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Re: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies
by
Daled12
on 06/11/2017, 06:17:28 UTC
@dario

Thanks, that is good news, sounds like you are on top of it.

I do think you need to do a bit better job of explaining that though on the site(maybe I am not seeing where it is fully explained), its not really clear how it works, especially if you don't have an accounting background.

For example I am still a little confused on this explanation on the site:

Best Prices: (recommended)
The currency with the lowest conversion difference (spread) is used in this order:
1. Fiat currencies (USD, EUR, GBP...)
2. Bitcoins (BTC)
3. Altcoins and commodities (ETH, LTC, XAG...)


So when I trade BTC for XRP, you just said in your response you are using the US dollar value of the BTC to determine the transaction price, correct?  So when would case 2. (BTC) ever be used?  Or in my example are you using case 2?