Post
Topic
Board Service Announcements (Altcoins)
Re: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies
by
AltScope
on 14/02/2018, 07:14:22 UTC
Hoping someone can help me with transfers between accounts and how to categorize to establish a cost basis.  Here is the Scenario.
I have 2 Accounts setup in Cointrackin.info.  1 for Mining/trading  and 1 for HODL.  Im going use made-up numbers for the scenario.

1.  I mine .5 ETH to Account A worth $500
2.  Of that I transfer .25 ETH into Account B worth $250
3.  I should now have .25 ETH in account A and .25 ETH in account B both with a cost basis of $250

I am not sure how to achieve this in the software as i was testing tonight.  I did the following.

1. Created a Withdrawal in Account A for .25 ETH (now my balance is good in account A, and i am pretty sure the tax is correct)
2. Did an API import in Account B for my HODL wallet.
3. This created a deposit in Account B for .25 ETH


My issue is now when i look at my realized/unrealized gains area it shows the gain as $250.  Also when I ran a tax report it also showed a gain of $250
So this is making it so my cost basis is $0

Can anyone help me and tell me what I need to modify on my transaction to establish cost basis?  Do I need to add another manual transaction of some kind?  I have the accounts linked in Cointrackiing.info  Is there anyway to make them aware of the transfer?

thanks!!


anyone got an answer for this its something i want to do as well. is it just a case of doing  your reports under "total"?

@Balkos try doing a report under "total" and let us know if you'd be so kind