Recursos/blog/Product update - 22nd June 2022

Product update - 22nd June 2022

UI uplift: Review Transactions page

Our review transactions page has had an uplift, enabling you to see the most important information of each transaction with ease. If you have any feedback for this updated design, don’t hesitate to leave a comment down below.

New transaction categories: Add/Remove Liquidity + Send/Receive LP token

Do you frequently interact with liquidity pools and LP tokens? We have added in the ability to use 2 new transaction categories: Add/Remove Liquidity and Send/Receive LP Token. Both of these new transaction categories are set to have the same tax implications as a buy/sell.

If you are not sure how LP tokens are taxed in your region, please speak to your local tax professional.

New cost basis method: Specific ID by exchange

You can now navigate to the settings page and select whether your cost basis should be tracked universally, or by wallet/exchange. By default, your cost basis will be tracked universally across all wallets and exchanges. This feature is not available for the HMRC and ACB inventory methods.

New Dashboard toggle: Reported + Calculated balances

You are now able to toggle between your “Reported” and “Calculated” balances on the dashboard. Depending on what types of transactions you have made, a different balance type will be more accurate. Below is a summary of the two balance types:

Reported Balance:

Shows a live view of your balances reported by your exchanges and wallets. Balances that are not in your wallets (e.g. staking deposits) will not be shown. Please note that CSV imports, as well as some exchanges and wallets do not support live reporting of balances, and in these cases, the holdings calculated by CTC will be used.

Calculated Balance:

Shows your balances as calculated by CTC, based on your imported wallets and exchanges. This includes holdings from wallets you have not yet imported (e.g. collateral deposits). Accuracy relies on the correct reconciliation of transactions.

Tax toggle: setting “Bridging” as a taxable or non-taxable event

You are now able to toggle whether bridging assets are seen as taxable or not within the tax settings. If you’re unsure about the tax implications of bridging in your region, we recommend getting in touch with a local tax professional.

Minor Changes

Since our last product newsletter, the following minor changes have been implemented:

  • The name of the Borrow category has changed to Loan
  • We have consolidated the two Kucoin imports, into only one Kucoin import
  • We have added support for the new Coinstash CSV format

La información proporcionada en este sitio web es de carácter general y no constituye asesoramiento fiscal, contable o legal. Ha sido elaborado sin tener en cuenta sus objetivos, situación financiera o necesidades. Antes de actuar sobre esta información, debe considerar la idoneidad de la información teniendo en cuenta sus propios objetivos, situación financiera y necesidades y buscar asesoramiento profesional. Cryptotaxcalculator renuncia a todas y cada una de las garantías, compromisos y garantías, expresas o implícitas, y no es responsable de ninguna pérdida o daño (incluidos errores humanos o informáticos, negligencia o de otro tipo, o pérdida o daño incidental o consecuente) que surja de, o en conexión con, cualquier uso o confianza en la información o consejo en este sitio web. El usuario debe aceptar la responsabilidad exclusiva asociada con el uso del material en este sitio, independientemente del propósito para el cual se aplica dicho uso o resultados. La información de este sitio web no reemplaza el asesoramiento de un especialista.

Samara LeMerle

Strategy and Communications Manager

Samara has been working in the crypto industry for the last 3 years and is passionate about helping other crypto users learn about the tax implications of their trading activity.

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