After fixing all invalid transactions, if the number of coins in Cryptact still does not match the actual number of coins you own and you have no idea why, one way to adjust the coin position in Cryptact is by uploading a custom file as described in this article.
These are just some examples of how to adjust your coin position. Please consult your local tax office on how the position should be adjusted and what methods are acceptable.
[PLEASE ALSO NOTE]
- If "Invalid transactions" occur, please first review the "Correcting invalid transactions - README too!" before referring to this help page. Be sure to resolve the "Invalid transactions" first.
- After resolving the "Invalid transactions," check the "What to do when coin positions do not match after fixing invalid transactions?" If, even after that, you cannot determine the cause, please refer to the instructions on this help page for balance adjustment.
- The determination of the transaction date is at your discretion. If you are unsure about the specific date to use for uploading, you can set the date to the end of the fiscal year. However, there are no specific rules; it depends on your judgment.
1. The number of coins in Cryptact > the actual number of coins you own
(1)How to reduce the coin position without affecting the PNL
Set "Action" to "REDUCE", and "Price" to blank (refer to custom file example 2.14).
| Timestamp | Action | Source | Base | Volume | Price | Counter | Fee | FeeCcy |
|---|---|---|---|---|---|---|---|---|
| Transaction datetime | REDUCE | Any | USDT | 2 | *1 | JPY | 0 | JPY |
*1 Please leave the price as blank.
(2)How to reduce the coin position and report the book value as a loss
Set "Action" to "LOSS", and "Price" to 0 (refer to custom file example 2.13).
|
Timestamp |
Action |
Source |
Base |
Volume |
Price |
Counter |
Fee |
FeeCcy |
|---|---|---|---|---|---|---|---|---|
|
Transaction datetime |
LOSS |
Any |
USDT |
2 |
*1 |
JPY |
0 |
JPY |
*1 Please leave the price as blank.
Since this approach generates a loss, for tax purposes, it may be considered non-conservative. This approach may be applicable in a scenario where the nature of the transaction is known although the detail is unknown, for example, you know the missing transaction is something that can be expensed.
(3)How to sell off the position as of a given date/time and generate a PNL
Set "Action" to "SELL", and "Price" to blank (*).
| Timestamp | Action | Source | Base | Volume | Price | Counter | Fee | FeeCcy |
|---|---|---|---|---|---|---|---|---|
| Transaction datetime |
SELL |
Any | USDT | 2 | JPY | 0 | JPY |
If the coin in question was in existence and was traded between 2018 and 2022, it may have a significant PNL impact if you were to sell the position off in a single year. In this case, you may consider splitting it and selling it over 4 years.
(*) If you leave the "Price" column as blank and input fiat currency (JPY, USD, etc) in the "Counter" column, Cryptact will look up the price automatically, provided that it has the price data for the "Base". To find out if Cryptact has the price data for a specific coin, please refer here.
(*) If Cryptact does not have the price data for the "Base", please use a Custom Coin as the "Base", find out the market price yourself and input it as the "Price".
2. The number of coins in Cryptact < the actual number of coins you own
(1)How to increase the position and report it as a profit based on the market price as of the transaction date/time
Set "Action" to "BONUS", and "Price" to blank (*) to increase the position.
| Timestamp | Action | Source | Base | Volume | Price | Counter | Fee | FeeCcy |
|---|---|---|---|---|---|---|---|---|
| Transaction datetime | BONUS | Any | USDT | 2 | JPY | 0 | JPY |
A "BONUS" transaction is processed as a profit based on the market price as of the transaction date/time. If the price fluctuates significantly during the year, depending on what you input as the transaction date/time, the PNL may differ significantly. If the volume is big, similar to 1-3 above, you may consider splitting it and buying it over several months.
(*) If you leave the "Price" column as blank and input fiat currency (JPY, USD, etc) in the "Counter" column, Cryptact will look up the price automatically, provided that it has the price data for the "Base". To find out if Cryptact has the price data for a specific coin, please refer here.
(*) If Cryptact does not have the price data for the "Base", please use a Custom Coin as the "Base", find out the market price yourself and input it as the "Price".
(2)How to increase the position by buying it at the market price as of the transaction date/time
Set "Action" to "BUY", and "Price" to blank (*) to increase the position.
| Timestamp | Action | Source | Base | Volume | Price | Counter | Fee | FeeCcy |
|---|---|---|---|---|---|---|---|---|
| Transaction datetime |
BUY |
Any | USDT | 2 | JPY | 0 | JPY |
This is processed as a buy transaction at the market price as of the transaction date/time. You may consider taking this approach if you know the missing transaction is a buy transaction even though the detail is unknown.
(*) If you leave the "Price" column as blank and input fiat currency (JPY, USD, etc) in the "Counter" column, Cryptact will look up the price automatically, provided that it has the price data for the "Base". To find out if Cryptact has the price data for a specific coin, please refer here.
(*) If Cryptact does not have the price data for the "Base", please use a Custom Coin as the "Base", find out the market price yourself and input it as the "Price".
PNL calculation for each transaction type