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

[afterfiat]

Is there a way to specify any end date (for example which year to end on) for a view like https://cointracking.info/balance_by_exchange.php?

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[PostalEFM]

Hi,

I upgraded to a unlimited account but I have a couple of issues.

You do not have the ability to add NEO as a wallet but you do import NEO trades. This results in your application picking up the NEO/BTC Trade and the NEO wihdrawal but does not see that the NEO is still in the system. My Dashboard shows 0 Neo instead of my balance.

I did manually delete the NEO withdrawal from the trading table, but the API job that I have running to the exchange always re-adds the Withdrawal when the API job runs.

Is there another way around this?

Or can you please add NEO to your Wallet Importer (even the Altcoins section would be fine)?

It is the #9 crypto out there.... https://coinmarketcap.com/currencies/neo/

Regards,

PS, I found this in a previous comment from last year..... can you get this done please?

.......
.......

Also, ANS rebranded to NEO and it doesn't get updated anymore....You should Merge ANS with NEO

Thanks ,
Victor

[kwest1]

I pay my taxes in SEK, but I trade using USD. How should I handle that in my account? The tax report differs enormously between choosing SEK or USD as my account currency.

Also, when will Average Cost be available for tax reports?

Bitcoin.tax is so much easier to use with SEK, and I ended up using it for the 2017 tax report. But Cointracking has so many more features that I WANT to use CT instead.. but all of these issues are preventing me from doing so.

[cruxio]

I'm been using CoinTracking for about a week so far and do a moderate amount of trading (~150 trades in Dec).  I've found this tool to be extremely useful, especially as I am dreading filling my taxes for 2017.  I see a number of people have or are considering upgrading their accounts to the unlimited or pro.  I highly recommend it, but it does cost a shiny satoshi.  Don't be like me and pay full price! <Edit>...Oops...I guess I can't post a affiliate link.  FYI, if you can find one you'll save 10 %.

[Daled12]

Im having an issue with the tax report for 2017.  I notice when I make significant changes to trades in 2017, that should change my net profit, after I run the report after having made changes, there is no change in the net profit.  Is there an issue here?  Or does the tax report get stuck in time and need to be reset somehow?

[lcga]

Hi, first of all, really good app, I tested many and this is by far the best one. I would say that the layout should be brought to this century though :p

I'm having two issues

For the coin Ethos (BQX) I'm getting wrong current value.
It shows 0.00014112 when in coin market cap is valued at 0.00028676, because of that I get a 50% loss.

Second issue is that for IOSToken (IOST) coin is imported correctly but the app will not show it, when I go to feedback page on the summary I have this information
Others:
1.00 IOS     =     0.00 $

Thanks and keep the good work!

[CoinTracking Dominik]

Would you please let me know if I am correct for 1) and 2) ?

Thanks CoinTracking Dominik!

@happy9z:
1) Is the fee already included in the transfer amount?
2) If Binance displays the fee currency ICX, please enter it as well. You can also use the Binance CSV import. Then you don't have to worry about it.

Is there a way to specify any end date (for example which year to end on) for a view like https://cointracking.info/balance_by_exchange.php?

@afterfiat: Have you tried the filter on the site? This allows you to define a start and end date.

Hi,

I upgraded to a unlimited account but I have a couple of issues.

You do not have the ability to add NEO as a wallet but you do import NEO trades. This results in your application picking up the NEO/BTC Trade and the NEO wihdrawal but does not see that the NEO is still in the system. My Dashboard shows 0 Neo instead of my balance.

I did manually delete the NEO withdrawal from the trading table, but the API job that I have running to the exchange always re-adds the Withdrawal when the API job runs.

Is there another way around this?

Or can you please add NEO to your Wallet Importer (even the Altcoins section would be fine)?

@PostalEFM: We are using the best available Multi-Blockchain-API to import coins on the Altcoin Wallet Import page.
New coins are added on a weekly basis, but please note that we do not have any influence over the listed coins and we can not add specific coins on request into the Altcoin Wallet Import.

If you do not want the trades to be re-imported, you must leave them in the system, but set the values to 0.

[CoinTracking Dominik]

Also, when will Average Cost be available for tax reports?

@kwest1: We are in the process of implementing this. The feature will be implemented in about 3-4 weeks.

Im having an issue with the tax report for 2017.  I notice when I make significant changes to trades in 2017, that should change my net profit, after I run the report after having made changes, there is no change in the net profit.  Is there an issue here?  Or does the tax report get stuck in time and need to be reset somehow?

@Daled12: Please create a ticket via our HelpDesk by entering your username and describing the problem again. We'll take a look at it then.

For the coin Ethos (BQX) I'm getting wrong current value.
It shows 0.00014112 when in coin market cap is valued at 0.00028676, because of that I get a 50% loss.

Second issue is that for IOSToken (IOST) coin is imported correctly but the app will not show it, when I go to feedback page on the summary I have this information
Others:
1.00 IOS     =     0.00 $

@lcga: You need to rename your BQX to ETHOS to get the correct price source.
Is your IOStoken really registered as IOST or IOS?

[lcga]

@lcga: You need to rename your BQX to ETHOS to get the correct price source.
Is your IOStoken really registered as IOST or IOS?

I changed to to ETHOS and is working now. Binance still did not made the change to ETHOS, so next time I will update it manually.

I updated IOS to IOST also and it's working.

Thanks!

[davemanet]

hi all, can anyone help with 2 questions that i hope are easy:

1. i mined coins and it went to my bittrex wallet.  i imported bittrex via api.  how do i label the income as mining?

2. i made a payment to bitmain for mining equipment.  how should i label these?

[Lernerz]

Perhaps the moderator of the thread will not really like what I write.
In my opinion, when you start an account on such a service, then you automatically share information with the owners. They can sell data manipulators or use for price manipulation themselves.

[allanster]

Response to: "Why are BNB fees from trades not being calculated in my BNB balance?  It correctly deducts from the BNB balance for sales of the tokens but ignores it from any calculations as a fee."

I am also having this same problem...is there a solution for this?

https://cointracking.freshdesk.com/en/support/solutions/articles/29000021505-bnb-balance-wrong-due-to-fees-not-being-deducted-

https://cointracking.freshdesk.com/en/support/solutions/articles/29000007202-entering-fees

I too am quite frustrated by this statement...

"In order to correct your third coin balance in the portfolio, you need to create an additional transaction as [OUT] Lost for the fee."

The above statement should be...

"In order to correct your third coin balance in the portfolio, Cointracking will create an additional transaction as [OUT] Lost for the fee."

This "solution" is not at all satisfactory. We as customers should NOT be having to do this (manual adjustments). I do not understand why CoinTracking cannot be updated to account for third currency fees. CoinTracking should be updated to handle this and the logic is quite simple...

if FEE = BNB and BUY != BNB and SELL != BNB then [OUT] BNB

Also, I don't think "Lost" is a good or accurate description for this, these amounts are not "Lost" in the classic sense of the word, "Lost" means "I do not know where they went", but in this case I do know where they went, they went to "Fees".

I think CoinTracking is an excellent service that is vastly superior to all of it's competitors, but I do feel greatly disappointed that this is not being handled the way it should be.

[PostalEFM]

@PostalEFM: We are using the best available Multi-Blockchain-API to import coins on the Altcoin Wallet Import page.
New coins are added on a weekly basis, but please note that we do not have any influence over the listed coins and we can not add specific coins on request into the Altcoin Wallet Import.

If you do not want the trades to be re-imported, you must leave them in the system, but set the values to 0.

Hi,

Can you contact the " best available Multi-Blockchain-API to import " company and notify them that NEO is not a new coin.

Or please provide contact details for " best available Multi-Blockchain-API to import ", and I will contact them myself.

[LeoFirefly]

WAN - WanChain ERC20 tokens appear as negative in the portfolio.

As WAN tokens were credited to the ETH wallets without the transaction appearing in the token transfers and later everyone had to send the WAN's out. Now when i link a ETH wallet which had the ERC20 WAN before, it appears as a Negative amount, distorting the total portfolio value.

Could you find a way to fix this issue. I am sure, everyone who had ERC20 WAN's will have the same issue.

[AltScope]

Any chance you guy's could add average price to your tax report tool its great having fifohifo etc but many countries pool your purchases allowing you to use average price paid as the cost.

I've seen this requested here before but as yet haven't seen a response from cointracking.

[PostalEFM]

Hey, just a thought.

Taxing Crypto is becoming a thing. You probably need more staff.

Especially considering you are using this as a primary support solution.

Get more staff please and get the bugs worked out of your system and you will position yourself as the worlds leading application for the purpose.

[soothaa]

@PostalEFM: We are using the best available Multi-Blockchain-API to import coins on the Altcoin Wallet Import page.
New coins are added on a weekly basis, but please note that we do not have any influence over the listed coins and we can not add specific coins on request into the Altcoin Wallet Import.

If you do not want the trades to be re-imported, you must leave them in the system, but set the values to 0.

Hi,

Can you contact the " best available Multi-Blockchain-API to import " company and notify them that NEO is not a new coin.

Or please provide contact details for " best available Multi-Blockchain-API to import ", and I will contact them myself.

Dude they don't support coins from 2014/2015.. they haven't been updated properly in years.

[Strovu]

Hi,

I just bought a 2 years Pro upgrade for Cointracking.

Look like the best out there to track all those trades with all the coins and exchanges but still need some improvements in the import process it seems.

I just spent 2 days trying to figure out why my balance are not like they should. One thing I suspect is that when importing from the exchange, Cointracking sometimes include the fee in the cost amount (like for Coinbase) and sometimes not (like for Bitstamp).

I could balance Coinbase but now I am trying to balance Bitstamp. On bitstamp my XRP are ok, but my BTC are not (fees for XRP are in USD but fees for BTC are in BTC). I have a 0.05 balance on Bitstamp but Cointracking show me a 0.03958308 BTC balance. So some are missing. I am suspecting problems with the Fees. I just imported the .csv from bitstamp (Export ALL).

Also I saw this on the cointracking doc: https://cointracking.freshdesk.com/en/support/solutions/articles/29000018276-missing-fees-in-the-tax-report
"Missing Fees in the Tax-Report Modified on: Thu, 11 Jan, 2018 at 3:12 PM At the moment, the fee values are not deducted from your gains in the Tax-Report. You can easily find them on the "Trading Fees" page and subtract them yourself from your total gains."

I don't understand that one, since the Fees are supposed to always be included in the cost of each trade (see: "Please note that the purchase and sale values displayed on CoinTracking already include all fees. (https://cointracking.freshdesk.com/en/support/solutions/articles/29000007202-entering-fees)")
So if the fees are included in the purchase price, the gain or lost would automatically take account of those right? If we do like they say and substract all the fee from the total gain result of the tax report we would be substracting them twice no???

[allanster]

I don't understand that one, since the Fees are supposed to always be included in the cost of each trade (see: "Please note that the purchase and sale values displayed on CoinTracking already include all fees. (https://cointracking.freshdesk.com/en/support/solutions/articles/29000007202-entering-fees)")
So if the fees are included in the purchase price, the gain or lost would automatically take account of those right? If we do like they say and substract all the fee from the total gain result of the tax report we would be substracting them twice no???

I also would very much like to know the answer to this question! If a user bought and sold 1 LTC for 99 USDT with 1 USDT fee each trade, which of the two formulas below does CoinTracking do?...

Sell 1 LTC -> Trade | Buy 98 USDT | Sell 1 LTC | Fee 1 USDT <- Placeholder field not included in calculations other than Fees page.

Buy 1 LTC -> Trade | Buy 1 LTC | Sell 100 USDT | Fee 1 USDT <- Placeholder field not included in calculations other than Fees page.

Possible formula A -> Gain

     = ((Sell price - Sell fee) - (Buy price + Buy fee)) / (Buy price + fee)

     = ((99 - 1) - (99 + 1)) / (99 + 1)

     = (98 - 100) / 100 = -2% Gain

Possible formula B -> Gain

     = (Sell price - Buy price) / (Buy price)

     = (99 - 99) / (99) = 0 / 99 = 0% Gain

So which is it... formula A or formula B?

[allanster]

I understand if a user was just doing an occasional buy and hold trade it wouldn't be that big a deal to add the "lost" balance BNB adjustment for EACH trade recording the time of the trade, but many of your users are doing automated trades as well which can easily number in the thousands and it is VERY tedious manually recording these adjustments for EACH trade. This is a BIG problem!