I used Cointracker last year to file report my crypto taxes and found it much better than Cointracking.info but this year I’m still overwhelmed and lost. It takes so much effort and what seems to be countless hours over days, weeks, and months to get ones portfolio to all add up. Since last year I’ve made plenty of new transactions which now add to the complication and I have even more transactions that just don’t add up.
I’ve become very frustrated, I’ve even gotten to the point of yelling at my computer screen. Lol, obviously that didn’t really help. Some of my most frustrating errors come in the form of the attached examples, then multiply it by many, many dozens of errors:
I’ve done so much to make sure that all of my transactions via wallets and exchanges have been added dating back to 2016. Yet so much still doesn’t add up.
I don’t understand how Cointracker “can’t determine the value of a sale”, it should be obvious especially if it’s a stable coin like TUSD. There is a timestamp, why is it not pulling the price from that time stamp to determine it’s value? Marking it a transfer doesn’t seem to make the error go away and there is no way of “adding the fiat received” especially if it was just a transfer or a crypto to crypto trade.
I don’t understand how so many coins “result in a negative balance”. If there wasn’t the balance to begin with how could the trade have been executed? “reviewing purchase history” doesn’t tell me anything. This one really frustrates me a lot. Last year I had to go in manually and make up transactions to attempt balancing it out and even then it made no sense. I feel like I’d paid extra in taxes last year and what I reported probably wasn’t accurate.
I also don’t understand “No purchase history”, why is this even necessary? I have the coins, I obviously acquired them through an exchange of which I have imported everything through CSV and API and it still wants to tell me there is no purchase history.
I just wish this worked more seamlessly, I admit I have a bit of a mess of many wallets and exchanges over the years many of which I no longer use. I’ve tried to create a new account and import everything again to see if its any less messy now but I still am annoyed at how time consuming non sense making putting one’s portfolio together has to be. I’m trying to be proactive to get it all added up by the end of the year so I can try the tax harvesting feature.
Are there any portfolio tracking experts out there for hire that would be willing to get all my ducks in a row?
I’m considering other coin tracking services to see if its works any better but I’m not convinced they will.
Who else feels like putting together their portfolio is just a complete overwhelming mess? I really hope I am not alone here.
Making sure all my exchanges and wallets are connected just isn’t the solution here.
Thanks for listening.