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

[Andreas_CoinTracking]

Yes we are working on AVAX already.

[Argon007]

@Argon007
This is possible to use CSV for one account and API for the other.
Just make sure you add a "custom exchange name" to your API job like "Binance Account 2" and you can thing about bulk edit the transactions which you add via CSV regarding exchange name e.g. from default "Binance" (no custom name possible via CSV!) to "Binance Account 1"

Great, Thanks for the answer!
Another problem that I discovered now: I've imported 4 Binace accounts via the CSV files. But they don't take into account "Convert small Balance into BNB". So I have a lot of those little left overs.
What is the easiest/smartest way to get those balances at 0?

Mark those balances as "lost"?

Thanks!

[moonmaths]

Is there any canonical way I should be editing Opensea offer acceptances (for WETH)?   
Cointracking is currently showing "income" of 10 Weth for the offer.  In a separate line, it shows Coinbases take as a withdrawal (1 Weth).  Later, when I get my secondary sales income, the income is again added in (+0.1 Eth). 

I need to pay taxes on 10-1 Weth at time of sale and another 0.1 eth at time of secondary sale payment.  Is there a neat way to do this?

[Andreas_CoinTracking]

@Argon007
If they are not part of the "generate all statement" Binance do not offer those transaction data via extract. So you have to add them manually here.
@moonmaths
possibly others have some experiences here. We have a FAQ here "How to add NFT or IDO transactions" (https://cointracking.freshdesk.com/a/solutions/articles/29000038312?lang=en)

[moonmaths]

Question on WETH (swap unswap). 

I receive 1 WETH on Jan 1.  unwrap on Feb 1 for ETH.  wrap unwrap etc between two logically equivalent things. 

How do I correctly log the wrapping and unwrapping if I want to keep the original basis price and date for tax purposes on subsequent sale for a different non-equivalent token? 

[Andreas_CoinTracking]

@moonmaths
if you want it not leading to gain/loss then please add as trade with "swap" as trade group as described here "Swap ETH to ETH2 and Staking ETH2"(https://cointracking.freshdesk.com/a/solutions/articles/29000038505?lang=en)
Otherwise this FAQ might be helpful: "How to add NFT or IDO transactions" (https://cointracking.freshdesk.com/a/solutions/articles/29000038312?lang=en)

[Stradic]

Hola a todos!

Seria posible que integraran el wallet Zelcore. Este wallet tiene la posibilidad de exportar un CSV, pero cuando lo intentas importar encuesta algunos errores como la fecha y no se puede completar la importación. Creo que seria bastante sencillo hacer la integración por vuestra parte.

Gracias! Un saludo

[Andreas_CoinTracking]

@Stradic
We do offer support in German or English language only. So I used a translate software to understand your inquiry. Please send us (support@cointracking.info) the CSV file to check if they have the mandatory information in the file and if it is importable via custom CSV importer. We would add a direct importer then to our improvement list.

[paulthetafy]

@paulthetafy
We have no direct contact here and we are only a user from their API beside many others. So thank you for your patience here.

Ok, but there's nothing stopping you reaching out to them on twitter. 

I understand that cointracking are only a user of the polygonscan API, but at some point you need to either pressure them to fix it or find an alternative API for cointracking to use.  I pay subscription fees to your for your service, so frankly don't need to hear about issues with your integrators, I just need to know when cointracking will start working again.

[Andreas_CoinTracking]

@paulthetafy
Understand your point. We reach out to them via Twitter, but if the vendor itself has issues with their API nobody can bypass this of course. So everybody in the world need to rely on working APIs from the vendors itself.

[paulthetafy]

Appreciated!  I replied to their tweet too, and tagged you guys and 0xPolygon, hoping that will stir something

@paulthetafy
Understand your point. We reach out to them via Twitter, but if the vendor itself has issues with their API nobody can bypass this of course. So everybody in the world need to rely on working APIs from the vendors itself.

[rogain905]

Not sure if this is the right place to post feature requests but as a non-USD user I need to report my trades in another currency, however for the purposes of my dashboard, and more importantantly finding incorrectly used token codes (i.e. SOL vs SOL2) it would be great to be able to choose USD as the currency value that shows while keeping my tax calculations in the currency of my choosing. Pretty much everything is quoted in USD so that should always be an option for viewing despite the need for tax calculations in a different currency

Also probably goes without saying that given the explosion of bridges having the ability to import from all chains is becoming a must. I understand you are working on the top 20 chains but having a dedicated team working on all chains at all time is a must IMO. Whoever can roll these out the fastest will win the cointracking game.

Loving the software so far

thanks!

[Andreas_CoinTracking]

@rogain905
thank you for your feedback.

You could do this already. In the extended tax report settings you can select 2 sliders if warnings for other purchase pools are shown or even calculate gain in foreign currency.
Or you switch always in the settings between 2 currencies or you add a 2nd account and restore your data there from time to time and have this account in a different currency.

We are doing our best to add more and more blockchain importers.

[moonmaths]

Thanks for the swap tip.  A great help.  


Staking e.g. ECRV on curve (the actual "Staking" tx):
1. normal tx fee   √
2. Non-taxable income on newly acquired ECRV-GAU  √
3. Withdrawal ECRV
4. Deposit ECRV

3, 4-- Is this updating my cost-basis?  If I want to keep original cost basis, can I simply combine 3,4, and group them as a swap?  

[Andreas_CoinTracking]

@moonmaths
you are welcome.
Deposit and withdrawals do not change the cost basis, they only "carry" it. Looks like a transfer from A to B. A trade is only on A and not on B so it would not help.

[moonmaths]

@Andreas_CoinTracking

Great to know.  The extra deposit/withdraw seems redundant then.  Is it done to properly keep the record of the current value of my tokens?  (As the xxx-Gauge token is valued at 0 in the same transaction)? 
If so, I'm not sure why we couldn't just use the "trade" and "swap" trick as used above, or something similar.   Just thinking out loud.   


Also, I've imported as you might have guessed, the eth address using your import, and have put the eth address as the exchange name.  Do you recommend that or something else?

[Andreas_CoinTracking]

@moonmaths
For me it is not clear why you need the deposit and withdrawal transaction. You only need those transaction types if you transfer coins from A to B.
Of course you could use the trade+swap transaction if you want to change Coin A to Coin B.

There is a 32 characters limitation of the exchange name field if you have not more characters you could use wallet address as exchange name of course.

[moonmaths]

@Andreas_CoinTracking
ty.  

When reviewing issues, I'm having trouble visualizing eg how much eth I have at a certain moment in time (and perhaps on what exchange).  This would be helpful when trying to find out what inputs I've messed up when I get a "short" error on taxes.  Is there any native asset 'viewer' that makes reviewing discrepancies easier than checking things out line by line?  

Also, any way to input trades with more than 1 input 1 output?  
When dealing with fees, is there a difference if they are inputted as stand-alone items vs. withdrawals vs deposits vs staking fees etc.?  Specifically in how they are used to do tax calculations for the USA, Germany.  

And are there "Undo" and "Redo" functions?  

[Andreas_CoinTracking]

@moonmaths
I see 2 options here.
1. the balance by exchange report (https://cointracking.info/balance_by_exchange.php) and add an end date at the filter on top
2. this report where you see purchase pool changes with every transaction (https://cointracking.info/double_entry_detailed.php)

No, you can only add 1 sell and 1 buy amount/currency within a trade.

Filling the fee field is optional. See those FAQs here:
Entering Fees (https://cointracking.freshdesk.com/en/support/solutions/articles/29000007202-entering-fees)
Other fee (https://cointracking.freshdesk.com/a/solutions/articles/29000021505-bnb-balance-wrong-due-to-fees-not-being-deducted-/en)

No, Undo or Redo is not available. Just make sure you are doing backups before bigger edits/deletions.

[moonmaths]

@Andreas_CoinTracking
Oh thanks, I made a mess of some of those tx, but am repairing it.  

1. For my first "Swap" tx of Weth for Eth, I am getting 2 separate (duplicated) warnings for the exact same, single tx:
"Sell of xxx WETH
There is no suitable purchase to this swap trade (all purchasing pools consumed). Assuming purchase on the same day for 0 USD."
The previous purchases are 2 tx from several days prior, and clearly add up to enough weth and eth to make the tx.  It is the first warning when sorted by date, and I'm not sure how to get rid of this one.  Anything I'm overlooking?  I've tried manually set a Weth price for the prior purchases, but that doesn't seem to be the problem.  


2. I'm also running into problems when withdrawing more than one coin from a pool.  e.g. I deposited eth into curve pool and later remove (in same tx) eth + seth.  This seth, when later sold, has no cost basis even when I manually input it.