Fee's Lost When sending

Hi, im creating CSV sheets ready for import.
When WITHDRAWING OR SENDING, it says to NOT include data in the fee’s tab, but instead absorb the fee’s into the SENT amounts.
How will the system know then what fee’s I can claw back for tax purposes later?
Surely this makes no sense?
Or am I missing something?
Kind regards
Dee

Hi Dee,

For CSVs, CoinTracker’s tax engine is setup to account for fees in the following way:

  • Sending side: sent amount should be gross of fees (also list fees in the fee field so you can see in the user interface what the fee amount is)
  • Receiving side: receive amount should be net of fees (list the fees in the fee field so you can see in the user interface what the fee amount is)

CoinTracker will then use this data to appropriately decrease your capital gain (by incorporating the change to your cost basis or proceeds). If you have any other questions, please let us know.

Ah ha.
I got it. That makes total sense.
But i gotta say that’s not clear in the web layer that pops up on the csv import page.
Thanks for the prompt respnse
Will continue to trial.

1 Like

And just to be 100% sure, if its a TRADE (ie not sent or received) then it should also include fee’s?

I didnt see this mentioned in the pop up layer for the CSV help.

But I assumed it must have fee’s?

Yes, you can still add the fees (if in the currency of the sent currency, then on the left side, if in the received currency, then on the right side).

Left side right side? In the spreadsheet CSV import, there are only three columns…
Recevied
Sent
Fee’s.

From reading your notes, I take it to mean…
If received, then the fee column should be blank
If sent, then the fee column CAN have a figure entered, for reference, but the fee should ALSO BE ADDED to the sent value. Ie the sent value should be GROSS cost inc fee’s.
If trade, then there is a NET value is received and in sent, + a figure in FEE’s.

Am I understanding this correct?

I feel for such a simple process this is becoming complex and you shouldn’t be needing to answer this question. Surely the CSV notes should have this clearly explained so I don’t even have to ask?

I’ve shown your CSV import help to 2 other ppl to gauge if I’m being stupid here and both agree its explanation is to basic to provide clarity for a new user. Just some feedback.

Thanks for your help to get this sorted
Kind regards
D

Hi @LeadGr8,

Thank you for the feedback. For CSV upload, you can always populate the Fee Amount and Fee Currency fields.

  • If the fees are in the sent quantity currency: ensure that the sent quantity is gross of fees
  • If the fees are in the received quantity currency: ensure that the received quantity is net of fees

Here are the instructions.

Hey guys,
Thanks for this, I have looked at it many times.
Just so I’m super clear, what I think is not clear…

“Sent fee’s should include fee’s”
Your image shows sending 3 ETH and a fee of 0.0001
When i first saw this, I assumed the sent amounts rows ALSO use fee’s.
I did not take this to mean sent amounts include fee’s built into the sent fee.
When you said sent fee’s include fee’s GROSS this makes me think that your example is misleading. because in reality you are sending 2.9999 plus the 0.0001 fee.
This is the information I’m referring to as misleading in your notes. It’s not clear.
Saying “Sent fee’s should include fee’s” can be taken two ways

And then for the trade fee’s in your help notes, you don’t even mention fee’s.
Which really confused me, because your not mentioning it all made me hesitant of putting fee’s in the csv.

SO to confirm…if your spreadsheet csv example.

  1. LINE 3 is the only sent Tx. In your example can you confirm you are sending 2.999 with a 0.001 fee?
  2. With trades, are either sent or received to include fee’s?

I hope that helps, I’m not trying to be funny, but if one person is experiencing confusion then its likely others are so I hope this explains where I’m finding the confusion.

Kind regards
D

Confirmed.

  • If the fee is in the sent currency, the sent amount should include the fee amount
  • If the fee is in the received currency, the received amount should NOT include the fee amount.