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

[ggeorgiev]

Can you guys add this coin? https://www.gate.io/trade/ALY_USDT

[Andreas_CoinTracking]

Can you guys add this coin? https://www.gate.io/trade/ALY_USDT

@ggeorgiev
We get our source of coin value from coinmarketcap.com and worldcoinindex.com then it is weighted by volume of transactions in the exchanges.
   
We are adding new coins automatically once they are listed on an exchange (usually within 1-3 days).
For now, you could try adding these tokens manually by following the instructions here:  https://cointracking.freshdesk.com/en/support/solutions/articles/29000007203-entering-ico-coins-and-non-listed-assets
 
Please note: We do not add new coins on request. They will be added automatically once there are trades on a known exchange.

The ALY (ALLY) token you mentioned is listed on CMC but with no reported volume yet. That it is why we do not have it in CoinTracking yet.

[ggeorgiev]

I requested OKEX transactions for their support. The trades sheet I received includes transaction fees but it does not specify which currency is the fee in. Anyone else running into the same issue?

[CoinTracking Dominik]

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

Updates and Improvements
- Tax Report settings are now permanently saved and do not have to be selected again each time
- 3 charts added to the report "Current Balance" (distribution of currencies and coins)
- Added filter to the "Missing Transactions" check to hide matches
- Added checkbox for the report "(Un)realised gains" to hide currencies equal/less zero
- Added sorting in the report "Balance by Exchange" to sort by coin name or by value
- All chart titles in the dashboard are now linked to the respective reports
- New Deribit CSV import

- Fix for deposits and withdrawals for the changed Binance API
- Fixed trading fee for EUR/USD trades in the Bitstamp API
- Fixed the chart labels for the "Balance by Exchange" chart, if the grouping is set to "Transaction Type"
- Income reports added to ACB tax calculations
- Optimized number formatting for all charts

[uoffendedme]

What is the most expedient way to find and delete consumed purchase pools and corresponding sells which have already been accounted for in a previous tax year? These transactions are of no use to me now but still count toward my subscription quota.. Thanks

[Andreas_CoinTracking]

@uoffendedme
It is not recommended to delete any previous transactions. CoinTracking is based on every transaction on which balances or reports are calculated and build from. Otherwise those calculations are wrong.
The only thing what could be done is to summarise transactions with the same trade pairs and same timestamp due to the same asset value at this time.

[calculatorduck]

A few questions before I sign up:


1. My income is from mining. If I mined directly to an exchange (e.g Poloniex) and then traded to BTC, then sent that BTC to Coinbase, can that be tracked or will it look like double transactions? Is there any sort of tax-advantaged way to track these lots across services?

2. If I want to use the service to generate a tax report for more than one year (2019 and prior years), do I need to sign up for multiple years of cointracking, or can I do several separate years report with one year active subscription to cointracking?

3. If I sign up for Pro and end up needing Expert can I just pay the difference to upgrade, or do I need to pay full price all over again?

4. If I use API import can I still manually enter or delete transactions if needed?


Thank you for answering if you can.

[Andreas_CoinTracking]

@calculatorduck.
Thank you that you are interested in using our service and raising those questions.
1. Yes this could be tracked. We have several transaction types like Income and Trades as described here: https://cointracking.freshdesk.com/a/solutions/articles/29000018272?lang=en. This article includes of course link to other FAQ articles about Mining.
Poloniex transactions could even be imported via API as lot´s of other exchanges as well.
The gains will be calculated according the method based on purchase pools as described here: https://cointracking.freshdesk.com/a/solutions/articles/29000031793?lang=en
2. You could enter all past transaction and create reports as long as you have subscribed to our service. Actually it is required to enter all past transactions to have consistent reports (see FAQ about purchase pool). E.g. if you signup now you can add data from 2013 (or even earlier) until today.
3. Of course you only pay the difference price once you upgrade to the next level.
4. Sure you can do. The only thing you keep in mind is that a transactions has a unique TradeID assigned by the API provider. This is a "is this transaction already there marker". That means if you delete a transaction which is imported via API it will be re-imported again. If you adjust the amount or other values of your transactions this entry will remain according your changes and not be re-imported.

For specific cases you could always reach out to us via our Ticket tool within your account or sending an E-Mail to support@cointracking.info

[calculatorduck]

@calculatorduck.
Thank you that you are interested in using our service and raising those questions.
1. Yes this could be tracked. We have several transaction types like Income and Trades as described here: https://cointracking.freshdesk.com/a/solutions/articles/29000018272?lang=en. This article includes of course link to other FAQ articles about Mining.
Poloniex transactions could even be imported via API as lot´s of other exchanges as well.
The gains will be calculated according the method based on purchase pools as described here: https://cointracking.freshdesk.com/a/solutions/articles/29000031793?lang=en
2. You could enter all past transaction and create reports as long as you have subscribed to our service. Actually it is required to enter all past transactions to have consistent reports (see FAQ about purchase pool). E.g. if you signup now you can add data from 2013 (or even earlier) until today.
3. Of course you only pay the difference price once you upgrade to the next level.
4. Sure you can do. The only thing you keep in mind is that a transactions has a unique TradeID assigned by the API provider. This is a "is this transaction already there marker". That means if you delete a transaction which is imported via API it will be re-imported again. If you adjust the amount or other values of your transactions this entry will remain according your changes and not be re-imported.

For specific cases you could always reach out to us via our Ticket tool within your account or sending an E-Mail to support@cointracking.info

Thank you very much for answering my questions, it sounds like I will be signing up soon as it should meet all of my needs.

[Andreas_CoinTracking]

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

Updates and Improvements

- New Celsius Network CSV import
- New Bitcoin.de API import
- New Bitfinex margin trade import

- Update of the Uphold CSV import to the new date format
- Update of the Tradeogre CSV import to the new date format
- The Coinbase CSV import now supports EOS
- The Poloniex API now also supports the import of payouts
- The Bitpanda import now also supports palladium and platinum transactions

- New format for the 2020 version of the Form8949 PDF report
- Blank pages can now be skipped in the Form8949 PDF report if needed

[Plenty]

Since late 2019, I have been showing a discrepancy in my Kraken exchange balance.

I believe you noted this as one of your changes/updates in your Dec 20, 2019 CT update: "The Custom Exchange Import can now overwrite wrong date formats"

It's been a long time since I connected CT with Kraken, but it appears that CT is (API) importing duplicate Kraken transactions where the timezone and timestamp appears to be slightly different with the same amount of coin withdrawn/deposited.

Yesterday, I spent a few hours hunting through CT and actual Kraken history to fix the issue.  I ended up finding and deleting duplicate txs .
As of yesterday my Kraken exchange balance was corrrect.

Today, however, these transactions re-appeared with additional discrepancies!!!

One thing that would be really helpful for me to troubleshoot on my own, is if you would let users see/audit which "New transactions have been imported" - not just read a notification about the number of txs and name of exchange frm which they came. I want to see that a five year deposit was re-imported today, if that was actually true.  Save me (and you) time looking for needles in a haystack.

Another thing that would be really helpful for me to troubleshoot on my own, is to see an audit of all of my CT User activity.  So for example if I update an API, I would like to see the timestamp of that activity. Was it the API update that caused this problem?  Also, user activity could mean anything, so clicking on dashboard, generating a report, editing a tx, etc. should show as an event which I should be able audit.

Anything you can do to implement these features would be greatly appreaciated.

[Dario3000]

One thing that would be really helpful for me to troubleshoot on my own, is if you would let users see/audit which "New transactions have been imported" - not just read a notification about the number of txs and name of exchange frm which they came. I want to see that a five year deposit was re-imported today, if that was actually true.  Save me (and you) time looking for needles in a haystack.

Take a look at the Extended Trade List: Reporting -> Trade List -> Change to full view
Here you'll see the trade date AND the date the transaction was added/imported.
This will allow you to check all recently imported transactions.

Regarding your Kraken API.
It should not import any duplicates. Maybe several APIs were active.
Please send us a support ticket and our team will take a look.

If you want to fix it yourself, go to the Enter Coins page and hit the "Bulk Edit/Delete" button.
You can delete for example all your Kraken trades that have been imported within the last x hours or days.
After that, go to the Kraken API page on CoinTracking, click the "edit" button and set the current date in the "start date" box.
This will prevent Kraken from importing any transactions before that date.

Another thing that would be really helpful for me to troubleshoot on my own, is to see an audit of all of my CT User activity.  So for example if I update an API, I would like to see the timestamp of that activity. Was it the API update that caused this problem?  Also, user activity could mean anything, so clicking on dashboard, generating a report, editing a tx, etc. should show as an event which I should be able audit.

Good idea. I will put that on my to-do list
As of now, you can see the date the API was created and the last timestamp of an import and check.
I will try to add additional logs as well.

Thanks and best regards,
Dario

[Its About Sharing]

How do you integrate a paper wallet held more than 1 year (for long term capital gains benefits) into cointracking?
In the country I am filing in, they only except FIFO. So, I will do my taxes that way for my trading, but with my long term paper wallets (when I roll them into, e.g. Ethereum) I want to legally get the long term capital gains. (Note - I am importing exchange date for the most part.)

I'm not from CoinTracking and they might still reply, but I had the same problem with bitcoins and can say a few words.

The basic idea is that you include all your paper wallet information into your bookkeeping.

You can manually import the paper wallet's bitcoin address into CoinTracking:

• Click on "Enter Coins".
• Scroll down to "Bitcoin Wallet Import" and click on it.
• Copy the paper wallet's public bitcoin address into the field "Your BTC Address".
• Fill in the rest of the form.
• Click the "Import …" button.

CoinTracking will then automagically read all coin movements on the paper wallet directly from the blockchain. But, of course, it still cannot know where you got the bitcoins from originally and how much you paid for them.

If the laws of your country, like Germany, make the sale of coins held longer than the limit completely tax-free and if you have held those coins for longer, then it plays no role for how much you bought them for tax purposes. The tax would be zero anyway.

If the law allows a lower tax, but still more than zero, after a certain holding time, like the US, then you still have to provide information on how and for how much you bought the bitcoins, so CoinTracking can determine the gain and the tax.

Does anyone know, for example, if you can use the above "Import Wallet" function (e.g. BTC, ETH) to track a paper wallet as the user above said?

In my case, let's say I have some ETH already bought from 2 months ago. I want to sell them in 10 months. So, if I buy more coins today, can I just import them into another address and have cointracking track that address using the import wallet function, using LIFO accounting, so that I get the tax benefits of holding them one year? (In other words, I don't want the coin software to count my newly bought coins as those sold in 10 months since I'm doing LIFO.)

I imagine once it see's the coins are moved, that I enter them as sold (if need be), so it stops tracking?

Thx in advance,
IAS

[Andreas_CoinTracking]

You could use our importers adding your ETH or BTC or other Altcoin address into your API job. And several/different addresses of course as well.
We are working with purchase pools and calculate them within your whole portfolio as described in this FAQ article: https://cointracking.freshdesk.com/a/solutions/articles/29000031793?lang=en
From there you have several options:
1. Depot separation: To separate them completely is to use depot separation where you need to assign your transactions beforehand here https://cointracking.info/trade_allocation.php before your could enable this option within your tax report advanced settings.
2. Trade Groups (see FAQ https://cointracking.freshdesk.com/a/solutions/articles/29000027248-how-to-create-trade-groups/en): Those could be filtered out on several reports. This article is very helpful here: https://medium.com/@droeder72/my-tool-for-keeping-an-eye-on-performance-tax-with-crypto-ed2e000c762d
3. Different account: Another option would be to separate them into a another (linked) account as described here https://cointracking.freshdesk.com/a/solutions/articles/29000007216?lang=en.

For specific cases you could always reach out to us via our Ticket tool within your account or sending an E-Mail to support@cointracking.info

[GamblerAce]

Hi Guys,

Thinking of signing up for CoinTracking. My question is, can I select to connect via the API to my Binance account, but NOT import all my prior trades and just my current active holdings and trades going forward? Essentially starting over in some ways, but I don't want to import my history, just current and going forward.

Is this possible to do or will it import all past trades regardless?

Thank you.

[Andreas_CoinTracking]

@GamblerAce

Thank you for being interested in using our software service.

Yes this is possible while choosing a start date within your API job as described in this article:
https://cointracking.freshdesk.com/a/solutions/articles/29000031154-create-and-delete-api-import-job/en
No transaction prior this date will be imported.
But keep in mind your balances and reports are calculated on all of your transactions imported into your account.
So if there are some missing the balances and reports are negative/wrong.
Those FAQs might be useful:
https://cointracking.freshdesk.com/a/solutions/articles/29000018817?lang=en
https://cointracking.freshdesk.com/a/solutions/articles/29000006990?lang=en
 

[Andreas_CoinTracking]

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

Updates and Improvements

- Support for the new Coinbase CSV format
- Updates to the Coinspot API
- Optimization of the ETH Wallet import
- Acceleration of the Coinbase Pro API import
- Acceleration of the OKEX API import

- At the bottom of the "Coin Charts" page you will now find further analyses for all coins, including UTC trends, as well as opening and closing prices

[Andreas_CoinTracking]

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

Updates and Improvements

- Binance fix for withdrawals that in some cases were not imported
- Coinbase CSV fix for staking income that in some cases was not imported
- The Coinbase CSV import now also supports "Rewards Income" and "Coinbase Earn"
- New CSV format for OKCoin and Gate.io files
- Fix for the Bitpanda API so that cancelled deposits are not imported
- Support for Krakens KFEE fees and deposits

[Andreas_CoinTracking]

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

Updates and Improvements

- New Crypto.com CSV import
- New Bitpanda Pro CSV import
- Updates for Coinspot, Binance, Bittrex and IndependentReserve
- Export function for all tables on the "Balance by Currency" page
- Connect your CoinTracking API with Cryptosheets' add-ins to automatically import and sync your CoinTracking data with Excel & Google Sheets. Further information can be found here: "Account -> API"

[Convington]

I've been using CT for a while now.  Does it just get more and more expensive depending upon how many transactions you accumulate???  That is what it looks like now that my membership expired.  I would think it would be "Transactions per year", but looks like total transactions if I am reading it correctly?

So, if I have:


2018: 3000 transactions
2019: 2000 transactions

I have less transactions/imports in 2019, but my cost goes up because I have over 3,500 transactions total?  Is that correct?  Trying to figure out if I pay again and I doubt it if it is just going to keep going up and up in price each year even though I am using it the same way and transactions are going down. 

BTW - those are just example numbers, I've been using since 2016 and haven't paid much attention to how much I was spending to keep my subscription up.  According to my email: I last paid for 2 years in 2018 which expired last month.  I paid .382 ETH then, which equates to about $234USD and based upon archive.org. That was approximately the 2-year rate for Unlimited (https://web.archive.org/web/20171228150557/https://cointracking.info/pro.php), 0.029BTC = $239.82 USD. 

But - does that mean I pay based upon the total number of transactions... OR have I been doing it wrong?  Unlimited now is $600 for a single year, which seems excessive to me for only max 3k transactions / year for me.

Anyway... hopefully that explains well what I am asking.