Re: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies
Those 30 payments were people paying me for a service that I offer - so would those payment be considered income? The rest the $3 million (listed on the 1099k) is just my personal trading. No one knew GDAX was going to be sending out 1099K's until the very end of 2017 (and by then, I had racked up thousands of trades).
Obviously if people are paying you for a service or product, it's income.
I'd pay top price for cointracking.info, IF I think it actually worked right. Thing is it has ALL the balances correctly. But it says I owe $115 in cap gains after daytrading for 2 days and only actually getting around $40.
Now they want money for me to try it out further because I am over 200 trades, and I am not about to spend a dime on something i am not convinced is working properly. And they still hvaen't answered my support ticket about this.
I am going to have to manually calculate over 200 trades myself to and figure out how they figure I owe much more money than I got.
Now they want money for me to try it out further because I am over 200 trades, and I am not about to spend a dime on something i am not convinced is working properly. And they still hvaen't answered my support ticket about this.
I am going to have to manually calculate over 200 trades myself to and figure out how they figure I owe much more money than I got.
This isn't hard to figure out, run the tax report and see what it's showing for the cost basis on your trades. I'm guessing, but it's probably that you don't have a 'source' for your initial deposits, so it's calculating them as if you got your initial cryptocurrency at $0.