How can I enter tax-free coins? Let me give a few examples.
1. I let an exchange or some other kind of company keep coins on my behalf. The company goes bankrupt or at least stops operating. I book the coins as lost. I might not even have used CoinTracking then. Years later the company comes back to life and still has some of my coins. Since they have been held for more than a year, these coins should incur lower or no taxes. How can I book them into CoinTracking without falsely incurring fully taxable gains when I sell them soon thereafter?
2. I lose the key to a wallet and book the coins as lost. Years later I find the key again. Since I have held these coins for longer than a year, they should be taxed lower or not at all. How do I book these in CoinTracking?
3. I win bitcoins in a bet. Winnings from bets are tax-free in my country, so how do I book them in CoinTracking? Obviously they have to be included in FiFo calculations if at all applicable, i.e. when these coins are sold under a FiFo regimen, the sale should be tax-free.
I have to correct my earlier posting and have to rethink bets. I'm not sure about these any more. They may be taxed like gifts, i.e. their acquisition is tax-free, but selling them later is taxed normall. Does anybody have more precise information about how bets are taxed in different countries?
Let me try again for the other two cases. How can I enter tax-free coins? Examples:
1. I let an exchange or some other kind of company keep coins on my behalf. The company halts operations. I book the coins as lost. I might not even have used CoinTracking at the time. Years later the company comes back to life and still has some of my coins. Since they have been held for more than a year, these coins should incur lower or no taxes. How can I book them into CoinTracking without falsely incurring fully taxable gains when I sell them soon thereafter and without having to alter bookings in previous years?
2. I lose the key to a wallet and book the coins as lost. Years later I find the key again. Since I have held these coins for longer than a year, they should be taxed lower or not at all. How do I book these in CoinTracking, again without having to alter historic bookings?