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

[geocurt]

Hi, I was pretty hopeful that your site would provide a solution for me but either I'm missing something or the trade functionality is.  I trade in a lot of altcoins and want to be able to track my cost basis and profits between BTC and these various alts.  I can't see any means to sell altcoins (except for a small list which requires the pro upgrade) for btc - am I missing this somewhere?

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[zigmas]

Very helpful, good threads 

[Dario3000]

Very helpful, good threads 

Thanks a lot!

Hi, I was pretty hopeful that your site would provide a solution for me but either I'm missing something or the trade functionality is.  I trade in a lot of altcoins and want to be able to track my cost basis and profits between BTC and these various alts.  I can't see any means to sell altcoins (except for a small list which requires the pro upgrade) for btc - am I missing this somewhere?

Sorry, I'm not sure if I understand your question
- You can import your trades manually or from different exchanges
- You can display your value and you profit in FIAT or in BTC
- We are on it to include all Altcoins into the trading tool
- For now you can use the Easy Enter function which includes ALL existing Altcoins to track the value of all your Altcoins

If there is anyting else, please let me know,
Best wishes
Dario

[2weiX]

how about, for large files (like mine):

give the option to consolidate all trades to "daily".
so all trades from one date would be consolidated into one BUY and one SELL trade per day.
that would reduce server load greatly, imho.

[febiz]

I love it! Can't wait for the altcoin trading to be included. I have programmed a very simple page to do the same but this is way better, I had to switch

[Dario3000]

Hi,
I want to start over. I deleted all data but the dashboard still shows the previous chart. How do I clear it?

Have you used the "Delete specific or all data" on the "Enter Coins" page?
This will delete all trades in your account.

Best, Dario

[2weiX]

how about, for large files (like mine):

give the option to consolidate all trades to "daily".
so all trades from one date would be consolidated into one BUY and one SELL trade per day.
that would reduce server load greatly, imho.

opinions?

[Dario3000]

how about, for large files (like mine):

give the option to consolidate all trades to "daily".
so all trades from one date would be consolidated into one BUY and one SELL trade per day.
that would reduce server load greatly, imho.

opinions?

You mean for CSV files or already entered trades?

[2weiX]

how about, for large files (like mine):

give the option to consolidate all trades to "daily".
so all trades from one date would be consolidated into one BUY and one SELL trade per day.
that would reduce server load greatly, imho.

opinions?

You mean for CSV files or already entered trades?

it could be decided during import. say the file exceeds X megabyte, then the import function automatically consolidates all trades within one day into ONE BUY and ONE SELL trade.
this is called "netting".

I think your system is too slow to actually perform this function on 10thousands on already entered trades.

[Dario3000]

it could be decided during import. say the file exceeds X megabyte, then the import function automatically consolidates all trades within one day into ONE BUY and ONE SELL trade.
this is called "netting".

I think your system is too slow to actually perform this function on 10thousands on already entered trades.

Ohh... now I see.
I don't like the idea of automatically group all trades by day, because a lot of people like to see every single trade.
Also it's important for the tax to display every single buy and sell.

But I have changed the import function last week for Mt.GOX CSVs. Now the import is running as a background job and don't have a timeout.
I will do this also for the other CSV uploads.

The other way would be to split up your CSV files.
Once all your trades are included, you only need to enter the last trades and not all thounds.

best, Dario

[kevindeangelis]

nice looking site!

[ArslanKhalid]

- Monitoring of your coin value and calculation of your profit / loss
- View your coins in many charts, tables or as text
- Support of Bitcoins and 27 other alt-coins
- Calculation of the purchase value of your coins (for how much you need to sell in order to achieve as much profit)
- Manual entry of your coins
- Importing function for Mt.Gox, Bitstamp, Vircurex, BTC-E, bitcoin.de and more
- Mining and donation functions like automatic monitoring of your coins over the blockchain or APIs
- Multiple accounts to look at coins in different currencies or different exchanges separately
- Compare your purchase and sales prices
- E-mail reports and alerts if your coin value rises or falls
- Display your purchases and sales directly in the history chart to see if you have traded at or below the price
- Market trends and analysis for Bitcoin, and other digital currencies
- Export function in several templates including tax declaration
- and many more...

[Dario3000]

Wow you did a good job! Looks good!

Could you tell me what what a "pro 1 Coin" is?

Thanks!
Ohh, you mean on the Balance page?
Yes, this should be "per 1 Coin" and not "pro". I will fix the wording asap.
It is the average price for 1 coin.
So if you bought 5 BTC for $100 each and 5 BTC for $200 each, you've got 10 BTC with a purchase value of $1500. The price per coin is $150.

Thanks for your note.
Best, Dario

[gibbtek]

Hi,

Just signed up for Pro account!

I did have my trades loaded in from CSV, but after upgrading to pro, clearing my transactions and trying the API import I seem to be having some issues... (I've sent support ticket)

However I do have a feature request...

I would like to be able to enter my transactions in a faster way then through the form.. For example my problem is that I do have old Gox history in my spreadsheet, but some of the data is not correct (some characters have changed) but the important stuff is still there i.e date, values, amount. But I can't upload into your system because there's probably some formatting issues + I don't have both BTC and EUR csv files

But to enter this manually in fields like:

Buy Amount, Sell Amount, Data, Time

.. is going to take me a loooong time. Filling in the form is way too much work.

What I'd like to see is big fat text area where you have defined a format for trade data. So I can make my own CSV data and paste it in here then your system will parse this data and create trades in my account.

So I want to be able to paste something like this (these numbers are just made up)

Code:

"2014/01/01 12:01:01, 0.5, 600, 0.50, BTCUSD, Stamp
2014/01/02 12:01:01, 1, 500, 0.30, BTCEUR, Gox
2014/01/03 12:01:01, 1, 500, 0.50, BTCLTC, Other Exchange,
2014/01/03 12:01:01, 1, 500, 0.40, LTCEUR, Other Exchange"

The headers would be something like "Date, Amount, Price, Fee, Symbol, Exchange "

I hope you know what I mean. I could easily format the data I have in what ever format was defined by the textarea.

This way I can upload my data from any exchange (even dead ones!)

The reason for this is that I don't think I can or will ever be able to get the original Gox exports (we all know what happened) but I want to be able to see these trades in my portfolio and because I already have the data I want some way to get it in faster then typing them in one by one!

I also have account on another exchange but is not listed (for LTC) and again way too much work to add these with a form.

Thanks for your time and for making a nice service for this!

[Dario3000]

Hey gibbtek,
thanks for your message.

So...
your support ticket is done. There was a copy&paste error in the key.

On our Todo list, there is a feature to import trades from an excel sheet or a CSV file.
So exactly what you need.
I hope, I can finish it in the next weeks.

In the meantime:
Our GOX CSV uploader is still working, so if you have your CSV (the BTC file is enough), you can import all your trades.

And we also got a manually multi import function, where you can import up to 100 trades at once.
It's the second link in the Enter Coins dropdown in the navigation and it is also working with altcoins like LTC.

But I will do my best to finish the excel import as soon as possible.
If there is anything else, just let me know.

Best wishes,
Dario

[gibbtek]

Wow amazing service... if this is how most bitcoin services could be run we will be doing very well... thanks for helping me.

I wonder, could someone post an example of correctly formatted Gox export. I have data but I brought it into my main spreadsheet and something has changed preventing me from uploading in to coinreporting.

If I could see an original I can make my data fit this and hopefully I will succeed in uploading.

Thanks again!

[Dario3000]

Wow amazing service... if this is how most bitcoin services could be run we will be doing very well... thanks for helping me.

I wonder, could someone post an example of correctly formatted Gox export. I have data but I brought it into my main spreadsheet and something has changed preventing me from uploading in to coinreporting.

If I could see an original I can make my data fit this and hopefully I will succeed in uploading.

Thanks again!

sure, you can try this one:

Code:

Index,Date,Type,Info,Value,Balance
1,"2013-04-13 08:21:19",out,"BTC sold: [tid:10001] 0.41599999 BTC at $119.97999",0.41599999,0
2,"2013-04-13 08:21:19",out,"BTC sold: [tid:10002] 0.41599999 BTC at $119.97999",0.41599999,0
3,"2013-04-13 08:29:56",in,"BTC bought: [tid:10003] 0.41599999 BTC at $119.97999",0.41599999,0
4,"2013-04-13 08:49:48",out,"BTC sold: [tid:10004] 0.41599999 BTC at $119.97999",0.41599999,0
5,"2013-04-19 17:07:12",out,"BTC sold: [tid:10005] 0.41599999 BTC at $119.97999",0.41599999,0

Index: you can ignore this, because we don't track it
Date: must be in this format: yyyy-mm-dd hh:mm:ss
Type: in = buy | out = sell
Info: must be in this format: BTC bought: [tid:10003] X.XX BTC at $X.XX
   tid must be increasing or at least unique
   X.XX BTC is the BTC value but I think it can be ignored
   $X.XX is the USD value
Value: is the BTC value
Balance: Ignore it, because it is the GOX account value after this trade. Just write 0 or nothing

If you think this one is complicated... this is the easy one :-)
There is also an advanced import where you have to upload both CSV files.
Yeah... that is/was GOX :-)

Let me know if you have some problems

Best, Dario
   

[dave3]

I'm trying this out in an attempt to keep track of income from mining.

I've put my incoming mining addresses into the "BTC Wallet Job for Miners and Donations" page and I noticed that it recommended creating a second account for trades.

What counts as a "trade"?  Is each mining transaction a separate trade?  Is a bitpay purchase or bitcoin donation a trade?

If I upgrade my first account to "pro" and then create a second account for trades and join it to the first one, does it get included as "pro" or does each account need to be upgraded separately?

Thanks.

[dave3]

Also -- my goal would be to first calculate my mining income, and then secondly when a purchase/donation/trade for USD occurs to join that in a first-in/first-out way, to the basis for the mined coins.

For example, say I mine a certain amount of BTC over the course of a year, all at various dates and valued differently depending on bitcoin price on the day it was mined.

Then I have various bitpay transactions, bitcoin donations, and trades for USD that I want to deduct from the mined balance and have it calculate the capital gain using the various bitcoin values when the various coins were mined as the cost basis.

Would I want it all in one account, or two separate accounts to do that?

[Dario3000]

I'm trying this out in an attempt to keep track of income from mining.

I've put my incoming mining addresses into the "BTC Wallet Job for Miners and Donations" page and I noticed that it recommended creating a second account for trades.

What counts as a "trade"?  Is each mining transaction a separate trade?  Is a bitpay purchase or bitcoin donation a trade?

If I upgrade my first account to "pro" and then create a second account for trades and join it to the first one, does it get included as "pro" or does each account need to be upgraded separately?

Thanks.

Hi Dave,
let me answer your questions

1) if you have more then one account and you upgrade to pro, of course all your accounts will get pro.
The same if you upgrade now to pro and you join more accounts in the future. All the accounts will get pro.

2) The BTC Wallet Job don't count every single "transaction". It checks your BTC balance every 10 minutes and will insert the difference into your account.
Lets say you have now 1 BTC in your wallet and in 10 minutes you have 1.5 BTC. So the system creates a trade into Coinreporting with 0.5 BTC.

3) The answer to the question "one or two accounts" depends on what's the best solution for you.
In my case, I have one account for long term tradings (will not be sold in the next years), one account for daily trades and one account for mining.
So I have all actions seperate.
If you have more than one account, you will get a TOTAL view, where you can see the value of all your accounts togehter.

But if you sell all your mined BTC in USD or EUR instantly, it could be easier to make both in one account.

I would suggest, you should try both versions and see what is the best solution for you.
so create two accounts (or even three) and just try it.
You can delete groups of trades any time (for example all BTC Wallet Job trades at once) and you can also unjoin your accounts anytime.

I hope this will help you. If not, please let me know

Best wishes and a nice weekend.
Dario