Creating a separate portfolio?

[mangolord]

Hello, hoping you can help me organize my account for the next tax year.

With my 2019/2020 tax year finished, I plan to leave my current portfolio for 12 months for potential CGT reductions.

If I wanted to make additional purchases in the new tax year & trade, can I in any way “partition” my account for FIFO purchases after 1/7/2020 and not effect the cost basis of my previous purchases?

I want to consider this year as a separate portfolio.

Thanks for the help!

[Chandan]

Hi @mangolord,

What you can do is make your new purchases in a separately wallet/exchange and then change your settings to account for taxes “by wallet” instead of “universally.” Would that resolve your issue?

Is cost basis universal or per wallet?

By default, cost basis tracking for FIFO, LIFO, and HIFO happens universally . That means, there is one queue for each coin across every wallet that you have connected on CoinTracker. For example one queue for bitcoin, one queue for ether, etc. In the case of FIFO, the first BTC acquired is the first BTC disposed — doesn’t matter if the first BTC you purchased is in Wallet A and the first BTC you sell is in Wallet B. We now have an advanced feature in the settings that allows you to change the…

[mangolord]

That might be a solution if I can open multiple accounts on a few exchanges with new API’s.

It might also then be better to open a 2nd Cointracking account to keep each portfolio clean rather than switching settings. Would you allow this with without a 2nd subscription purchase?

Thank you.

[Chandan]

Hi @mangolord,

Ping us the email to feedback [at] cointracker.io, let’s see what we can do.