Post
Topic
Board Service Announcements (Altcoins)
Re: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies
by
1MExpodingSuns
on 05/11/2017, 02:25:02 UTC
Is there any chance of supporting the Canadian accounting system for capital gains?

It uses an adjusted coat base ("ACB") that is basically the average cost to date of all transactions for that commodity at the time of the transaction, with the ACB being exhausted and resetting to 0 each time the individual reduces the commodity to 0.

The taxation system doesn't permit LIFO, FIFO, HIFO, or LOFO, but basically just averages the cost of all prior transactions for each transaction until the commodity is exhausted to 0.

There is a simplistic explanation with examples here:

https://www.adjustedcostbase.ca/blog/how-to-calculate-adjusted-cost-base-acb-and-capital-gains/