Cointracker vs Koinly, and the crypto taxpayer's lottery

So I exported all my Cointracker transactions and ran them through Koinly - it gives totally different answers for CGT liability! Over 100% difference for 2019/20 tax year which I have to report to HMRC on in 3 days. Makes me think that it’s all just jibberish, and ultimately is a black box that can spit out a vast range of different answers depending on tiny differences, and how much tax you end up paying is just a lottery! Has anyone else tried running their taxes through multiple platforms?

I wonder whether there are differences in their price feeds? Looking at a couple of big crypto-crypto transactions, the cost basis for the bought coin is 20% difference between the two. With rapidly fluctuating prices I guess the price feed really matters. Is it a daily average? Hourly? Or a down to the minute price?

Interesting to know more about this. I think the cointracker share pooling calculations look OK to me - I did a check on a transaction that fell under the bed and breakfast rules - which according to HMRC at the time, cointracker seems to have tracked / calculated the gains properly.

Have you tried connecting Koinly directly to your exchanges rather than using cointracker data?

forgot to say I haven’t used Koinly lol.

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Just had a look on the Koinly forum and there is an issue with their share pooling calculation, do a search for a post called “Trying to understand cost basis using Share Pool / Individual”.

This has made me question the Cointracker calculations - to check if cointracker are doing it properly will require a lengthy investigation / manual checking based on the share pooling rules.

If anyone is from the UK and has vetted the cointracker calculations can you confirm your findings and @Cointracker - can you confirm that the share pooling calculation are working properly according to the HMRC rules?

So one thing that was apparent when I checked was the prices (used for determining cost basis) were up to ~10-15% different between CoinTracker and Koinly for the same transactions (and slightly different again to the nearest price on CoinMarketCap.

Yes, we use share pooling rules. Here is a detailed explanation of how we handle share matching.