Hello, I just started to use Cointracker and have a question about adding a manual entry.
I bought in Aug 2020 some CVR tokens and they are still in the COVIR wallet. I have not transferred them or sold them yet. Do I need to claim them in Cointracker or only when I sell to trade for something else?
I would go ahead and add. Trust me when I say trying to go back and retro-add everything when sell or swap or tax time comes… sucks. When you do trade or sell, the cost basis for what you bought for back in 8/20 matters.
I’m at the point after my first year of taxes, this year, of constantly monitoring my cointracker port and any time anything happens I do my best to make sure the transaction, whatever it was, is tracked here. If not… like it can’t cuz coin isn’t listed or something, i keep track in a spreadsheet of what I have to keep in mind come tax season(s).
Ok Im trying to figure out how to add it manually. I bought $200 worth and got x amount of tokens. Do I just add the $200USD and put in the notes how many tokens I have?
Well, I can show you how to add a transaction to show your USD purchase going into → x CVR but… if I were you I would try to add the exchanges/wallets themselves if possible. I don’t know anything about covir so… gunna be a shot in the dark.
- where did you buy it, what exchange or …
- where is it stored right now, what wallet or exchange?
But yeah if you wanna do a simple entry you could do the ‘add transaction’ and on the left put the USD info and any fees incurred and on the right how much you got of the coin. So example, see attached…
This works if you bought it ourright. But if you first had to buy ETH or something to make the swap with, you would need to instead add an usd → eth and then a eth → cvr transaction.