Income calculations instead of capital gains
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Pink Spider
In Australia (and probably other places too), crypto participants who "trade frequently" need to file their taxes under income instead of capital gains. It would be incredibly helpful if the platform allowed you to choose whether your account is in CGT or Income mode, and then show the relevant calculations based on this setting. Alternatively just generating additional tables or outputs, and/or exportable files that shows this would work as well - instead of having to add the toggle box.
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Sarah R - CoinTracker
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Sam - CoinTracker
Merged in a post:
Income Report Needed, Bug in Income calculation
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Note that other platforms like Koinly and CoinLedger (formerly CryptoTrader.Tax) will generate an Income Report CSV listing all our incomes, NOT JUST capital gain CSV. We need this to accurately double-check if your income calculation is accurate, and to report taxes. Also, I discovered that your Tax Center Income Calculation is Wrong--it neglects and ignores fiat income (such as interest) generated by lending our fiat on crypto trading exchanges. At least you should have included a separate income calculation saying "Fiat Income" or something.
Eivind
Merged in a post:
Income tax calculations instead of capital gains
P
Pink Spider
In Australia (and probably other places too), crypto participants who "trade frequently" need to file their taxes under income instead of capital gains. It would be incredibly helpful if the platform allowed you to choose whether your account is in CGT or Income mode, and then show the relevant calculations based on this setting. Alternatively just generating additional tables or outputs, and/or exportable files that shows this would work as well - instead of having to add the toggle box.