Post
Topic
Board Service Announcements (Altcoins)
Re: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies
by
bergenic
on 30/01/2018, 17:26:54 UTC
This question has been probably answered many times here, but it's difficult to go through 50+ pages so I hope I can get a reply like this Smiley

I just started to use CoinTracking and it works great, I can get all trades in great, no problem. But when I create my Tax Report I get warnings and an issue I guess is popular?

My Bitcoin history starts like this: I deposit 1000€ -> I buy Bitcoins with 1000€ (to get back those prices...)

In my Tax Report this 1st Purchase of Bitcoins is marked with a warning, and it says there's no suitable purchase date for selling of these 1000€. Since the trade is buy BTC / sell EUR.
So the program then makes this entire 1000€ as gains. There is no gain at this point because I've just purchased my first Bitcoin, there'd be only gain if I sold them.

In the example import excel a purchase is made by putting USD to Sell column and Bitcoins to buy. This is how I made as well.

So how are these crypto/fiat purchased supposed to be put in? I'm confused Huh

Edit: I have deposits marked correctly as deposits, shouldn't that wipe out the fake gain in this case.
Edit 2: I guess I have to input an "income" so then it gets canceled?