+1
On Mon, Jan 18, 2021 at 7:33 PM Ben Blount <[email protected]> wrote:
> Income accounts are negative. Your transaction 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 3756.53 USD
> Income:Crypto:Capital-gains -256.52 USD
>
> And yes, your next transaction should draw from the cash in the Cash
> account. Please read
> https://beancount.github.io/docs/trading_with_beancount.html
>
>
> On Mon, Jan 18, 2021 at 4:21 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?
>> 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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