On Mon, Jan 18, 2021 at 7:23 PM Ghanashyam Prabhu <[email protected]> wrote:
> 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? > What precisely do you mean by "track"? Tell us what you need to do. > Also is there a way I can automatically calculate short term and long term > capital gains that could have resulted from this transaction? > All the data is there, but you have to write scripts. e.g. https://github.com/beancount/beanlabs/blob/master/beanlabs/washsales/list-wash-sales.py BTW, this will be much easier in the next version because I'm going to add a way to easily extract "trades" with incoming and outgoing postings matched up. > > 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)? > No. You entered this wrong. It should be: 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 + 256.52 USD Income:Crypto:Capital-gains -256.52 USD The number from the second leg is something you should be able to import from your account/institution, and in practice you'd write it like this (same numbers): 2020-11-26 * "Coinbase" "Sell BTC at Coinbase" Assets:US:Crypto:Coinbase:BTC -0.22712412 BTC {} @ 16539.50 USD Assets:US:Crypto:Coinbase:Cash 3756.52 USD Income: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 > Capital-gains is never an Assets account. Those two transactions make no sense to me. Just record it like the second one I suggest and it all just works out. Remember: you record what's actually happening in the accounts. > > 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 > > -- > 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 [email protected]. > To view this discussion on the web visit > https://groups.google.com/d/msgid/beancount/df24be66-a890-4c87-bbca-e8c3afdfa532n%40googlegroups.com > <https://groups.google.com/d/msgid/beancount/df24be66-a890-4c87-bbca-e8c3afdfa532n%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 [email protected]. To view this discussion on the web visit https://groups.google.com/d/msgid/beancount/CAK21%2BhOMVm692ex7nb_f8_UwU-mjXZZD5Sf9GMCQYxhitWBxtA%40mail.gmail.com.
