Post
Topic
Re: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies
by
Daled12
on 01/07/2017, 13:48:20 UTC
Can someone help me with this or tell me if I am incorrect? I am losing my mind over this and I can't tell if I am wrong or cointracking support is wrong.

Here is the scenario:

Let's say I spent $35 dollars on Bitcoin and ethereum last year.   Since then, I have made a lot of trades with my BTC and ETH with other altcoins.  And now my account value is worth $250.  This is due to appreciation of BTC and ETH as well as good trades with BTC and altcoins.  So now I have more bitcoin then when I started buying, as well as owning other altcoins.

So, you can see I have a profit of $215.   But, when I go to the realized and unrealized gains report, I see I have $127 of unrealized gains, and $104 of realized gains.  Which totals $231 dollars.

Shouldn't the total of my gains equal $215?

I have talked to support about this and they say this is correct, that everything is showing correctly, but the math seems extremely simple to me.  I know exactly how much profit I have made, $215, therefore my realized and unrealized gains must also total $215.

Has anyone else had this problem?  Or am I missing something and not thinking about this correctly?

I would love to upgrade to PRO for this software but it needs to work correctly.  I need to pay estimated taxes on my gains this year, and am relying on the realized gains figure to calculate how much I owe.  But if its too high, that will mean I overpay my taxes.

Help???