This page provides instructions on how to record STEPN (Stepn) transactions using a Custom File.
1．Introduction
For STEPN transactions, off-chain transactions cannot be automatically reflected in cryptact. Therefore, you will need to manually enter these as custom transactions in your transaction history.
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Uploading via Custom File
You can reflect your transaction history by entering the transactions into a Custom File and uploading it.
1.1 Sample files
How to upload a Custom File -
Manually Adding Transactions
If you have only a few transactions (e.g., one or two), you can directly add them.
How to manually add transaction history
*As there are no clear guidelines from the National Tax Agency regarding the calculation of profits and losses for STEPN, please consult with your local tax office or a tax accountant.
* Due to a current system limitation, we are unable to link level-ups with NFTs when payments for level-ups are made via connected wallet addresses. Therefore, please select "Exclude" for the relevant transaction in your DeFi transaction page, and upload it separately using a custom file, following the instructions provided on this help page.
2．How to calculate PNL
The below considers the cryptocurrency paid to level up the NFT as a cost to increase the functionality and the value of the NFT, and processes it as an additional acquisition cost for the NFT concerned.
For example, if you paid 1 ETH to acquire the NFT when 1ETH=300,000JPY, and then paid 1ETH to level up the NFT when 1ETH=350,000JPY, the acquisition cost for this NFT is calculated as 300,000JPY+350,000JPY=650,000JPY.
3．How to create the custom file
Please use "LEVELUP" as the action to upload it as an additional acquisition cost to the NFT expressed in a custom coin.
[PLEASE NOTE!] Please note that the only use case supported for the "LEVELUP" action is for leveling up NFTs. Please do not use it for other purposes.
Example 1-1: You have a NFT represented as custom coin ABC in the ledger. You paid 1ETH to level it up.
| Timestamp | Action | Source | Base | Volume | Price | Counter | Fee | FeeCcy |
|---|---|---|---|---|---|---|---|---|
| Transaction date/time | LEVELUP | Optional | USER-ABC | 1 | Blank | ETH | 0 | JPY |
* The above will be processed as selling the cryptocurrency used (1ETH in this case) at the market value. A separate transaction history that sells 1ETH will be auto-created by the system.
[Please Note!] Asof May-2022, even if the Price column is populated with a price, cryptact processes the LEVELUP incorrectly at 0 JPY. If cryptact does not have the market value for the coin you used for the LEVELUP, please refer to the next example to add the appropriate JPY amount to the acquisition cost.
For the list of coins cryptact has prices for, please refer to here.
Example 1-2: You have a NFT represented as custom coin ABC in the ledger. You used cryptocurrency xxx to level it up and cryptact does not have the market value for xxx. The market value of xxx was 1xxx=1,000JPY.
| Timestamp | Action | Source | Base | Volume | Price | Counter | Fee | FeeCcy |
|---|---|---|---|---|---|---|---|---|
| Transaction date/time | LEVELUP | Optional | USER-ABC | 1000 | Blank | JPY | 0 | JPY |
| Transaction date/time | SELL | Optional | xxx | 1 | 1000 | JPY | 0 | JPY |
Disclaimer
As stated in the Terms of Use, cryptact is not responsible for the calculated pnl. In addition, the information provided here is only a tentative description and does not take into account individual circumstances. cryptact takes no responsibility if the National Tax Agency issues guidance on NFT in the future, which differs from the above. If you have any questions about taxation, please contact your tax advisor.