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56
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9 comments
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Allow option to transfer between wallets

wallets

Suggested by Cody L. on 11/13/2017

I don't see any feature to transfer coins from one wallet to another one. I find myself having to input it as a sale at the original costs basis, and then input a fee only on the same account and then finally a purchase with my manually calculated cost basis that factors in the fee into the new wallet.
Comments:

  • Glenn W. on 11/24/2017

    I don't understand why you would need to do this. Tax calculations don't care at all which wallet a coin is in.

  • Daniel C. on 12/13/2017

    Having a transfer option allows you document transaction fees.

    If you buy 100 coins on one exchange, transfer to a wallet, then later transfer back to an exchange to sell, you no longer have 100 coins to sell. Your closing position will inaccurately reflect coins lost to transaction fees.

  • Mike on 12/31/2017

    Currently there is another feature request for 'Tx Fees' that is more applicable to your request. There is no real need to record transfers between wallets, only the fees associated with said transfers.

  • DBitB on 01/09/2018

    I think a transfer option, realizing transaction costs, would be helpful to identify what balances are in which wallets/exchanges - to allow for reconciliation of totals.

  • ABRA on 01/15/2018

    This is valid request/vote

  • 200motels on 02/17/2018

    Without a transfer option between exchanges, I must currently treat a transfer as a sale on Bitcoin.tax and, therefore, subject it to capital gains. I must then record the transfer manually on the new exchange as a purchase. This is all necessary in order to reconcile my coin balances. Most importantly, the majority of exchanges I currently use only allow purchases of altcoins with other coinage, i.e., bitcoin, ether, litecoin, etc. Doing a simple transfer should not create a taxable event as currently happens.

  • Jinkleburg on 03/03/2018

    My closing report inaccurately contains the amount of transfer fees I paid this year. The closing report should take transfers into account.

  • RogueDave on 03/10/2018

    I am in agreement with many of the previous comments. While the purpose of the website, that for which I am paying, is to be able generate a Schedule D. Tracking the actual flow of coins, from and between locations, exchanges and wallets, via transfers (deposits & withdrawals) with associated fees would much more accurately reflect the costs applicable to coins and tokens. As coins & tokens are deposited or withdrawn, the value of the remaining coins & tokens then reflect the activity, and so too, the balances on the other exchange. Further, if lower cost coins or tokens were removed from an exchange to cold storage or to a long term storage wallet, and are subsequently brought back on exchange and sold or traded, those lower costs should be reflected, especially if a Long Term Capital Gains rate is appropriate.

  • ryanm on 04/13/2018

    Coinbase pulled out of my state in 2017. I moved my Bitcoin off Coinbase to Jaxx wallet. It seems that when I transfer Bitcoin from Jaxx to an exchange to purchase other cryptocurrencies the current price of Bitcoin and date of acquisition is stated as the date of transfer. Can a feature be added to include transfers to and from wallets where acquisition dates and costs be taken into account. I may be incorrect in this observation but this is what it appears to me. Thank you
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