All of the following is not tax or accounting advice, but simply my understanding. Feedback from other beancounters would be welcome.
I think you have to figure out the USD values yourself, based on your assessment of the FMV. Here's some examples of how I structure exchanges. (Reminder: this is a generated file with fake data) https://github.com/ericaltendorf/magicbeans/blob/master/data/magicbeans_example.beancount#L69 2020-04-10 * "Exchange 1483.9889 USDT for 9.4000 ETH" Assets:Account:ETH 9.4 ETH {158.1869 USD} Assets:Account:USDT -1483.988882235528942115768463 USDT {} @ 1.0020 USD Income:CapGains https://github.com/ericaltendorf/magicbeans/blob/master/data/magicbeans_example.beancount#L101 2020-06-10 * "Exchange 20.0000 ETH for 4943.2960 USDT" Assets:Account:USDT 4943.296022386568059164501299 USDT {1.0006 USD} Assets:Account:ETH -20 ETH {} @ 247.3131 USD Income:CapGains I do this in my importers. For example, the coinbase pro importer, when a transaction has an increase leg, looks up the USD price of the increasing currency: https://github.com/ericaltendorf/magicbeans/blob/master/src/magicbeans/importers/coinbasepro.py#L238 See also the gateio importer: https://github.com/ericaltendorf/magicbeans/blob/master/src/magicbeans/importers/gateio.py#L265 I am sad I never had the time to clean all this up and create an elegant and consistent code path for handling both of these. :( Regarding prices, I wrote my own code for price fetching (rationale in the header of the file): https://github.com/ericaltendorf/magicbeans/blob/master/src/magicbeans/prices.py Then for tax reporting you want to report the value of the proceeds in USD. Take a look at the last entry in the Disposals table on page 5 of the example PDF report: https://github.com/ericaltendorf/magicbeans/blob/master/data/magicbeans_example.pdf There was an exchange, where there was a disposal of 20 ETH and an acquisition of 4943.2960 USDT, but the "proceeds" (i.e., USD value on which taxes might be assessed) was 4946.26 (because 1 USDT ~= 1.0006 USD at the time). hope this helps. i am sorry i haven't had a chance to get back to you on the other thread yet. On Sat, Mar 16, 2024 at 12:45 PM CD <docs...@gmail.com> wrote: > Two random transactions that I created based from an old Poloniex export a > friend gave me... > > 2018-01-03 * "Crypto Buy" "Order number: xxxxxxxxx" > Assets:DGB 5171.00018694 DGB @ 0.00000447 BTC > Assets:BTC -0.02317230 BTC > Expenses:TradingFees 12.95990021 DGB @ 0.00000447 BTC > > 2018-01-08 * "Crypto Sell" "Order number: xxxxxx" > Assets:ETC -13.30376940 ETC @ 0.00225500 BTC > Assets:BTC 0.02995500 BTC > Expenses:TradingFees 0.00004499 BTC > > > Poloniex at the time only had transactions made between different > cryptocurrencies, so there are no USD trades. Everything is priced in one > half of the pair ie BTC/ETC DGB/BTC in the above examples. > > How does one go about making everything into USD in reporting (cost > basis, etc) > > I'm baffled. > > If I set price directives for the different cryptos before each > transaction will that do it? Or am I going about it all wrong? > > There doesn't seem to be a way to do double @ either. So for example I > couldn't do 5171.00018694 DGB @ 0.00000447 BTC @ 21000.00 USD right? > > Is there some way to set up the cost basis in USD in the initial > transaction or using price directives? > > > -- > You received this message because you are subscribed to the Google Groups > "Beancount" group. > To unsubscribe from this group and stop receiving emails from it, send an > email to beancount+unsubscr...@googlegroups.com. > To view this discussion on the web visit > https://groups.google.com/d/msgid/beancount/a537f66b-f03b-4aac-bd50-deda8584a179n%40googlegroups.com > <https://groups.google.com/d/msgid/beancount/a537f66b-f03b-4aac-bd50-deda8584a179n%40googlegroups.com?utm_medium=email&utm_source=footer> > . > -- You received this message because you are subscribed to the Google Groups "Beancount" group. To unsubscribe from this group and stop receiving emails from it, send an email to beancount+unsubscr...@googlegroups.com. To view this discussion on the web visit https://groups.google.com/d/msgid/beancount/CAFXPr0uFyqHRe4We-_mQ%3DtgV9ps5PDLCBh9-_5fhNps0ZDWgvg%40mail.gmail.com.
