report which shows a 5th differing Cost value now inserted for this one simple purchase transaction of $5786. ❓

Is there any wonder that confusion reigns supreme within this software when you have now 5 differing values for 1 BTC at the same date and time. Every transaction entered for every coin will be likewise affected so it would be required to be be very careful and triple check everything as there are potentially so many mistakes.   

The only factual amount was the $5898 that I theoretically paid to buy the 1 BTC and believe it or not the Cointracking software totally ignores the one and only cost value that matters. How could this software ever be relied on to produce correct reports when it uses so many differing values for the same coin?
There has got to be a better more realiable way to manage crypto surely.
I have applied extensive manual editing to correct these mistakes this but it is so labour intensive to make it not really worth the time especially when Cointracking could and should correct their introduced problems so that all of this manual editing is not required.

Maybe I am missing something here so I am open to any advice as to why there should be any more than the one and only correct cost value used for all calculations, especially fiat based transactions.

Hopefully someone very knowledgeable from Cointracking will chime in here and explain this for all of us.
Thank you

[CoinTracking Dominik]

Hello Cointracking
I have previously posted this and have not received an answer to the following. Could someone please advise re this question. Thank you

I would like to be able to run a  'Trades Backup" with the asset values and IDs that saves to my laptop and not your server for security purposes. This way if and when Cointracking is hacked I will not have my records visible to the bad guys as my account will be empty of all records and the Trades Backup will reside on my laptop and not the Cointracking server. 
When I need to do the next years Tax Return I will simply reload the previous years records from my laptop backup with all the assets values correctly retained and then enter the current transactions for that year.
How do I achieve this please?
Thank you
Wayne

You can export this via the "Trade List (Full View)" with the corresponding activated columns: https://cointracking.info/trades_full.php
When re-importing, it is essential that the CSV export format of the "Enter Coins" page is used.
More information can be found on the CSV Importer page: https://cointracking.info/import/import_csv/

We have answered your second question several times in numerous tickets since December.
So I won't go into it again. Please read the answers in the tickets.

[AussieWayne]

You can export this via the "Trade List (Full View)" with the corresponding activated columns: https://cointracking.info/trades_full.php
When re-importing, it is essential that the CSV export format of the "Enter Coins" page is used.
More information can be found on the CSV Importer page: https://cointracking.info/import/import_csv/

We have answered your second question several times in numerous tickets since December.
So I won't go into it again. Please read the answers in the tickets.

Dominik
Thank you for your advice re the Trade List Full View which I followed.
I exported the report in in CSV and also in XLSX and also saved a copy in XLS to my laptop.
I then re imported into my Practice account via the Enter Coins page CSV and Excel import tools and compared the resultant entries with the original entries still in my Personal account and the bad news is that they are not identical. I tried re importing with all 3 versions of the exported data and all have the same problem.
The re import transfers all the correct existing data from the Comments column into the Group column, inserts a random date into the Comments column, deletes all the listings of exchanges under the Exchange column and removes all the entries under both the Fee and Currency columns?
You can see this for yourself in my Practice account.
Why is this happening when it is the same file(s) re imported that was exported moments earlier?
Obviously this messes all reports up and is useless to rely on for backup locally.
Please advise on how to fix this.


With regards to the second question you have never answered these series of questions once let alone several times.
If I had the answers do you really think that I would waste my time re asking the same questions over and over. I have much more to do than that.
Please take the time to have a close look at the individual points and values that I outlined and provide a detailed explanation of each here so that all can have the benefit of this knowledge on how and why Cointracking does what it does with all these multiple values and more importantly how to stop Cointracking from continuing to propagate false values.
I am sure that it would benefit all users as identifying and subsequently correcting all of these introduced mistakes consumes so much time and energy to get Cointracking to produce reliable results.
Thank you

[donjose]

Hi!

Regarding the Ledger Nano import to CT, I see that the Ledger app "Ledger Live" let's you export a csv with the movements ("settings" -> "accounts" -> "operation history" ). Has anybody used this file to import the movements to CT? If yes, is there anything I should do to the csv previus to import it?

I think it would be great if CT developers implement the Ledger wallet import instructions

[CoinTracking Dominik]

Hi!

Regarding the Ledger Nano import to CT, I see that the Ledger app "Ledger Live" let's you export a csv with the movements ("settings" -> "accounts" -> "operation history" ). Has anybody used this file to import the movements to CT? If yes, is there anything I should do to the csv previus to import it?

I think it would be great if CT developers implement the Ledger wallet import instructions

You can try to import the file via the "Custom Exchange Importer".
If you need help, please provide the file in a ticket via our HelpDesk (https://cointracking.freshdesk.com)
We will then also look at the file to see if we can build an importer for it.

[crypto_poor]

Hi!

Just checked my Tax report for 2018 and realized that the profit/loss was way more high than I recall to have in my account... so I checked the operations in the report, and spotted many operations with Cost Basis equals 0 in some assets.

See an example of asset without price in the timeline, in this case RNTB doesn't have any value for dates prior to 25th March 2018:
https://i.ibb.co/MhxcMB6/chart-1.jpg


Is this the root cause for the wrong calculation of the profit/loss?
What should I do to fix this lack of prices?
Is there any general solution to this beside adding it by hand on each operation? And if this is the case, where I'm supposed to get that data from? Maybe from the exchange?

Thanks for your help in advance

[CoinTracking Dominik]

Hi!

Just checked my Tax report for 2018 and realized that the profit/loss was way more high than I recall to have in my account... so I checked the operations in the report, and spotted many operations with Cost Basis equals 0 in some assets.

See an example of asset without price in the timeline, in this case RNTB doesn't have any value for dates prior to 25th March 2018:


Is this the root cause for the wrong calculation of the profit/loss?
What should I do to fix this lack of prices?
Is there any general solution to this beside adding it by hand on each operation? And if this is the case, where I'm supposed to get that data from? Maybe from the exchange?

Thanks for your help in advance

Hi crypto_poor,
my colleague has already explained this in the ticket as the cause of the used up purchase pool.
You will find more information in the response to your ticket.

[AussieWayne]

Dominik
I note that you are answering other questions but are not providing answers to my questions such as the one below.
Why are you choosing to just ignore my important questions?
I need an answer to this problem with the backup please.(see below)



Thank you for your advice re the Trade List Full View which I followed.
I exported the report in in CSV and also in XLSX and also saved a copy in XLS to my laptop.
I then re imported into my Practice account via the Enter Coins page CSV and Excel import tools and compared the resultant entries with the original entries still in my Personal account and the bad news is that they are not identical. I tried re importing with all 3 versions of the exported data and all have the same problem.
The re import transfers all the correct existing data from the Comments column into the Group column, inserts a random date into the Comments column, deletes all the listings of exchanges under the Exchange column and removes all the entries under both the Fee and Currency columns?
You can see this for yourself in my Practice account.
Why is this happening when it is the same file(s) re imported that was exported moments earlier?Huh
Obviously this messes all reports up and is useless to rely on for backup locally.
Please advise on how to fix this.

Thank you

[mwolfod]

How can I generate a Report, or automatically updated listing, that will allow my coin value to increase say from Masternode income or Mining, but NOT change the initial Cost.  

Currently, any coins added, from whatever source (purchase, MN Income, Mining, trading, etc) are added to the initial Cost Basis.  This is wrong; Cost Bais does not change with subsequent purchases. 

What I want is a more accurate representation of the actual gains/losses on a given coin, one that properly shows the correct Cost Basis for the Coin.

Any help would be appreciated.

[CoinTracking Dominik]

Thank you for your advice re the Trade List Full View which I followed.
I exported the report in in CSV and also in XLSX and also saved a copy in XLS to my laptop.
I then re imported into my Practice account via the Enter Coins page CSV and Excel import tools and compared the resultant entries with the original entries still in my Personal account and the bad news is that they are not identical. I tried re importing with all 3 versions of the exported data and all have the same problem.
The re import transfers all the correct existing data from the Comments column into the Group column, inserts a random date into the Comments column, deletes all the listings of exchanges under the Exchange column and removes all the entries under both the Fee and Currency columns?
You can see this for yourself in my Practice account.
Why is this happening when it is the same file(s) re imported that was exported moments earlier?Huh
Obviously this messes all reports up and is useless to rely on for backup locally.
Please advise on how to fix this.

Thank you

Then something went wrong with one step. Please write us a ticket via our HelpDesk.

[CoinTracking Dominik]

How can I generate a Report, or automatically updated listing, that will allow my coin value to increase say from Masternode income or Mining, but NOT change the initial Cost.  

Currently, any coins added, from whatever source (purchase, MN Income, Mining, trading, etc) are added to the initial Cost Basis.  This is wrong; Cost Bais does not change with subsequent purchases.  

What I want is a more accurate representation of the actual gains/losses on a given coin, one that properly shows the correct Cost Basis for the Coin.

Any help would be appreciated.

Hi mwolfod,
incoming transactions like "mining" and "income" receives a cost base at the time of receipt.
The cost basis of the initial coins is not changed.
Could you please explain the case in more detail using an example?

[AussieWayne]

Then something went wrong with one step. Please write us a ticket via our HelpDesk.

Dominik
I have just tried this all again.

Which step?
There are a total of 2 steps
Step 1. Export .csv report to hard drive and save
Step 2. Import .csv report to Cointracking
All completed within 2 minutes.
Same problems as reported to you before so which step is wrong???

I exported the report in CSV Extended view to my laptop.
I then re imported the same file into my Practice account via the Enter Coins page CSV and Excel import tools and compared the resultant entries with the original entries still in my Personal account and the bad news is that they are not identical.

The re import transfers all the correct existing data from the Comments column into the Group column, inserts a random date into the Comments column, deletes all the listings of exchanges under the Exchange column and removes all the entries under both the Fee and Currency columns?
You can see this for yourself in my Practice account.
Why is this happening when it is the same file(s) re imported that was exported moments earlier?
Obviously this messes all reports up and is useless to rely on for backup locally.
Please advise on how to fix this here openly on this forum as from experience things seem to get lost in the Help Desk.
Thank you

[skyflowers]

Hi,

Excellent software.

I have a couple of questions.

1) My FIAT dollar value shows negative. It's roughly a 1/3 of my investment, so not sure why this is the case. #howfix?
2) Where do I find the total value of FIAT investment? I need to check the balance vs capital gain.

Thanks.

[Mr_Bee]

Then something went wrong with one step. Please write us a ticket via our HelpDesk.

Dominik
I have just tried this all again.

Which step?
There are a total of 2 steps
Step 1. Export .csv report to hard drive and save
Step 2. Import .csv report to Cointracking
All completed within 2 minutes.
Same problems as reported to you before so which step is wrong???

I exported the report in CSV Extended view to my laptop.
I then re imported the same file into my Practice account via the Enter Coins page CSV and Excel import tools and compared the resultant entries with the original entries still in my Personal account and the bad news is that they are not identical.

The re import transfers all the correct existing data from the Comments column into the Group column, inserts a random date into the Comments column, deletes all the listings of exchanges under the Exchange column and removes all the entries under both the Fee and Currency columns?
You can see this for yourself in my Practice account.
Why is this happening when it is the same file(s) re imported that was exported moments earlier?
Obviously this messes all reports up and is useless to rely on for backup locally.
Please advise on how to fix this here openly on this forum as from experience things seem to get lost in the Help Desk.
Thank you

Hi AussieWayne,

Exporting the trade list is really a great way exporting all of your data including Tx and buy and sell values.

Before importing you have to move the columns around and adjust the headers from the export so they are in the right order. This is the order what I'm using:
Type,Buy Amount,Buy Currency,Sell Amount,Sell Currency,Fee,Fee Currency,Exchange,Trade-Group,Comment,Date,Tx-ID,Buy Value in your Account Currency,Sell Value in your Account Currency

Also pay particular attention to the date column. That's where things usually get messed up for me. I use a lot of Custom Exchange imports and have to adjust the cell format for the date column most of the time before importing. I'm sure that there's an easy way but I haven't had the time to look into it.
Looking at my import template the cell format for the date column should be as follow: yyyy-mm-dd h:mm:ss
But that's just for me. I might use different regional setting on my computer than you. Try it out. If you get the right date and time you're fine. Other than that this method of exporting all your trading data and re-import into another account works beautifully.

If you still can't get it right try using google sheets. Excel messes with a lot of things and if you don't fully understand it you might get frustrated and give up in the end. Or use a text editor like Notepad++. One of the best ways to manupilate but not change the format of a csv. Although not as convenient as excel.

There's also another method of moving data between accounts.
1. Create a backup in your main account
2. Click restore on that new backup
3. You can now select the account, if connected, where your backup should get restored.

Very convenient I find.

Don't give up mate. I also struggle with a view things and there's a steep learning curve but the more I try and play around the more I like it. Also every country has different tax and reporting requirements. It's a lot for them to cover.

If you're not sure what to lodge with your tax return and whether your stuff is correct or not then at least lodge something. You can still amend once you got the hang of it and got it right. --> No tax advise here!!!

I haven't found a better and more complete tool other than CT.

Cheers and good luck

[AussieWayne]

Hi AussieWayne,

Exporting the trade list is really a great way exporting all of your data including Tx and buy and sell values.

Before importing you have to move the columns around and adjust the headers from the export so they are in the right order. This is the order what I'm using:
Type,Buy Amount,Buy Currency,Sell Amount,Sell Currency,Fee,Fee Currency,Exchange,Trade-Group,Comment,Date,Tx-ID,Buy Value in your Account Currency,Sell Value in your Account Currency

Also pay particular attention to the date column. That's where things usually get messed up for me. I use a lot of Custom Exchange imports and have to adjust the cell format for the date column most of the time before importing. I'm sure that there's an easy way but I haven't had the time to look into it.
Looking at my import template the cell format for the date column should be as follow: yyyy-mm-dd h:mm:ss
But that's just for me. I might use different regional setting on my computer than you. Try it out. If you get the right date and time you're fine. Other than that this method of exporting all your trading data and re-import into another account works beautifully.

If you still can't get it right try using google sheets. Excel messes with a lot of things and if you don't fully understand it you might get frustrated and give up in the end. Or use a text editor like Notepad++. One of the best ways to manupilate but not change the format of a csv. Although not as convenient as excel.

There's also another method of moving data between accounts.
1. Create a backup in your main account
2. Click restore on that new backup
3. You can now select the account, if connected, where your backup should get restored.

Very convenient I find.

Don't give up mate. I also struggle with a view things and there's a steep learning curve but the more I try and play around the more I like it. Also every country has different tax and reporting requirements. It's a lot for them to cover.

If you're not sure what to lodge with your tax return and whether your stuff is correct or not then at least lodge something. You can still amend once you got the hang of it and got it right. --> No tax advise here!!!

I haven't found a better and more complete tool other than CT.

Cheers and good luck Smiley

Mr Bee
Thank you for taking the time to respond with your thoughtful advice.
I have tried exporting via the Trades List and also via the Trade Table and then re importing the same unedited file back into Cointracking.
Both ways introduce different mistakes and differing results due to the multiple values CT applies.
I am still waiting on a response from CT support after supplying them with all the files and detailed info so will let you know the outcome.

Creating a backup only saves the data into CT and not on my laptop unfortunately. I would like to remove all backups to my local hard drive so that when and if the online security at CT is breached then my records should be safe as they will not be stored on their servers.

I now have a pretty good understanding of the date format problems having spent countless hours on understanding and solving various date problems to be able to import and make sense of my records. It seems to work in various date formats not just the one which is as it should be to cater for different formats used around the world.

The learning curve as you mention is steep beyond belief. I acknowledge that what CT is attempting to do is very complicated and convoluted and has so many parameters to consider in arriving at meaningful results BUT it introduces multiple values  for each transaction as outlined in my earlier post on the 2nd March re the hypothetical purchase of 1 BTC example. This where a lot of the incorrect results stem from and CT support still refuses to supply a detailed explanation of why it does this?

I do agree that CT is the potential leader in the field of crypto record keeping and it is such a shame that they do not put a greater effort into providing support to their customers when those customers identify problems that are occurring within the way that CT works. I still do not have a detailed answer to my post of 2nd March despite their protestations that they have answered each of these queries which they certainly have not. Just imagine how much better CT would be if they actually learned from their customers reports of the problems that they experience instead of blindly believing that CT is PERFECT and that customers reports are always customer error. I acknowledge that due to the complexities involved with CT some but not all customer complaints are customer error but...

I do thank you for your positive encouragement and I will not be giving up as I can see the potential of the power of the CT program:)
Hopefully these blemishes can be straightened out and in time CT can assume the mantle of the worlds leading crypto accounting software.
Wayne

[tvarc]

Hi,

I have noticed that VHS coin is showing some severe error in its value on CT.
Its showing that the value is 45000 sats instead of 20 sats.

Is there anyway to fix this?