Explanation of Transaction Types
Modified on: Mon, 15 Apr, 2019 at 7:19 PM
In Cointracking you can choose between several transaction types to map your capital flows. Those transaction types trigger different calculations.
There are mainly "one-way" transactions [In] or [Out].
There is in addition the "Trade (exchange)" transaction where you can show the swap between trade pairs, either FIAT with crypto currencies or between two crypto currencies.
A special transaction is "Transfer" which creates an [In] and [Out] transaction (withdrawal and deposit) with one entry.
The following transaction types are available:
1. Trade: You buy one currency and sell another e.g. USD/BTC or BTC/USD (more information: Entering Trades).
3. [In] Income: Earnings or payments you receive.
4. [In] Mining: If you receive coins you mined.
5. [In] Gift / Tip: If you receive a gift from someone, also sometimes: air drops, forks, rebates, rewards, dividends (more information: Possibilities to tax a forked or donated coin).
6. [Out] General Withdrawel (Transfer): A withdrawal from a wallet or exchange (counterpart of "[In] General Deposit (Transfer)" transaction). More information and step-by-step instructions: Entering Deposits, Withdrawals, and Transfers Between Exchanges / Wallets
7. [Out] Spend: Expenses or payments for good or services (counterpart of "[In] Income" transaction).
8. [Out] Donation (Registered Charity): If you make an official donation.
9. [Out] Gift: If you send a gift to someone (counterpart of "[In] Gift / Tip" transaction).
10. [Out] Stolen / Hacked / Fraud: Coins which you do not own anymore for some reasons e.g. scams, wallet hacks, fraud.
11. [Out] Lost: Coins which could be seen as lost e.g. delistings, exchanges down, also: fees that can not be entered within a trade (more Information: BNB balance wrong due to fees not being deducted).
12. Transfer: Creates two transactions - one "[In] General Deposit (Transfer)" and one "[Out] General Withdrawal (Transfer)" - in one entry (more information and step-by-step instructions: Difference between "Transfer" and "Deposit/Withdrawal").
Deposits (2.) and withdrawals (6.) do not have a cost basis as they are considered movements of existing coins between wallets or exchanges. They are also not part of the tax return data.
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