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Author Topic: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies  (Read 88530 times)
Dario3000
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October 13, 2017, 01:46:00 AM
 #701

@ebliever:
Let me check on these BT1 and BT2 futures on Bitfinex.
I have not seen them before.
You can also add them and set a custom price.

@TreasureSeeker:
An average gain method calculation is already in progress and will be released soon.

@Robustor:
Really? I can not see any issues.

@jaimeow:
Sorry, but the Coinbase API data is the worst.
That's why it's just a beta import.
They have some strange limits which could be the reason for missing tx.
I would recommend to add these missing tx manually or using the CSV import.

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 5000 coins, assets and commodities. Track Gains & Balances from all your exchanges and wallets.
Need help? CoinTracking FAQ
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October 13, 2017, 01:25:28 PM
 #702

@TreasureSeeker:
An average gain method calculation is already in progress and will be released soon.

Came here to ask for this. In Sweden we use Average Cost.. fingers crossed it'll be ready by the end of this year! Great service and site in every other way. Just bought an Unlimited membership.
Dario3000
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October 14, 2017, 12:07:26 AM
 #703

@TreasureSeeker:
An average gain method calculation is already in progress and will be released soon.

Came here to ask for this. In Sweden we use Average Cost.. fingers crossed it'll be ready by the end of this year! Great service and site in every other way. Just bought an Unlimited membership.

Yes it will definitely be ready in November this year 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 5000 coins, assets and commodities. Track Gains & Balances from all your exchanges and wallets.
Need help? CoinTracking FAQ
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October 14, 2017, 02:50:34 AM
 #704

@ebliever:
Let me check on these BT1 and BT2 futures on Bitfinex.
I have not seen them before.
You can also add them and set a custom price.

@TreasureSeeker:
An average gain method calculation is already in progress and will be released soon.

@Robustor:
Really? I can not see any issues.

@jaimeow:
Sorry, but the Coinbase API data is the worst.
That's why it's just a beta import.
They have some strange limits which could be the reason for missing tx.
I would recommend to add these missing tx manually or using the CSV import.

Dario



Hey Dario~ thanks for the quick response. OK good to know, will import csv for Coinbase.  Why do you omit deposits and withdrawals in your instructions? (says to do buys, sells, merchant payouts)

as i'm looking through all of the exchange api's/csv, looks like i will have to import many via csv or manually enter them... Sad

m33
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October 14, 2017, 07:12:35 AM
 #705

hi , is it possible to group my trades from polo as i have many clients. if i upload the csv from two accounts it get mix up ??

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October 14, 2017, 07:57:17 AM
 #706

Hi, impossible to connect the cointracking website, any reason ?

It's working fine for me.

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October 14, 2017, 04:15:04 PM
 #707

Kindly, could you open a Telegram group? Pleaseeeeeee Grin Grin Grin Grin Grin
Dario3000
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October 15, 2017, 10:26:08 PM
 #708

@jaimeow:
The last time I checked the coinbase deposit and withdrawals CSV file, the format was broken and most of transactions were missing.
But I will check again.

@m33:
Right now it's only possible to assign groups for API imports.
But it's on the to do list and I will add it soon.
You can also create 2 accounts and link them together. Could make even more sense if you are tracking data for 2 accounts.

@Onda_su_onda:
Right now we offer support by support ticket, here, on Facebook and Twitter.
We will add Telegram and Slack in the future, but for now I thing there are enough ways to reach us Wink

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 5000 coins, assets and commodities. Track Gains & Balances from all your exchanges and wallets.
Need help? CoinTracking FAQ
PabloFlexcobar
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October 15, 2017, 11:56:33 PM
 #709

Hello!

I'm looking for suggestions on how to adjust my balance for LINK in Cointracking.info so that it matches my actual balance. I have 78,194 LINK coin, but Cointracking.info is reporting 78,204, a difference of 10: https://i.imgur.com/nmw4XpW.png

Based on the entries in the image below, my best guest is that I was charged a fee of maybe 2 LINK per trade, or 10 LINK to withdraw it from EtherDelta exchange:
https://i.imgur.com/LY6aSpG.png

What entry should I make to subtract the 10 LINK coin?

Thank you,
PF
Dario3000
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October 16, 2017, 12:00:37 AM
 #710

What entry should I make to subtract the 10 LINK coin?
Just create a withdrawal of 10 LINK on the "Enter Coins" page.
That will work.

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 5000 coins, assets and commodities. Track Gains & Balances from all your exchanges and wallets.
Need help? CoinTracking FAQ
m33
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October 16, 2017, 04:11:05 AM
 #711


@m33:
Right now it's only possible to assign groups for API imports.
But it's on the to do list and I will add it soon.
You can also create 2 accounts and link them together. Could make even more sense if you are tracking data for 2 accounts.

Best
Dario

you mean i make two logins for you service?

Bullion (CBX) ◢◤Clients
CRYPTOBULLION.IO
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████████▀
█████▀
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YOUR DIGITAL PRECIOUS METAL 
PoSP | BNP Masternodes | 65 Second block time
Bullion MarketPlace












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Coinbook |













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Dario3000
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October 16, 2017, 04:33:39 PM
 #712

you mean i make two logins for you service?

Correct. You can then join both accounts here: Account -> Settings -> Join multiple accounts

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 5000 coins, assets and commodities. Track Gains & Balances from all your exchanges and wallets.
Need help? CoinTracking FAQ
Onda_su_onda
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October 16, 2017, 09:23:53 PM
 #713


@Onda_su_onda:
Right now we offer support by support ticket, here, on Facebook and Twitter.
We will add Telegram and Slack in the future, but for now I thing there are enough ways to reach us Wink

Best
Dario

Your advice is quick and precise, nothing to say.

But telegram group, not channel, would offer us the ability to help between us and confront us. And with our "invite" to users of other rooms, make new customers.

Do I say well, CoinTracking users&fans? Ready to collaborate?

(example: I still have the problem with Livecoin, and now with Liqui, will I be the only one?)
(example: I import your CSV in excel. I would be glad to be able to discern with others)

Thanks for your kind attention
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October 17, 2017, 07:28:30 AM
 #714

Dario - I just want to say, thank you. The kind of work you're putting in is really valued by us. I'm in the US, and I'm looking to start trading crypto. However, I do have some questions:

---
1) I interpret from our IRS tax code that crypto-to-crypto exchanges when TRADING (not simply investing) triggers a taxable event, similar to how stock trading is treated in the US. Ergo, crypto-to-crypto exchanges do not qualify as a 1031 like-kind exchange (which wouldn't be taxed). Is CoinTracking able to account for these individual taxable events when I make trades from crypto-to-crypto? Day/swing traders will inevitably trigger hundreds of taxable events through the year, and I just want to know if this is something that CoinTracking actually tracks where I'd be able to bring the CoinTracking tax report to my tax preparer to lessen a lot of confusion come tax season.
*I understand that the IRS doesn't specifically state that cryptocurrencies are exempt from using the 1031 like-kind exchange ruling to avoid taxable situations, but it seems that since the IRS now recognizes crypto as property, it's VERY likely that crypto should be treated the same way*

2) If I plan on using an exchange that isn't supported by CoinTracking to change crypto-to-crypto, am I able to manually enter the transaction on CoinTracking, inclusive of fees that I paid? Specifically, I'm looking at using Shapeshift.io to obtain certain currencies.

3) I notice that Exodus is listed under "wallets" on the CoinTracking homepage. Am I able to import transactions that I've done on their exchange as well? Or would I simply be importing my wallet balances into CoinTracking?

4) Is accidentally duplicating transactions on CoinTracking a problem? Or is importing data from exchanges more like a sync where transactions aren't duplicated? How would I go about avoiding duplicating transactions in CoinTracking when importing my information?
---

Sorry if some of these questions are very simple. Obviously, I haven't started using your program yet, but these questions will definitely help me decide if CoinTracking is right for me. Thank you so much, again!
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October 17, 2017, 11:04:37 AM
 #715

Just want to say, Excellent app! Likely the best one I have used yet.

Got a couple of questions though:

How do i completely remove coins from my list? I have some I have sold off and are not interested in anymore, I don't want them in my list.

Also, is there a way for me to set alarms through the app?


-Thanks in advance
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October 17, 2017, 12:39:09 PM
 #716

Is it possible to only show a percentage of funds imported? This would really help if I have one large fund in an online account, representing equal shares of multiple clients. Example: 20 clients put in 10k into one Poloniex account, but I only wish to show the statistics of one client account.

Many thanks for your help, much appreciated.
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October 17, 2017, 09:43:28 PM
 #717

Great work and very good web and android app... but, one question... how can I know which exchange are you using to calculate rates?





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Dario3000
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October 18, 2017, 02:42:49 PM
 #718

@Onda_su_onda:
I've put the Telegram group on the to do list and will start it soon.
The API of Livecoin is broken sometimes. They are working on it.
But Liqui should be fine.


@LoopyBullet:
Thanks a lot. I really appreciate it.

1) The tax calculation is exactly as you said.
We do not have a like-kind calculation at this moment (because I don't think it is supported in any country right now), but we will add it until the end of this year.

2) Sure Smiley You can of course add trades manually.
Just sign up and have a look at the tool and the descriptions. I think, this will answer a lot of questions.

3) Right. The Exodus import can only import deposits and withdrawals. I will put that on the to do list and will try to add tx asap.

4) We have a duplicate detection for all API and CSV imports.
But this is only working for API and CSV imports. There is no duplicate detection for manually entries.


@Skrodk:
You can just add a withdrawal with the amount which is left of your coin.
This will set the amount to 0.
And the "Hide 0 balances" filter will remove them from your reports.

Yes, an alert feature for Android and iOS is already in progress and will be released in 2 weeks.


@Jack_ofalltrades:
You can set a "Trade Group" for your transactions. This way you will be able to see the distribution on the "Balance by Exchange" page, once you have set the "Group by Trade-Group" option.
You can also create multiple accounts and link them together to track the portfolio for each client.


@vingaard:
We are using weighted average prices for FIAT and coins (like on BitcoinAverage or CoinMarketCap).

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 5000 coins, assets and commodities. Track Gains & Balances from all your exchanges and wallets.
Need help? CoinTracking FAQ
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October 19, 2017, 05:45:19 AM
 #719

Hi there. Great app. Have just paid for Pro and am trying out the API interface. Quick question about adding wallets:

I don't see NEO on the list of coins for wallet imports. It seems odd for such a high profile coin. Am I missing something? If not, does that mean I have to manually enter coins and just use a wallet name instead of an exchange name?

Thanks (searched and couldn't find an answer to this).
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October 21, 2017, 04:40:27 PM
 #720


1) I interpret from our IRS tax code that crypto-to-crypto exchanges when TRADING (not simply investing) triggers a taxable event, similar to how stock trading is treated in the US. Ergo, crypto-to-crypto exchanges do not qualify as a 1031 like-kind exchange (which wouldn't be taxed). Is CoinTracking able to account for these individual taxable events when I make trades from crypto-to-crypto? Day/swing traders will inevitably trigger hundreds of taxable events through the year, and I just want to know if this is something that CoinTracking actually tracks where I'd be able to bring the CoinTracking tax report to my tax preparer to lessen a lot of confusion come tax season.

I've been looking into like-kind exchanges because it would save me taxes on the BTC I moved into ALTs this year. So far it looks like like-kind exchanges will not be allowed. AFAIK Bitcoin is currently treated as an asset, like gold, for tax purposes so trading Bitcoin for ETH would be like trading Gold for Silver and that does not fall under a 1031 exchange:

Edit: Won't let me link the page. Google "IRS Revenue Ruling 82-166"
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