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Code Issues Releases Wiki Activity

Improved formatting and readability.

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scoobybejesus 2019-10-05 21:14:45 -04:00
parent c553464423
commit 930bfc1f8a
1 changed files with 14 additions and 7 deletions
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InputFile_CSV.md
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@ -34,18 +34,22 @@ Some account reports reflect *all* movements in *every* lot in *every* account,
After the reports have been printed/exported, the software stops running and the memory is abandoned/cleared. After the reports have been printed/exported, the software stops running and the memory is abandoned/cleared.
Once the software has run, you rely on the reports to tell you everything you need to know. Once the software has run, you rely on the reports to tell you everything you need to know.
Keep in mind that aggregating one's entire crypto history is very important! ### Why should I go to the trouble?
Cryptocurrency users **cannot** rely on exchanges to provide them with gain/loss information.
At most, an exchange will be able to provide the gross value of their transactions (what `cryptools` calls `proceeds`).
Think about this: exchanges have **no way** to track the cost basis of their users' holdings, Think about this: exchanges have **no way** to track the cost basis of their users' holdings,
nor can they verify how the funds they disburse are used. nor can they verify how the funds they disburse are used.
Consequently, exchanges will treat all trades and all disbursements as pure (taxable) gains. At most, an exchange will be able to provide the gross value of their transactions (what `cryptools` calls `proceeds`).
If exchanges provide a user's trading activity to the IRS, for example, gross value is all they can provide.
Consequently, unless you prove otherwise, the IRS will assume all trades and all disbursements are taxable income/gains.
With that in mind, aggregating one's entire crypto history is very important!
Cryptocurrency users **cannot** rely on exchanges to provide them (or the IRS) with gain/loss information.
This means it is **up to users** to keep track of their cost basis.
This means it is **up to users** to keep track of their cost basis!
By aggregating all your cryptocurrency activity, this software enables you to track **and prove** your cost basis. By aggregating all your cryptocurrency activity, this software enables you to track **and prove** your cost basis.
Using these reports, you can walk back in time to track the cost basis used in every gain/loss calculation. Using these reports, you can walk back in time to track the cost basis used in every gain/loss calculation.
(If you paid cash for any cryptos, proof becomes much more difficult, but at least you have an otherwise complete ledger.) (If you paid cash for any cryptos, proof becomes much more difficult, but at least you have an otherwise complete ledger.)
The hurdle, of course, is preparing the input file.
### A final note before digging in ### A final note before digging in
@ -67,6 +71,9 @@ It is **required** in order to properly calculate income/expense/gain/loss.
4. Proceeds must have a period as a decimal separator (1,000.00 not 1.000,00) and must not contain the ticker or symbol (USD or $). 4. Proceeds must have a period as a decimal separator (1,000.00 not 1.000,00) and must not contain the ticker or symbol (USD or $).
5. Only home currency accounts can have negative balances. Crypto accounts may not go negative at any time. 5. Only home currency accounts can have negative balances. Crypto accounts may not go negative at any time.
As you can see, most of the rules can generally be ignored.
In fact, the only tricky field is the `proceeds` column, but even that becomes second nature soon enough.
Keep an eye out for a related project that creates input file pro formas from exchange reports, thus automating some of the process. Keep an eye out for a related project that creates input file pro formas from exchange reports, thus automating some of the process.
## Visual representation ## Visual representation
@ -94,7 +101,7 @@ In order to be successfully imported, the CSV input file **must** be in a prescr
--- ---
#### CSV file components - What they are ### CSV file components - What they are
##### Columns ##### Columns
@ -177,7 +184,7 @@ These transactions are oversimplified on purpose.
For example, a loss will not be recorded until "spot" holdings are used to pay off loans. For example, a loss will not be recorded until "spot" holdings are used to pay off loans.
Until "spot" funds are spent to pay off the margin loans, it's simply an [unrecorded] unrealized loss. Until "spot" funds are spent to pay off the margin loans, it's simply an [unrecorded] unrealized loss.
#### CSV file components - Data types, restrictions, and important points ### CSV file components - Data types, restrictions, and important points
##### Columns ##### Columns