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

[Andreas_CoinTracking]

@lifeiscrypto
This is not possible yet. Either with trade group or without. We have this on our improvement list. Thank you for your patience.
You could only see the overall development.

[1714987734]

1714987734

[maxheller]

Hi Andreas_CoinTracking,

I see that you answered a similar question in April 2021, but hopefully there has been some progress since then...

I have been using cointracking.info since 2018 choosing the LIFO method. Now I would like to switch to FIFO starting this tax year (2021). How do I do that?

Thanks.

Max

[Andreas_CoinTracking]

@maxheller
We are still working on this. It is not yet possible to change calculation methods over tax years. Thank you for your patience.

[maxheller]

OK, thanks.

A question for everyone: what have others been doing when they want to switch accounting methods (LIFO --> FIFO in particular) from one year to another on cointracking.info? Do you create a new account with your final positions from your previous account? Do you switch to another platform/website?

[Pupkin1]

Hi Andreas_CoinTracking,

1) uniswap v3 seems to be importing without trade transaction - just withdrawals and deposits - any advice?

2) wen arbitrum?

[Andreas_CoinTracking]

Updates and Improvements
API
- New API import: KuCoin Futures
- Bybit and many other exchanges added to Live balance view
- Kraken (KSM staking improved)
- FTX (fee for Market Order transactions improved)

CSV
- New CSV import: Digital Surge, Hodlnaut & Criptan
- OKEX (additional CSV format added)
- Binance (Updates for commission rebate, staking & liquid swaps)
- Trezor (support for new CSV format)
- Nexo (support for new CSV format)
- Kraken (KSM staking improved)
- Ledger (Delegate and Reveal improved)
- BlockFi (support for ACH trades)

Blockchain
- Further blockchains added to Live balance view
- DFI chain via Altcoin importer (only basis transactions, no LP)
- Improvements for AVAX, SOLANA, ETH & POLKADOT

Other
- Several ticker updates for correct assignments and price history
- Tax report updates: updated US tax report, improvements for the flowchart, HMRC and ACB
- New partner benefits: Cryptoquant & Steuerbot

Source: https://cointracking.info/new_features.php

[rogain905]

Hi Andreas_CoinTracking

I am having a couple issues with my detailed calculation tax report.

First, my ending share balance and ACB for my USDC tokens on the detailed report excel printout don't match anything else. I am off by the exact amount in the first line of the closing position report below (9577 shares and 12207.63 cost basis). You can see it has a wonky date and no buy/input value. Do you know how I can dig into where this is coming from? There are other tokens that have the same date and buy/input issues but the detailed calculation report isn't out of balance for them so im not sure where to begin.

CoinTracking - Closing Position Report                        
Amount   Currency       Date Acquired   Buy/Input at   Purchase Price in CAD    Year End Price in CAD    Cost Basis in CAD   Year End Value in CAD   Gain/Loss in CAD
9570.510   USDC   1969-12-31                              1.2755473                  1.27057488                 12207.63861             12160.05002                      -47.5885968
103.083938   USDC   2021-12-29   Sol Wallet DSAC   1.27504356                  1.27057488                   131.4365117        130.9758623                     -0.46064943
102.755701   USDC   2021-12-29   Sol Wallet DSAC   1.27504356                  1.27057488                131.0179953       130.5588126                         -0.45918264


Also, often (but not always) when I open the excel file that exports for this report I get the following error: "we found a problem with some content in 'cointracking - detailed report.xlsx Do you want to try to recover as much as we can? If you trust the source of this workbook, click yes."
     When I hit yes it opens and I get this message - "Excel completed file level validation and repair. Some parts of this workbook may have been repaired or discarded.
     Repaired Records: Cell information from /xl/worksheets/sheet1.xml part"
I don't necessarily see any issues with the file after but its hard to know for sure with over 20,000 lines of data so its a little concerning. Have you heard of this issue before and do you know a solution?

Finally, I noticed that the coins in the report are never in the same order twice (i.e. when I create a new tax report). Again I can't see any issues but its hard to confirm everything and its a little odd to me.

Thanks!

[MuAnon]

Possible bug.  BNB cross-chain transfers. From BEP20 to BEP2.  Deposits not picked up on the BEP2 side.

There are two Binance chains: 
"Binance Chain" = "BC" = BEP2 = 'bnb' prefixed wallet addresses   (Explorer is explorer.binance.org)
"Binance Smart Chain" = "BSC" = BEP20 = '0x' prefixed wallet addresses   (Explorer is bscscan.com)

For context, TrustWallet includes a DEX front-end for transferring BNB between the two chains.

What I'm finding with Cointracking is that:

BNB transfers from BEP2 (BC) to BEP20 (BSC): Both the Withdrawal from BEP2 and Deposit to BEP20 are picked up correctly by Cointracking.
-- However --
BNB transfers from BEP20 (BSC) to BEP2 (BC): Only the Withdrawal from BEP20 is picked up.  The corresponding Deposit to BEP2 is NOT picked up by Cointracking.

I doubt the issue is specific to Trust or BNB.  It appears that explorer.binance.org correctly surfaces "Crosschain transfer out" transactions, but may be missing "Crosschain transfer in" transaction type.

Is this a known Cointracking issue?  Is there anything Cointracking can do to solve it?

[Andreas_CoinTracking]

@MuAnon
Please send us a ticket/E-Mail support@cointracking.info with wallet ID and transaction hash(es) and copy the text from your post in there as well. Thank you. We will add this then to our improvement list. For now adjust/add those transactions manually.

[rdnkjdi]

Hey guys, I think I've paid for 3 different crypto tax services now trying to find one that will work o.0. I'm having difficulty understanding something. I have a bunch of NFT transactions on Solana that I'm trying to resolve.

To test, I've done a test import that is 4 simple transactions. 1 - Deposit. 2 - Purchase 30 Sol. 3 - Purchase NFT asset. 4 - Sell NFT asset.

It is giving me a weird error "No valid tx-type. This transaction will not be imported." In addition - it's like it is duplicating the Sell NFT asset. It does import this transaction & appears to be calculating things correctly but I have an enormously complicated data set & am trying to work thru each error individually. What's happening here?

[Andreas_CoinTracking]

@rdnkjdi
Which importer are you using here? CSV or Excel or a direct importer?
We have SOLANA as API(https://cointracking.info/import/sol_address/). Regarding NFTs there are often adjustments needed after importing those transactions via API.
There is an FAQ available about NFTs: How to add NFT or IDO transactions (https://cointracking.freshdesk.com/a/solutions/articles/29000038312?lang=en)

[rdnkjdi]

***Edit*** Realized there is more I need to learn on my own before asking more questions.

[p4ch1nk0]

can you please increase the limit on decimal places and the character limit for ticker symbols? almost all ETH tokens have 18 decimal places and many have tickers going up to 18 characters. this product is incredibly confusing for me right now because the limits are much lower than that. it doesn't actually skew my taxes that much when 1 ETH is only a few thousand dollars and all but the last 8 digits get chopped off. but there are defi deposit tokens that are worth way more than ETH (think north of 2 million USD) and you get just a tiny fraction of one in exchange for thousands of dollars. they also tend to have really long ticker symbols.

I want to enter 0.000000421187506859 MOOMAIUSDC-MIMATIC (that's worth about 1 USDC right now!!!) but I can only put in 0.00000042 MOOMAIUS. it is very hard for me to leave myself notes in the comments about what I actually bought and it is much harder for me to multiply the value to make all the decimals fit and remember what I did. koinly supports all the digits and the full length tickers. why can't you?

workaround: the software can only fit between 0.00000000 and 9999999999999999.99999999
move the decimal point to the right until there are 8 after it. this increases the value by a factor of 10000000000 (10 billion). 0.000000421187506859 becomes 4211.87506859
then put the full length ticker under Group.
if I go past the 999999... I have to split it up into multiple transactions. see how hard all this is to remember?

[rdnkjdi]

@rdnkjdi
Which importer are you using here? CSV or Excel or a direct importer?
We have SOLANA as API(https://cointracking.info/import/sol_address/). Regarding NFTs there are often adjustments needed after importing those transactions via API.
There is an FAQ available about NFTs: How to add NFT or IDO transactions (https://cointracking.freshdesk.com/a/solutions/articles/29000038312?lang=en)

FWIW on this - it has to do with how LibreOffice Calc saves CSV files. You have to open it with a text editor and get rid of the extra line feed at the bottom or it throws the error every time no matter what the transaction is.

[rdnkjdi]

Ok I'm about to lose my mind.

I'm manually importing a file with purchases of NEAR. Later, when they were deposited to exchanges (KuCoin & Binance) & sold, on the tax report it's giving me "There is no suitable purchase to this sale all purchasing pools are consumed" & it's counting my purchases with a $0 cost basis even though they have a cost basis on the purchase from the file I've imported & in CoinTracking software.

I've double checked dates, I've tried manually adding withdrawals from the wallet label I gave my imported transaction on the date it was deposited to the exchange, I've tried deleting the exchange deposits and manually adding a Transfer from my manual wallet to the exchange & nothing seems to help.

I've read these two articles. Generally, is the logic supposed to handle a purchase of an asset that later shows up in a deposit on an exchange? I feel like I'm missing something. I have "Consider all previous trades in report" checked, have "Use Depot separation (tax lots)" unchecked. What could I be missing here?

https://cointracking.freshdesk.com/en/support/solutions/articles/29000021912-warnings-in-the-tax-report-there-is-no-suitable-purchase-to-this-sale-all-purchasing-pools-consume
https://cointracking.freshdesk.com/en/support/solutions/articles/29000028707-example-transaction-sequence-wallet-exchange-wallet

[Andreas_CoinTracking]

@rdnkjdi
Warnings always shows that transactions are missing or wrongly added (e.g. timestamp - withdrawal after a deposit within a transfer).
Please check this FAQ "How to validate my account?" (https://cointracking.freshdesk.com/a/solutions/articles/29000035339?lang=en) - we have 4 "validation check reports" available or write a ticket/E-Mail with you account name.

[rdnkjdi]

I wasn't pushing the "Generate new tax report now" button because I'm a brainlet

[dontomas12345]

Hey is there a way to get your total USD value that you've put into cryptos?

Would that be the "Total Value of All Currencies" which is about -$50k

So that means I spent 50k in USD to buy these cryptos?

I'm just a little confused by the wording.

[Andreas_CoinTracking]

@dontomas12345
Yes exactly this is the value on your dashboard if you do not track FIAT (USD) deposits and withdrawals which we recommend.
See "Difference between Profit/Loss, Total Account Value, Balance, Realized Gain and Unrealized Gain" (https://cointracking.freshdesk.com/a/solutions/articles/29000018167?lang=en)

[hansdampf123]

How should I treat leveraged yield farming transactions. Currently they are imported as simple deposit and withdrawal transactions and that's it.
Unlike normal liquidity provision one doesn't receive a LP Token when opening a position.

Protocols are:
https://homora.alphafinance.io/farm for ETH
https://homora-v2.alphafinance.io/ for ETH, Avax
https://app.alpacafinance.org/farm for BSC
https://tulip.garden/ for Solana

Thanks