Do you need a tax report for all your digital assets?
Fellow Steemians and Crypto-Traders!
Today I have a link for you:
Cointracking.info
This service is up since April 2013 and I simply can´t believe that I stumbled upon it just a couple of days ago.
It provides ALL functionality that I ever wanted to have in order to keep track of my cryptofolio, my trades and with all the taxes which thereby incur.
Here a few bullets to highlight some of the main features :
- Batch import of your trading history from 26 exchanges
(The joy of having your Poloniex trade history imported within a few seconds is just priceless. Just be prepared to see for the first time black on white, how much trading fees you have already payed ;-) ). - History and latest prices for > 4000 coins, list of all trades and fees, grouping by exchanges
- Capital gains and tax report (with variable parameters for all countries)
- This one I love most: keep track with all coins with a holding period above one year (can be sold or exchanged tax-free in many countries)
Depending on the amount of trades you may need to switch to a premium account in order to get a tax report.
Keep in mind that you are submitting your real trading data to a third-party server. So make sure to register an anonymous account and double-check the csv files with your trading history for the absence of any personal data before uploading. To avoid having your IP being associated with your portfolio consider using a VPN-service.
Also, take note of the disclaimer on the cointracker.info website and don´t use any information delivered by this service for your tax computation without consulting your personal tax accountant:
Disclaimer: The information contained on CoinTracking is provided for general information purposes only. It is not intended nor should it be used as a substitute for tax, audit, accounting, investment, consulting or other professional advice on any subject matter. You should seek advice directly from a professional before making any decision or taking any action on accounting, tax, financial and consulting related matters and issues. The information provided at this site is subject to change without notice. All information in this site is provided "as is."
I hope you will find this service as helpful and enjoyable as I do.
Happy tracking,
Shaka
PS: I have no affiliation with this service. I´m just excited that I found out about it :)
Follow me @shaka
Cryptocurrency is a gift from God, and gifts are not taxable. :)
Haha, how wonderful! I wish I had known that before :-)
Tell that to the IRS when they come knocking on your door :P
You would rather calculate your taxes using
cointracking just in case.
Very useful information. I guess I will check it out just to get an overview of my trades. Thanks for sharing!
These all-in-one assistant wares are friggin' scary. I'll wait a few years for my personal AI / sexbot assistant can do it for me. ;-)
Yeah, interesting times ahead. If we get there, question will be how long it will last before these assistants become our masters...;-)
From the get-go probably. Just look at people with their smart phones. Who's driving who?
Yes, display adherence shows how susceptible we are for getting trapped as soon as someone or something triggers little dopamine bursts in our brains. At this stage though it´s still (human) corporations that act on us through smartphones. It´s not yet the devices themselves that master us. But we may get there...
You are supposed to claim income. Crypto included.
But of course.. I say NAY! F*ck the taxman and his merry band of government!
well said
At least with the current jurisdiction here in Germany crypto-profits are tax-free if you hold them longer than one year. If you make profit by short-term speculation taxes apply and I don´t really see a reason why it shouldn´t. Except if one disclaims the concept of taxes entirely - which I don´t.
Great resource!
Thanks!
Thanks for your feeback. Glad to hear that you find it useful!
Great information. I always wondered about the taxes that might apply.
Your welcome. Glad if this is helpful information for you.
Thanks mate to share good information but i think no need of such type of tax reports for all assets specially for digital assets.
Your welcome. I guess it´s an individual decision whether this is a needed service or not. I personally was looking out for something like this since considerable time and I´m glad that I now found out about it.
Cheers!
foolback me@moegana
Thanks very much for the post and the "Keep in mind ..." section!