Most importers can automatically import fees. But you can also add them manually on the Enter Coins page once you have switched the table to Table View: Extended.
Please note that the purchase and sale values displayed on CoinTracking already include all fees.
- In case of a sell, the fee needs to be entered as additional amount on the sell side. (Withdrawal)
- In case of a buy, the fee needs to be subtracted from the buy side. (Deposit)
Because these are the actual amounts you need to pay/receive on exchanges. You could say you enter the "Actual received/spent amounts", with fees included.
The fee field is more an informational value for our system, so we can calculate the data for our Fee page. Relevant for calculations are the entered values.
You have bought 1 BTC for 500 USD and you have paid an additional fee of 5 USD.
Create 1 entry: Buy = 1 BTC, Sell = 505 USD, Fee = 5 USD
You have bought 1 BTC for 500 USD and a fee of 0.01 BTC has been taken from your purchased Bitcoin.
Create 1 entry: Buy = 0.99 BTC, Sell = 500 USD, Fee = 0.01 BTC
You have purchased goods for 0.2 BTC and you have paid an additional transaction fee of 0.001 BTC.
Create 1 entry: (OUT) Spend of 0.201 BTC, Fee = 0.001 BTC
You have transfered 1 BTC from Wallet A to Exchange B and you have paid an additional transaction fee of 0.001 BTC.
Create 2 entries:
(OUT) Withdrawal of 1.001 BTC from Exchange = Wallet A, Fee = 0.001 BTC
(IN) Deposit of 1 BTC to Exchange = Exchange B (no fee entry here)
If, in a rare case, a deposit fee does occur, this can lead to deposit and withdrawal not resulting in a match in the Missing Transactions report. A work around would be:
- Enter the deposit fee together with the withdrawal fee in the withdrawal entry
- Enter the deposit fee as an additional entry "Other fee" on the deposit page
Any fee that is paid in a third currency (i.e. a coin that is not part of either the sell or the buy) is not deducted from the total balance. A common example is BNB on Binance.
In order to correct your third coin balance in the portfolio, you need to create an additional transaction as OTHER FEE for the fee. This happens automatically (starting May 2020) when you import Binance by API as described in this article: BNB balance wrong due to fees not being deducted).
In the advanced tax report settings you can include the fee into the cost basis and gain - via the FIAT values.
Realized Gains and Fees:
Every transaction of a coin, if it is a buy, a donation, spend or fee has a taxable impact because the coin did increase or decrease in value during the holding period between buy and the time when you loose the ownership of the coin.
Therefore the fees are taken into account for gain calculation. A value increase is a a taxable benefit (e.g. you if you need less amount of a coin to pay the fee).
Here is described in detail how fees are handled in reports within CoinTracking: How fees are handled within CoinTracking