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

[jjj0x]

i know you guys are busy since its tax season

but any chance Terra/luna defi can get prioritized

especially for those of us that used Anchor for the 20% deposit interest

and borrowed off of anchor collateral in 2021

I am not expecting this before April 15 for USA customers when our taxes are due

but maybe by late spring or early summer

[1714781048]

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[1714781048]

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[1714781048]

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[matblam]

maybe others have asked for this before

but can you guys please start a Discord

would be nice and many times community members can answer each others questions fairly easily.

this feels so 2013!

I second this

[Peter111280]

@dolphintree
We have a FAQ with options here: "Lending / borrowing crypto or sending to / receiving from a friend - which transaction types should I use?" (https://cointracking.freshdesk.com/a/solutions/articles/29000029374?lang=en)

hi i am new here end i need really help.
my cointracking account is a mess
1 the app dont see my staked chromia on bsc.
2 the imported transactions are full with errors
3 cant import hotbit xls file it shows zero transactions
 i am trying to generate tax report end is too many mistakes

[Andreas_CoinTracking]

@jjj0x
It is not "our" forum. We just initiated this Thread long time ago and do Q&A here if needed to support community. We are in progress of checking Discord server and other options.

@matblam
We are improving the blockchains over the next months. Please refer to this article: "My blockchain transactions are not imported correctly. Why?" (https://cointracking.freshdesk.com/a/solutions/articles/29000040147?lang=en) For now you can only add/adjust transactions manually.

@Peter111280
1. Reason is always wrongly added or missing transactions.
2. Depends on the exchanges or how you import your data. Please check this FAQ here first: "How to validate my account?" https://cointracking.freshdesk.com/a/solutions/articles/29000035339?lang=en
3. Hotbit offers 2 files, one is working with our importer, the other not (additional columns). Please follow exactly the instructions here.

[cadbane]

Gemini Earn Question: The Gemini Earn totals coming from the Gemini API are more than twice the value on the Gemini 1099 I received. The API shows ‘daily’ interest postings for each coin, whereas the Gemini site simply shows monthly interest Postings.  The monthly interest postings totals match the amount in the Gemini 1099…I am perplexed. Thoughts?

[atkins69]

Hello, thanks for your help!
I've another question for you:

Since 25 February Kucoin API has been doing a strange thing.

Kucoin used to import data with the name "Kucoin" under the heading "Exchange".
Now under this heading, the name is no longer "Kucoin" but creates duplicates with other labels such as "Kucoin Trading" and "Kucoin Main".
So the name of the exchange is no more "Kucoin" but "Kucoin Trading" or "Kucoin Main". This creates confusion and the data is all wrong.

Does this happen to you? Is there any way to solve this?

Thanks!

[Andreas_CoinTracking]

@cadbane
This issue was fixed some days ago. Please do a backup of all of your transactions, delete all GEMINI Earn transactions and re-import them again via "check now" at your GEMINI API job.

@atkins69
We have released a new API version using separate exchange names for separate accounts importing the transactions from the past 2 years with the following restriction[https://cointracking.freshdesk.com/en/support/solutions/articles/29000040271] (e.g. Lending) described here where KuCoin unfortunately does not deliver the data. Here you need to complete them manually or ask via KuCoin Support for an Excel file with all transactions: Kucoin CSV Import (https://cointracking.freshdesk.com/en/support/solutions/articles/29000027223-kucoin-csv-import)
Deleting by exchange condition is described here: Bulk Edit/Delete - Instructions (https://cointracking.freshdesk.com/a/solutions/articles/29000032637?lang=en)
Please create backup of your data beforehand and regularly as described here: Create backup, restore or export your account data [https://cointracking.freshdesk.com/a/solutions/articles/29000031008?lang=en]
If your balance was fine before you can add a start date to your API job after deletion: How to avoid or unwanted transactions/re-imports or SCAM token via API jobs? [https://cointracking.freshdesk.com/a/solutions/articles/29000038763?lang=en]

[cadbane]

Thanks Andreas! After, deleting Gemini Earn interest transactions and running the API again, ‘no’ interest transactions downloaded. So, I created a new API and ran again. This time only 2022 Interest transactions downloaded, but none for 2021…any recommendations?

[atkins69]

Thanks Andreas!

I will try to solve the problem with the suggestions you gave me, I hope it works.

Have a nice day!

[muhbitcorns]

I'm having a very strange issue with KuCoin API as well. A few days ago I noticed that my KuCoin altcoin balance was too high and was showing a negative balance for BTC. API was on since May and last import was February 28 and no trades have been made since then. I have a duplicate account which had not imported since April and I did a new import. This duplicate account then showed the correct balances in Kucoin Trading but it also showed a balance in Kucoin. So I bulk deleted all Kucoin and Kucoin Trading and Kucoin Main entries and did a fresh import. This import took a long time and at one point before it was completed I saw my alt coin balance was exactly correct, but USDT balance was negative. Finally when the import was completed the USDT balance was correctly brought to 0 but the altcoin balance was now about 70% of the actual balance. I'm at a loss as to how I should proceed since I've already done a complete bulk delete and fresh import. The Kucoin Main exchange is also showing an incorrect balance which should be zero. Another note. My Kucoin account is more than 2 years old. However, it was completely empty before I funded it and began trading again 19 months ago.

[Andreas_CoinTracking]

@muhbitcorns
Please check my last reply. If you have older transactions then you need to add those manually or via CSV import as KuCoin does not offer all data via API then. See restrictions.
So if you miss USDT transactions only please compare imported vs. real USDT transactions at your KuCoin account and add those manually if needed.

[btadine]

Hey Andreas,

I'm having an issue with a token swap that is not recognized by Cointracking. I bought some VEN in 2018 which was renamed to VET at some point after. Cointracking is not able to link the buys and the sells for that coin, and the sells are counted as I purchased at 0. Any way to fix this in an easy way?

I guess my only option is to remove the VEN transactions and add them manually as VET?

Thanks.

[muhbitcorns]

@muhbitcorns
Please check my last reply. If you have older transactions then you need to add those manually or via CSV import as KuCoin does not offer all data via API then. See restrictions.
So if you miss USDT transactions only please compare imported vs. real USDT transactions at your KuCoin account and add those manually if needed.

I've already backed up the transactions which were older than 2 years to a csv file and re-imported them. So there are no missing transactions. However the KuCoin exchange balances shown in cointracking are still incorrect. Is the solution to request a full trade, deposit, withdrawal, fee, and bonus history in csv format from KuCoin support, and then go through line by line to compare to the data imported by cointracking? I have over 7200 entries for this exchange.

[Andreas_CoinTracking]

@muhbitcorns
Yes, this is a good approach here if you have wrong balances. The reason is always missing or wrong transactions.

[atkins69]

Hello,

I’ve a question about some warnings in the tax report.

Specifically, when I receive this message: « There is no suitable purchase to this sale »

I know there is a dedicated page and I have read it:

https://cointracking.freshdesk.com/en/support/solutions/articles/29000021912-warnings-in-the-tax-report-there-is-no-suitable-purchase-to-this-sale-all-purchasing-pools-consume

But I still don't know how to solve the problem.

For example, I have a Deposit of EUR on Coinbase that is from outside, which is normal. Then with this EUR deposit I exchange it for ETH on Coinbase, and for this transaction the system gives me the error "There is no suitable purchase to this sale".

How do I fix this error? In the FAQ of the link above it says:

« The purchase pool warnings « There is no suitable purchase to this sale » are most often caused  by the fact that there is only a deposit of a coin, but no cost basis inducing transaction before. It is as if this coin gets dropped out of thin air without a cost basis - and when this coin is finally spent, a warning appears. »

But In this case is normal that «  this coin gets dropped out of thin air without a cost basis » because it is a Deposit that comes in EUR from outside.

How do I solve this specific problem?

Thank you in advance

[Andreas_CoinTracking]

@atkins69
If those are "only" FIAT pool warnings you can skip them disable the slider in your tax report settings as described here: https://cointracking.freshdesk.com/en/support/solutions/articles/29000018222-working-with-two-fiat-currencies-cost-basis-0-for-fiat
Otherwise you have wrong or missing transactions. Then validate your account as described here: https://cointracking.freshdesk.com/a/solutions/articles/29000035339?lang=en

[St.Stephan]

Hi Andreas

I have read the faq and docs on tracking staking - but since my situation involves restaking and compounding, I would like to confirm the step by step I came up with. Maybe if you can confirm or correct it will help others.

Lets say I intitially stake 10 cvxcrv on Convex, and earn 1 crv, 1 cvx, and 1 3crv as rewards. I want to restake and compound these rewards.

Step 1: Name Convex platform 'convex staking'. Deposit 10 crvcvx from 'my wallet'. Cost basis gets automatically assigned.

Step 2: Withdraw the rewards: 1 crv, 1 cvx, 1 3crv.  Assign catagory 'income'. This automatically gives them a cost basis of zero moving forward in the system. Correct?

Step 3; Convert the rewards back to cvxcrv and restake. Zero cost basis gets carried forward automaticvally into the conversion from step 2. Now I have 10 original crv in 'convex staking wallet', and 3 'new' crv now staking -   with two different cost basises.

Step 4: When I eventually stop staking and withdraw 14 cvxcrv to 'my wallet', all cost basis is correctly calculated already. I can  then sell those coins: 10 carrying  original cost basis, and the 3 coins from the second staking round having zero cost basis.

Does this work? Essentially just tracking profits, not staking and unstaking.

thanks

Chas

[atkins69]

Thanks Andreas, I will try to fix this problem with your suggestions.

[Andreas_CoinTracking]

@Chas
Yes this sounds good even if I do not fully understand the crv/cvx crvcvx topic here.
Convert sounds to me like a trade. If your country is not affected by the 10 year rule you do not need to use "staking" as trade group to separate the pools.
@atkins69
You are welcome.

[St.Stephan]

Thanks Andreas. I will try this and let you know if i run into issues.

@Chas
Yes this sounds good even if I do not fully understand the crv/cvx crvcvx topic here.
Convert sounds to me like a trade. If your country is not affected by the 10 year rule you do not need to use "staking" as trade group to separate the pools.
@atkins69
You are welcome.