Transaction Types

Transaction types are how CoinTracker classifies transactions imported, synced, or manually added to your account. You can see the type listed in the "Transaction" column of the Transactions page.

Definitions and Tax Impact

Send

Tax Impact:

• No tag
  • capital gain calculation
  • CoinTracker assumes you made a payment or in some way disposed your crypt
  • Included in other capital gains in the Tax Center
• Donation
  • no capital gain calculation
  • CoinTracker does not calculate the donation deduction
• Gift
  • no capital gain calculation
  • CoinTracker shows the FMV (fair market value) of the gift in the Tax Center
• Lost
  • no capital gain calculation
  • CoinTracker shows the cost basis of the lost crypto but it does not get reported anywhere else.
  • Included in other capital gains in the Tax Center
• Margin fee
  • capital gain calculation
  • FMV (fair market value) when it is disposed of will be included in margin fees in the Tax Center
  • the capital gain or loss is in the Capital Gains CSV file available in Tax Center > Tax Reports
• Margin loss
  • taxable event
  • can be found in the Net Futures Gains in Tax Center.

Receive

Tax Impact:

• No tag - Taxable event (to be reported and shown as Other Income in the tax center)
• Airdrop - Taxable event
• Fork - Taxable event
• Interest - Taxable event
• Margin gain - Taxable event (Net Futures Gains in Tax Center)
• Mining reward - Taxable event
• Payment - Taxable event
• Staking reward - Taxable event
• Other income - Taxable event

Buy

When you use fiat currency to acquire cryptocurrency, it is considered a Buy transaction.

Tax Impact: There are no tax implications for a Buy transaction until you dispose of the cryptocurrency.

Sell

When you dispose of cryptocurrency for fiat currency, it is considered a Sell transaction.

Tax Impact: The capital gain calculation is included with other capital gains in the tax center.

Trade

When you dispose of one type of cryptocurrency to acquire another type of cryptocurrency, it is considered a Trade transaction.

Tax Impact: The capital gain calculation is included in crypto-to-crypto in the tax center.

Transfer

When you move cryptocurrency from one wallet you own to another wallet you own, it is considered a Transfer transaction.

Tax Impact: A capital gains calculation will be done on the fee disposition only. The cost basis of the crypto moved from one wallet to another will include the amount realized.

Ignored transactions

Tax Impact: Transaction will be excluded from tax calculations.

It's important to note that the tax implications of transactions can be complex and vary depending on various factors, such as your tax jurisdiction, the nature of the transaction, and the amount involved. CoinTracker calculates your tax liability based on the transaction types, tags and other factors. As always, it is a good idea to consult a tax professional for tax advice specific to your situation.