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

[Balkos]

Is anyone else having issues with GDAX and Coinbase API now that GDAX has switched to Coinbase Pro?

This is the scenario. 

I deposit 1 ETH into Coinbase.  This shows as a deposit
I transfer that 1 ETH into GDAX.  This shows as a deposit into GDAX.  And a second deposit is created in Coinbase.  leaving me with a balance of double what it should be.

Previously it would show as a withdrawal from Coinbase and a deposit to GDAX. making my balances correct.

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[KWT]

I have been working with Cointracking for 4 months and still haven't been able to get an accurate representation of my holdings. It seems most balances are correct but BTC is either too high or too low. I've spent hours (days) trying to figure out exactly why this is happening with no luck. If someone has any insight or suggestions on what is causing this it or what to look at, it would be greatly appreciated if you shared your thoughts.

[svk31]

I have been working with Cointracking for 4 months and still haven't been able to get an accurate representation of my holdings. It seems most balances are correct but BTC is either too high or too low. I've spent hours (days) trying to figure out exactly why this is happening with no luck. If someone has any insight or suggestions on what is causing this it or what to look at, it would be greatly appreciated if you shared your thoughts.

Double-checking balances by exchange helped me figure out my discrepancies.

[KWT]

I have been working with Cointracking for 4 months and still haven't been able to get an accurate representation of my holdings. It seems most balances are correct but BTC is either too high or too low. I've spent hours (days) trying to figure out exactly why this is happening with no luck. If someone has any insight or suggestions on what is causing this it or what to look at, it would be greatly appreciated if you shared your thoughts.

Double-checking balances by exchange helped me figure out my discrepancies.

I'm able to identify the discrepancies I just need to understand why they're not correct and how to correct them.

[CoinTracking Dominik]

Hi KWT.

This is a very general question and can only be answered in general: https://cointracking.freshdesk.com/en/support/solutions/articles/29000018817-read-first-general-account-imbalances

You are welcome to contact us via our HelpDesk so that we can take a closer look at your problem.

[WickedPigeon]

Hey CoinTracking Dominik

I have a suggestion for the Dashboard.
Bitcoin has a 30 day history chart with the current price. I like this, but would like to be able to change the time frame, like - YTD, last week, past year, and custom time period.

And if you could match the same time frame with Balance by Day in the dashboard, that would help and align the data in a more useful way.

[vingaard]

it would be great if you  could put, for each coin in portfolio, which markets are trade with it and what is the current rate

Thanks

[CoinTracking Dominik]

Hey CoinTracking Dominik

I have a suggestion for the Dashboard.
Bitcoin has a 30 day history chart with the current price. I like this, but would like to be able to change the time frame, like - YTD, last week, past year, and custom time period.

And if you could match the same time frame with Balance by Day in the dashboard, that would help and align the data in a more useful way.

Thank you for your suggestion!

it would be great if you  could put, for each coin in portfolio, which markets are trade with it and what is the current rate

Thanks

Thank you for your suggestion! Currently, we do not obtain prices directly from the exchanges and use average prices.
An overview of the coins and exchanges can be found on the "Balance by Exchange" page. But I understand your suggestion and I will take it up like this.

[vingaard]

Hey CoinTracking Dominik

I have a suggestion for the Dashboard.
Bitcoin has a 30 day history chart with the current price. I like this, but would like to be able to change the time frame, like - YTD, last week, past year, and custom time period.

And if you could match the same time frame with Balance by Day in the dashboard, that would help and align the data in a more useful way.

Thank you for your suggestion!

it would be great if you  could put, for each coin in portfolio, which markets are trade with it and what is the current rate

Thanks

Thank you for your suggestion! Currently, we do not obtain prices directly from the exchanges and use average prices.
An overview of the coins and exchanges can be found on the "Balance by Exchange" page. But I understand your suggestion and I will take it up like this.

Thanks for your answer, but the problem is, there are coins that I don't know where you get the rates... like BXC (now rebranding as CTL)... you say in cointracking that the exchange rate is 0.00002586 BTC and there are only two exchanges trading this coin at the moment (as I know) and no one has that exchange rate...

Thanks again 

[CoinTracking Dominik]

When are you going to have the VET price sorted out? For the first few days it was at the old VEN prices. Now it doesnt seem to have a price at all. It's being traded on major exchanges, including Binance.

https://www.binance.com/en/trade/VET_BTC

Not sure what the difficulty is here in acquiring a value for this coin.

We have deleted the historical prices because it has led to incorrect data.
Our Coins and Assets are sourced from: coinmarketcap.com, worldcoinindex.com and cryptocoincharts.info. Once VET is listed on these sources, the correct price is also in CoinTracking.

[vingaard]

When are you going to have the VET price sorted out? For the first few days it was at the old VEN prices. Now it doesnt seem to have a price at all. It's being traded on major exchanges, including Binance.

https://www.binance.com/en/trade/VET_BTC

Not sure what the difficulty is here in acquiring a value for this coin.

We have deleted the historical prices because it has led to incorrect data.
Our Coins and Assets are sourced from: coinmarketcap.com, worldcoinindex.com and cryptocoincharts.info. Once VET is listed on these sources, the correct price is also in CoinTracking.

Thanks again 

[krebbin]

My accountant has requested a trade report for tax purposes in the following format:

•   In terms of your cryptocurrency holdings, the records required should be in the same format as those for conventional investments such as stocks and shares. Each investment (cryptocurrency) has its own ledger (spreadsheet), at the top of which is shown the nature of the asset. Then, by columns:
o   the date of the transaction;
o   the nature of the transaction – buy or sell;
o   the number of units of the cryptocurrency;
o   the value of the transaction in sterling; and
o   A running total of the investment units – the cryptocurrency value.

All done as LIFO.

Can you point me to the most appropriate report to do this please?

Cheers, col.

[mpfx]

SPD Ticker change

I had trades/positions for Stipend (SPD) but those trades/positions all recently changed to Spindle, which also has the ticker SPD.

Why did this change and how do I change it back to Stipend?

[CoinTracking Dominik]

SPD Ticker change

I had trades/positions for Stipend (SPD) but those trades/positions all recently changed to Spindle, which also has the ticker SPD.

Why did this change and how do I change it back to Stipend?

Please forgive the inconvenience.
As Spindle has a higher trading volume, it "won" the SPD ticker.

Pease rename SPD to SPD2. This can be done using the 'Bulk Edit/Delete' button on the 'Enter Coins' page or by changing them in the trade table on the same page.
Using the bulk function, select 'Overwrite Coins' from the dropdown menu and replace your old coin ticker with the new one.

We will develop an automatic solution for this, so that the user does not have to do it himself.

[dust_bowl]

Hi,

have done some work for my tax declaration. And fees for buying/selling and withdrawel are not calculated. See the video below for an example (ACT fees)

https://streamable.com/ug28k

Or it that the way it should be?

best regards

dust_bowl

[BieneMaja]

When i import my trades from Kraken all the deposits and withdraws are counted 2x.
There are 2 lines for each in the CSV, i guess one is the beginning of the operation and the other the finish, but they obviously shouldn't be counted as 2.
I also don't see what i could have done wrong - i just import the ledger.csv as explained on the site.

[WickedPigeon]

My accountant has requested a trade report for tax purposes in the following format:

•   In terms of your cryptocurrency holdings, the records required should be in the same format as those for conventional investments such as stocks and shares. Each investment (cryptocurrency) has its own ledger (spreadsheet), at the top of which is shown the nature of the asset. Then, by columns:
o   the date of the transaction;
o   the nature of the transaction – buy or sell;
o   the number of units of the cryptocurrency;
o   the value of the transaction in sterling; and
o   A running total of the investment units – the cryptocurrency value.

All done as LIFO.

Can you point me to the most appropriate report to do this please?

Cheers, col.

Have you tried the Tax Report tab? It's all right there in the report setup.

[mpfx]

SPD Ticker change

I had trades/positions for Stipend (SPD) but those trades/positions all recently changed to Spindle, which also has the ticker SPD.

Why did this change and how do I change it back to Stipend?

Please forgive the inconvenience.
As Spindle has a higher trading volume, it "won" the SPD ticker.

Pease rename SPD to SPD2. This can be done using the 'Bulk Edit/Delete' button on the 'Enter Coins' page or by changing them in the trade table on the same page.
Using the bulk function, select 'Overwrite Coins' from the dropdown menu and replace your old coin ticker with the new one.

We will develop an automatic solution for this, so that the user does not have to do it himself.

That worked. Thanks!

[devbanana]

Does it support segwit bitcoin addresses for importing wallets? The last tool I tried didn't support addresses beginning with bc1, so I want to make sure before upgrading to the pro version.

[pescadorloco69]

How should we account for Ven to Vet exchange.

I do not want a tax event for the exchange so confused how I account for this.

Thanks in advance for any advice.