I’m using the Kraken API and have noticed that some transactions are not recognized correctly. Strangely, the not recognized transactions are spot purchases of BTC, ETH, XRP. My margin trades show up correctly in CoinTracker.
The Kraken ledger labels those spot purchases as “Received” (which sounds odd to me, but they certainly were spot purchases on Kraken).
I tried to attach some screen shots, but the system would not let me do it.
Could you please send us a screenshot of where you see this happening via our Contact Us flow (if you haven’t already)?
Thanks. I filled out the “Contact Us” and attached screenshots.
Many thanks in advance.
Hi, I’ve been working on my taxes and hope you can fix the Kraken API soon. I’ve been going through the Kraken ledger and noticed that CoinTracker does not agree well with the Kraken ledger, to say the least. Not only the spot purchases are not recognized, also some margin trades seem wrong.
I guess I have to look for a different crypto tax software.
Thanks for your patience and for highlighting any issues to our support system. We will take a look and circle back with you.
In the same bucket with Kraken here. I’m working extremely hard to manually correct some issues I’m seeing:
- some general margin transactions not labeled correctly as margin transactions
- some settle transactions not labeled correctly
- running balance is not accounting fees when the currency is the coin and not USD
While I’m hoping I can correct this for my ETH and BTC trading by hand, USDC being used to fund a lot of the margin trading I did originally is looking like a nightmare (cost basis is ~$1.50 of USDC somehow at the moment).
I’m wanting to love this tool but this manual work is really demoralizing.
@codybre : you’re right, upon closer inspection, I also noticed that CoinTracker labels “Position Settled” as Margin, which leads to wrong results. I only did a little margin trading last year, so I was able to correct most errors manually (painful), but couldn’t get perfect agreement with the Kraken Ledger. In 2021 I’ve already done a lot more margin trading, so any manual intervention becomes untenable.
My cost basis for ETH and BTC shown by CoinTracker remain wrong, too.
I hope they get this fixed soon, as CoinTracker looks preferable over the other Tax Software I’ve tried so far.
@Chandan what are our options here? I’m trying to have faith in this service and am still paying the monthly subscription fee, but the inaccurate cost basis tracking means taxes will not be accurate. I cannot buy the additional tax service under these circumstances.
I just tried a different (free) crypto tracking service and it correctly loaded my history from all wallets/exchanges, including margin transactions. Out of respect I won’t name it here, but that’s proving there’s some serious competition that’s making me waver.
I’m having major issues with this as well. I’m a paying member too, but knowing that there might be free alternatives out there that actually deliver on what they promise is making me very tempted to jump ship. I’ve not had any response to support queries and I’m still unable to get the custom coin feature working in a satisfactory manner, meaning two coins I store significant value in are unlisted and my accounts are calculated wrongly…
I too have noticed major issues with Kraken, and Cointracker is currently unable to keep up with my activities across 4 exchanges and 3 wallets; it’s disappointing. It’s going to take me hours to get to the bottom of the multitude of errors in accounting.
Sadly, I’m switching from Cointracker to a different software as tax season nears. While I like some aspects of cointracker, the issues with Kraken API and nonsensical coat basis calculations (like $0 for my ETH despite hours of hand edits) are to severe and I thus can’t trust the generated tax forms.
Thanks for flagging the issues with Kraken margin — we’ve noted them and will get them resolved here.