So I’m a bit discouraged after adding my API for Binance margin. It just imported every transaction as if it was normal cryptos. This threw off my cost basis quite a bit.
Shouldn’t margin and futures trading be generated as a PnL statement instead of per transaction basis? I believe other services are doing it this way but I’m not too well versed on how that works. If so I wouldn’t be taxed for every single trade within these accounts, just the Profit or the loss for the year.
@chandan will this feature be implemented?
Also, how are we expected to calculate and report for these the way it currently is set up with Cointracker? Just treat them as crypto to crypto trades? How about a short position?
Right now I’m trying to use a different crypto tax software in hopes of calculating this properly but it sure is a pain, I at least already have gone through the hassle of adding all my exchanges and wallets to Cointracker. I even paid for the 2020 tax year already. I hope I can just keep it simple and use Cointracker this year but I gotta make moves just incase Cointracker doesn’t work out this year.
How do you all feel?
How soon are we to having Binance Futures integration?
Will this be able to be simplified into just PnL?