Bitcoin Forum
July 21, 2018, 02:11:33 AM *
News: Latest stable version of Bitcoin Core: 0.16.1  [Torrent]. (New!)
 
   Home   Help Search Donate Login Register  
Pages: « 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 [42] 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 »
  Print  
Author Topic: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies  (Read 88896 times)
MarketAnarchist
Newbie
*
Offline Offline

Activity: 13
Merit: 0


View Profile
December 11, 2017, 06:29:22 PM
 #821

I'm having pretty much the same problem. I'm assuming with the cost basis of $0, it is wildly inflating my tax liabilities. Would love to fix this ASAP.

Hi,
New to CoinTracking and seeing how it works.
I purchase and transfer BTC from one exchange (withdrawal) to another (deposit) and the "Cost Basis" ends up ZERO on the target exchange.

Example
- Inject $1000 USD with a deposit from my Chase Bank into Abra
- Trade $1000 USD into BTC in Abra (no fee)
- Withdraw all this BTC from Abra (fee)
- ... and deposit BTC into Bittrex
- Use 20% of this BTC in Bittrex to trade for another coin (e.g. SALT)

When I look at the Tax Report, it shows Capital Gains with zero cost basis - I assume for the Bittrex transaction when I sell the transferred BTC to purchase SALT.

1) What do I need to do in CoinTracking to correct the Cost Basis tax report?

2) How does CoinTracking handle multiple BTC purchases - where the basis is different for different amounts? I assume this would use FIFO, but is there anything I need to do to make that work?

Thanks!
Bob Bogardus


185Nw1tExuRJ2AgZxksAf6z9PKSThirui8
1532139093
Hero Member
*
Offline Offline

Posts: 1532139093

View Profile Personal Message (Offline)

Ignore
1532139093
Reply with quote  #2

1532139093
Report to moderator
1532139093
Hero Member
*
Offline Offline

Posts: 1532139093

View Profile Personal Message (Offline)

Ignore
1532139093
Reply with quote  #2

1532139093
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1532139093
Hero Member
*
Offline Offline

Posts: 1532139093

View Profile Personal Message (Offline)

Ignore
1532139093
Reply with quote  #2

1532139093
Report to moderator
1532139093
Hero Member
*
Offline Offline

Posts: 1532139093

View Profile Personal Message (Offline)

Ignore
1532139093
Reply with quote  #2

1532139093
Report to moderator
1532139093
Hero Member
*
Offline Offline

Posts: 1532139093

View Profile Personal Message (Offline)

Ignore
1532139093
Reply with quote  #2

1532139093
Report to moderator
smartinuf
Newbie
*
Offline Offline

Activity: 10
Merit: 0


View Profile
December 11, 2017, 11:04:45 PM
 #822

Ive been blocked out of my account, when trying to log in I received the following message: 

"You have been BLOCKED because of evil or suspicious bot behavior.
If you are a human, please let us know and we will unlock you immediately."

Well, here I am doing that, please unblock me.

I think this may have occurred while I was using the iPhone app, does this happen sometimes or do I need to be worried about someone attempting hack?

Galletera
Newbie
*
Offline Offline

Activity: 20
Merit: 0


View Profile
December 13, 2017, 01:19:23 AM
 #823

Hello, guys. Struggling with the Binance API.

I'll go in and manually click "Check Now" and then after it says "Checking for new trades" - and I click "Back to your jobs." Nothing happens.
New trades don't come in even though I've made them (and I give it a solid 30 seconds to load before clicking Back to jobs).

Doesn't happen with Bittrex, but with Binance it happens about 20-30% of the time...then I have to wait another hour to be able to check again.

Another question, besides the number of trades allowed, what's the biggest benefit of upgrading from a PRO account to an Unlimited?

Thanks.
smartinuf
Newbie
*
Offline Offline

Activity: 10
Merit: 0


View Profile
December 13, 2017, 02:10:38 AM
 #824

This is ridiculous! I've been blocked from my account and no response?

I did receive one response from Cointracking facebook page messenger telling me to open a support ticket which of course I cannot do because I cannot access the site. I replied telling them that but have heard nothing in since.

I need access to my info as I'm the process of working on taxes which is why I bought this program to begin with. What a time for this to happen and for Cointracking team to go AWOL here!

I'm all about security measures but when it goes wonky and I can't access my own data there has to be support measures in place. What other recourse do I have other than to complain here?

Im beginning to worry that my data has been compromised. I can't see it but who can?

PLEASE RESPOND
gvtrider
Newbie
*
Offline Offline

Activity: 2
Merit: 0


View Profile
December 13, 2017, 03:33:13 AM
 #825

I tried CoinTracking for the first time today and was able to successfully upload my trades in csv format. However, the csv's with the deposits and withdrawals of Poloniex and Bitfinex are not accepted and give me error messages. I downloaded the csv's from the exchanges today.

Any indication when this can be fixed? Thanks.

Duckly
Newbie
*
Offline Offline

Activity: 1
Merit: 0


View Profile
December 13, 2017, 11:30:30 AM
 #826

Hi All,

Been using Cointracking for a couple of months now and its great. I've always had issues importing trades from BTC Markets though. I understand the CSV won't import Withdrawals and Deposits but even after inputing them manually the balance is not even close to correct.

It's acting as if everything is being doubled.

Anyone got similar issues?
M5M400
Full Member
***
Offline Offline

Activity: 160
Merit: 100

supportXMR.com


View Profile WWW
December 13, 2017, 01:45:12 PM
 #827

Just ran into the limits of the free account. Really liking the site, so I was totally in for buying a license. But paying 0.3BTC for a lifetime license is ridiculous... that's 5300$ lol

supportXMR.com :: EU(DE) based Monero pool :: 0.6% fee
caz777
Newbie
*
Offline Offline

Activity: 6
Merit: 0


View Profile
December 13, 2017, 04:46:51 PM
 #828

Seems there is a problem in the tracker...

the prices received are wrong currently...

I checked just before 5pm, and saw one result of my coins.

Then I checked 20 min later and the ALTCOIN/BTC rates were much lower (as in all had fallen a lot).

When checking against bittrex prices I can see that for instance I have:

NXT 0.0000429 (bittrex), but only 0.0000391 in the CoinTracking.
MANA 0.00000660 (bittrex), but only 0.00000542 in the CoinTracking.

Looking at the coin charts also show significant (unnatural?) dips at the 1700 data for today....
vid200
Newbie
*
Offline Offline

Activity: 4
Merit: 0


View Profile
December 13, 2017, 06:11:54 PM
 #829

Same here,
prices are 20% off and more to negative.

I hace checked sources based on faq, but those prices were ok.
I have written to support, let's see.why this occured.

I come from Forex trading. I learned the hard way
caz777
Newbie
*
Offline Offline

Activity: 6
Merit: 0


View Profile
December 13, 2017, 11:37:22 PM
 #830

Seems to be corrected now. Looked like my Bittrex coins were not updating, but my Binance was.
crypto8492
Newbie
*
Offline Offline

Activity: 2
Merit: 0


View Profile
December 14, 2017, 05:05:01 PM
 #831


I'm so confused on how to report on U.S. taxes getting Bitcoin Gold due to hard fork.  I plan on holding the coin for long term (not selling for a few years). 

Do I still need to enter receiving of the token for 2017?  If so, how?

bobby35ny
Member
**
Offline Offline

Activity: 96
Merit: 10


View Profile
December 15, 2017, 01:56:47 AM
 #832

Hello, guys. Struggling with the Binance API.

I'll go in and manually click "Check Now" and then after it says "Checking for new trades" - and I click "Back to your jobs." Nothing happens.
New trades don't come in even though I've made them (and I give it a solid 30 seconds to load before clicking Back to jobs).

Doesn't happen with Bittrex, but with Binance it happens about 20-30% of the time...then I have to wait another hour to be able to check again.

Another question, besides the number of trades allowed, what's the biggest benefit of upgrading from a PRO account to an Unlimited?

Thanks.


I am having the same problem with Binance!!!

-Bobby
discursively
Newbie
*
Offline Offline

Activity: 1
Merit: 0


View Profile
December 15, 2017, 06:38:43 PM
 #833

Thanks for making this awesome website!

I'm having one problem: Stellar prices are reported inaccurately. For example, right now, cointracking.info has Stellar at 0.14499171 USD while Poloniex has it at 0.1878. I can't find anywhere that Stellar is trading at the level reported in cointracking.info, so I'm not sure what's going wrong! Thank you for any help!
markdavisxxx
Newbie
*
Offline Offline

Activity: 1
Merit: 0


View Profile
December 15, 2017, 11:59:08 PM
 #834

Hello, I was wondering what Trade Type (i.e. 1st column) should be used for the CSV Bulk Import when trying to transfer a currency from one place to another?  On the release notes on 7/10/2017, it mentions that there are codes "(IN) Withdrawals (Transfer)" and "(OUT) Deposits (Transfer)", but I couldn't find any variations of these that didn't throw errors ("Error: We couldn't find a buy or a sell value. This trade will not be imported.").

Thanks,
Mark
Galletera
Newbie
*
Offline Offline

Activity: 20
Merit: 0


View Profile
December 16, 2017, 06:59:13 AM
 #835

Been about 72 hours since their last post here...was getting worried but looks like they've come back on Twitter at least.
mcfly66
Newbie
*
Offline Offline

Activity: 2
Merit: 0


View Profile
December 17, 2017, 12:58:16 AM
 #836

Hi guys did anyone from Cointracking manage to confirm this? This is super important for non US residents to try and get the right Balance and Account Value.

Thanks


My main currency in Cointracking is USD. However, I make both EUR and USD deposits (from a US and a German bank account) in my Kraken account and then I buy BTC (and others) with these deposited funds. For those BTC trades I make from my EUR deposits, the tax form generator spits out an error message and states that no cost basis is present and calculates a 100% gain in USD with a USD 0.00 cost basis. I can not pinpoint where the problem lies as the EUR deposit and trades appear to be correctly imported.

If I'm not mistaken, if your home currency is set to USD then CoinTracking treats euros and all other currencies similar to other investments. Therefore it wants to know when and for how many dollars you bought those euros.

In short, it isn't enough to just transfer euros to an exchange, you have to buy them first and let CoinTracking know that.

If you bought the euros on the same day or if the exchange swapped dollars for euros, you could perhaps, instead of entering them as a "General Deposit (Transfer)"/"Allgemeine Einzahlung (Transfer)", simply declare the euros as "Income"/"Einnahme" to CoinTracking. I believe that CoinTracking then assumes that you bought the euros at that moment for the going euro exchange rate and even inserts that exchange rate automatically.

CoinTracking not only tracks cryptocoin gains and losses, it also tracks currency gains and losses and includes them in your tax calculations.

Note that you have to set your home currency to the one you are taxed in. For example, if you are a German resident then you have to set your home currency to EUR, and all I have written above has to be reversed between EUR and USD.

I don't work for CoinTracking and may be wrong. Don't rely on my hint alone.
Surfing_Pirate
Newbie
*
Offline Offline

Activity: 4
Merit: 0


View Profile
December 17, 2017, 04:32:32 PM
 #837

First time user here. I imported the history of my GDAX and Gemini trades but it's not reflecting an accurate value of my BTC from GDAX. I have nearly 0.5 BTC balance in GDAX but my balance in CT is $4k in BTC, which is missing something.

Do I need to import the GDAX wallet?
danilakripta
Newbie
*
Offline Offline

Activity: 1
Merit: 0


View Profile
December 17, 2017, 09:20:30 PM
 #838

PLease add ADA
rasman
Newbie
*
Offline Offline

Activity: 1
Merit: 0


View Profile
December 17, 2017, 09:26:44 PM
 #839

Please let us know when you guys will include adjusted cost basis reporting used in Canada into your tax formula.  Really need it for reporting 2017 trades!!!  Thanks!
alex_cheese
Newbie
*
Offline Offline

Activity: 1
Merit: 0


View Profile
December 18, 2017, 04:42:47 AM
 #840


Hi.

You're app is great and I went for the Pro version recently. Unfortunately I'm still having to manually add my deposits and withdrawals from LocalBitcoins (as I'm sure you know). However, I noticed that LocalBitcoins allows you to export your transaction history (not just trade history) as a csv. It can be found by on LocalBitcoins.com -> wallet -> transactions -> specific month/year

e.g. https://localbitcoins.com/accounts/wallet_transactions_monthly/2017/10/

Given that you can export this transaction history, is an automated import to CoinTracker possible? It would make my experience much more positive.

Cheers
Pages: « 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 [42] 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 »
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!