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Author Topic: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies  (Read 81900 times)
Extreme
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September 18, 2017, 08:01:57 PM
 #661

I'm having an issue on the Realized/Unrealized Gains page. If I uncheck "Add Deposits & Withdrawals to remaining amount" it is showing my ETH balance in the negative. If I turn it on it shows the right ETH balance, but my cost per unit is in the negatives, so it throws off all of my profit values. What is the proper way to deal with this? All of the coins in my balance were ones I recently bought, and did not come in from a deposit, so it should still know the cost per unit.
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Dario3000
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September 18, 2017, 10:14:29 PM
 #662

This is definitely an awesome product and I'm very happy with it since I'm HODL'ing more than 25 coins at the moment.
It will give you a nice overview of all the coins you're keeping.

But I do have a question; Why are there only 2 exchanges selectable when I've selected EUR? (Bitcoinaverage + Bitcoin.de)
Hey,
I will add more exchange prices soon for EUR and USD.
But I'm still recommending BitcoinAverage. The price usually fits very good to all exchanges.


@Extreme:
If the ETH balance is negative with the unchecked box, your ETH trades are not listed completely on CoinTracking.
Please double check if all your ETH trades have been imported and also enter all ETH you have bought on other exchanges.

Best,
Dario

CoinTracking.info - Your Profit / Loss Portfolio Monitor and Tax Calculator for all Digital Currencies
Simply the best way to track your digital assets accurately.
Get live data for more than 4800 coins, assets and commodities. Track Gains & Balances from all your exchanges and wallets.
seeARMS @ Bit-Bank
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September 20, 2017, 03:15:24 PM
 #663

Any updates on the CEX.io API import? Thanks!

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Dario3000
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September 20, 2017, 03:18:18 PM
 #664

Any updates on the CEX.io API import? Thanks!
Should be done until Sunday Smiley

CoinTracking.info - Your Profit / Loss Portfolio Monitor and Tax Calculator for all Digital Currencies
Simply the best way to track your digital assets accurately.
Get live data for more than 4800 coins, assets and commodities. Track Gains & Balances from all your exchanges and wallets.
Galletera
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September 21, 2017, 03:36:37 PM
 #665

Hello! Couple of questions.

1. If I buy 100 units of one coin at various prices and my 'cost of unit' appears as 0.25 (Example), why does the "cost of unit" change after I sell some of the 100?

Rough example, I buy (50) units at 0.18, (35) at 0.25 and (15) at 0.40. My "cost per unit" is 0.245. Why is the 'cost of unit' changing after I sell 10 coins (at any price)?

I'm using "unsold Assets as Cost Basis" and was under the impression the "cost of unit" is sort of all the prices you have payed when buying, averaged out.

2. The "counterpart prices" the most realistic, precise ones? They include how much I payed + fees for the transaction while "Transactions prices" do no include fees?



Lastly a suggestion: A setting where we could select from which exchange we want the "Current Price" to be shown for each coin.

I only trade coins that are on Bittrex, so I'd like to be able to click "Select all" coins and then check a box saying "Get Current Price for Un/Realized gains/losses" --> Bittrex.
Dario3000
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September 21, 2017, 05:31:22 PM
 #666

@Galletera:
The 'cost per unit' will be calculated from the weighted average of all unsold assets according to your selected method (e.g. first-in first-out).

Let's use your example:
-> buy (50) units at 0.18, (35) at 0.25 and (15) at 0.40.
selling 10 units will result in a remaining amount of:
-> buy (40) units at 0.18, (35) at 0.25 and (15) at 0.40.
And this will lead to a different cost per unit price as 10 units @ 0.18 have already been sold.

Correct, counterpart prices will include the spread and the fees.

The average prices we are using will match Bittrex prices in most situations.
But yes, adding more exchange prices is already on our to do list Smiley

Best,
Dario

CoinTracking.info - Your Profit / Loss Portfolio Monitor and Tax Calculator for all Digital Currencies
Simply the best way to track your digital assets accurately.
Get live data for more than 4800 coins, assets and commodities. Track Gains & Balances from all your exchanges and wallets.
seeARMS @ Bit-Bank
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September 25, 2017, 04:08:20 PM
 #667

Any updates on the CEX.io API imports?  Grin Grin

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Dario3000
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September 25, 2017, 09:50:25 PM
 #668

Any updates on the CEX.io API imports?  Grin Grin

Sorry, still in progress.
CEX is more complicated than I thought.
But it will come very soon. I promise Smiley

CoinTracking.info - Your Profit / Loss Portfolio Monitor and Tax Calculator for all Digital Currencies
Simply the best way to track your digital assets accurately.
Get live data for more than 4800 coins, assets and commodities. Track Gains & Balances from all your exchanges and wallets.
zulu89
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September 27, 2017, 05:59:20 PM
 #669

HI, I just started using cointracking and it blew my mind. The functionality is amazing and awesome features. I'm a new user so I'm sorry if this is a really stupid query. I just want to ask how do i Input something like this. I bought 100 EOS @2 and sold it @1.34 so basically I got 134USD. Now with this same USD i bought 11.5 Monaco @12. Creating two new entries distorts the investment figure. So how do i got about this?
Dario3000
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September 28, 2017, 01:38:47 AM
 #670

HI, I just started using cointracking and it blew my mind. The functionality is amazing and awesome features. I'm a new user so I'm sorry if this is a really stupid query. I just want to ask how do i Input something like this. I bought 100 EOS @2 and sold it @1.34 so basically I got 134USD. Now with this same USD i bought 11.5 Monaco @12. Creating two new entries distorts the investment figure. So how do i got about this?
Hey and thanks a lot. I really appreciate it.

The correct entries are:
Buy 100 EOS | Sell 200 USD
Buy 134 USD | Sell 100 EOS
Buy 11.5 MCO | Sell 138 USD

It will show a realized EOS loss of 66 USD (because all coins were sold) and a current unrealized MCO loss of 18 USD (as all MCO are still available).
The sum is your total gain/loss for those 3 trades.
(The unrealized gain/loss will change depending on the current MCO market price. The realized gain/loss will not change any more).

Best
Dario

CoinTracking.info - Your Profit / Loss Portfolio Monitor and Tax Calculator for all Digital Currencies
Simply the best way to track your digital assets accurately.
Get live data for more than 4800 coins, assets and commodities. Track Gains & Balances from all your exchanges and wallets.
zulu89
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September 28, 2017, 04:25:41 PM
 #671

Hey thanks for the reply. Yeah i got the point of how to input it from an accounting point of view but my noob question is in the earlier example I have put in 200 USD in total and when i input it like you said it reflects as 350 usd approx. So when i see my total trades and the amount I have invested vs their current market price, won't that give me a distorted figure. Should i make the monaco entry as something other than trade?
coolcash
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September 28, 2017, 08:12:34 PM
 #672

I am not sure if there is a report for this or I am not sure what its called. I am looking to figure out my profit from my completed buy/sell pairs. Such as 1 ETH buy then 1 ETH sell at a higher price. Is this an option?

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zulu89
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September 28, 2017, 08:23:32 PM
 #673

I am not sure if there is a report for this or I am not sure what its called. I am looking to figure out my profit from my completed buy/sell pairs. Such as 1 ETH buy then 1 ETH sell at a higher price. Is this an option?

I'm hoping they have such an option especially for people like me who rebalance their portfolio a lot. One way out is adding the input for the new trade from the proft/loss of the last trade as an income instead of a trade(exchange) but then your new trade doesn't get displayed in the avg price and profit/loss thing. Maybe cause i'm new to this platform I've completely misunderstood things but hopefully there's a way out which i've just overlooked.
Dario3000
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September 28, 2017, 08:50:41 PM
 #674

@zulu89:
Are you sure, you have not switched "Buy" and "Sell" on your trade entries?
Because 350 should not be the result of your example.

@coolcash:
Not sure if I get it right.
You can check the "Reporting -> Trade Analysis" where you can analyse all trades by trade-pair, exchange, group and date.
Also it could be interesting to check the 2nd table on the gains page (minimized by default) where you can find all sales according to your selected method (FIFO, LIFO...) which is also searchable, and filterable by exchange, group and date.

Dario

CoinTracking.info - Your Profit / Loss Portfolio Monitor and Tax Calculator for all Digital Currencies
Simply the best way to track your digital assets accurately.
Get live data for more than 4800 coins, assets and commodities. Track Gains & Balances from all your exchanges and wallets.
zulu89
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September 28, 2017, 11:21:48 PM
 #675

No, I did it exactly as you said. The EOS pair is fine. It shows a loss of 66USD. But when i make an input for the monaco trade even according to your example i enter 138 USD as the investment. My point being in real terms I have just put in 200 USD innit. I get the accounting bit but is there a way to see what I'm asking. Also see my second post, it's related to the same thing i said earlier. Thanks a lot for all your help so far and replying so promptly. I'm loving cointracking and it's features. Just want to clear this confusion.
Dario3000
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September 29, 2017, 03:53:24 AM
 #676

No, I did it exactly as you said. The EOS pair is fine. It shows a loss of 66USD. But when i make an input for the monaco trade even according to your example i enter 138 USD as the investment. My point being in real terms I have just put in 200 USD innit. I get the accounting bit but is there a way to see what I'm asking. Also see my second post, it's related to the same thing i said earlier. Thanks a lot for all your help so far and replying so promptly. I'm loving cointracking and it's features. Just want to clear this confusion.
Well... the thing is, that you have spent 200 USD on EOS and not on MCO. And you can not pass through the value of one coin to another.
That's why the system is calculating an EOS gain and a MCO gain for you.

If you really want to, you can change the asset value (Enter Coins -> Edit -> Edit Asset Value).
And then overwrite the MCO value (which should be approx. 138 USD, with 200 USD) and ignore the warning.
Not sure, if this is what you're looking for, but it could work.

However, I would stay with the regular calculation without manipulating the asset values.
Best, Dario

CoinTracking.info - Your Profit / Loss Portfolio Monitor and Tax Calculator for all Digital Currencies
Simply the best way to track your digital assets accurately.
Get live data for more than 4800 coins, assets and commodities. Track Gains & Balances from all your exchanges and wallets.
Dario3000
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September 30, 2017, 07:36:35 PM
 #677

@seeARMS:
CEX.io API import is live, but unfortunately they do not list deposits and withdrawals on their end.

CoinTracking.info - Your Profit / Loss Portfolio Monitor and Tax Calculator for all Digital Currencies
Simply the best way to track your digital assets accurately.
Get live data for more than 4800 coins, assets and commodities. Track Gains & Balances from all your exchanges and wallets.
Radioreid
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October 01, 2017, 03:51:50 PM
 #678

I may be in a bit over my head...

I really want this software to work for me but I am having a hard time getting the numbers imputed properly.

What I have learned so far is that just importing the api into CT from coinbase, exchanges and my exodus wallet do not correctly show the real #'s. The thought of having to go through and manually input everything makes my head hurt.

Are there some steps I can take to make this whole process easier?
smartinuf
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October 01, 2017, 07:49:05 PM
 #679

Hi, a couple of questions:

Any chance you may add price alert functions at some point?

I can't seem to find iPhone app on app store, status?

Thanks, Stephen
Dario3000
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October 01, 2017, 09:38:05 PM
 #680

Hi, a couple of questions:

Any chance you may add price alert functions at some point?

I can't seem to find iPhone app on app store, status?

Thanks, Stephen
Hey, the iOS app is available since a few weeks.
You can find it here: CoinTracking App

Price alerts will be included in the next update for Android and iOS.
ETA: 2-3 weeks.


@Radioreid: It's hard to tell, without knowing any details.
Can you please submit a support ticket at CoinTracking and we will guide you Smiley

Coinbase is always a bit complicated because of their data structure, but other exchanges and exodus should be no problem.

Best,
Dario

CoinTracking.info - Your Profit / Loss Portfolio Monitor and Tax Calculator for all Digital Currencies
Simply the best way to track your digital assets accurately.
Get live data for more than 4800 coins, assets and commodities. Track Gains & Balances from all your exchanges and wallets.
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