I am currently maintaining a beancount ledger file for tracking my crypto
transactions and I'd like to seek advice on the workflow especially when
recording capital gains from these transactions. Below is an example.
Let's say I accumulated some BTC at some cost basis of 3500 and have a
capital gain of 256.52$ from this transaction below. This transaction
resulted in a total cash of $3756.53 which got deposited in my Coinbase
account. What is the recommendation to track the capital gains correctly?
Also is there a way I can automatically calculate short term and long term
capital gains that could have resulted from this transaction?
I currently plan to add the below
2020-11-26 * "Coinbase" "Sell BTC at Coinbase"
Assets:US:Crypto:Coinbase:BTC -0.22712412 BTC {} @ 16539.50 USD
Assets:US:Crypto:Coinbase:Cash 3500.00 USD
Income:Crypto:Capital-gains 256.52 USD
After this sell, I re-invested all of this cash of $3756.52 again to buy
BTC again a few days later. At this point should I split the transaction to
use the Cash of 3500 from Coinbase account and use a fresh $256.52 deducted
from a different account (other than Crypto:Capital-gains)?
I think I should be using $252.56 from a different account since using it
from the Capital-gains account will reduce my actual Capital-gains to 0
i.e. which is incorrect. On the other hand, using money from a different
account is also incorrect since I re-used the money from total cash
generated by the Sell transaction.
Option 1 (this seems incorrect)
2020-11-28 * "Coinbase" "Buy BTC at Coinbase"
Assets:US:Crypto:Coinbase:BTC 0.20778508 BTC {} @ 18078.87 USD
Assets:US:Crypto:Coinbase:Cash -3500.00 USD
Assets:US:BofA:Checking -256.52 USD
Option2 (this seems incorrect since it reduces Capital-gains to zero)
2020-11-28 * "Coinbase" "Buy BTC at Coinbase"
Assets:US:Crypto:Coinbase:BTC 0.20778508 BTC {} @ 18078.87 USD
Assets:US:Crypto:Coinbase:Cash -3500.00 USD
Assets:US:Crypto:Coinbase:Capital-gains -256.52 USD
Please suggest what is a good way to handle this where I'd like to track
Capital Gains at the end of the year for taxation.
Thanks
Ghanashyam
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