Asset Maturity needs to indicate accounts (wallets)
A
Allied Pigeon
I like the new asset maturity feature, but it's somewhat useless when working with multiple accounts that hold the same asset. For example, I have 2 BTC accounts where one of them contains the long term capital gains assets. I want to sell some BTC from the account that has the long term capital gains. Currently, it doesn't help me figure out which account I should be selling from.
X
Xeric grey Wolverine
It doesn't make practical sense that it's not broken down by portfolios. This should be enhanced.
Jack
Merged in a post:
Wallets no showing
P
Plastic Hornet
The interface is not showing wallets as separate entities. A pooled display of an asset's long/short term holding (let's say BTC for example) has no practical value without knowing exactly how much BTC in each specific wallet is available at long/short term status.
I'm assuming this is a bug since that would be a sad commentary on Koinly's understanding of tax strategy if this is intentional.
Jack
Merged in a post:
Does not show data for individual wallets
P
Plastic Hornet
ALL USA citizens (along with those who choose "wallet based tracking) need to see our asset maturity broken down by wallet (not just coin type). Without this the data is useless as we have no way to know from which wallet we need to sell our asset in order to capture Long Term vs Short Term gains.
Jack
Merged in a post:
TAX OPTIMIATION & ASSET MATURITY require separate wallet data.
P
Plastic Hornet
Without the ability to break the data into individual wallets this serves no purpose for anyone using "wallet based tax tracking" (as required for all USA citizens).
USA taxes treat each wallet as a separate entity and thus losses and gains occur separately between wallets.
Examples:
1) Showing me that I have a $5,000 loss on BTC that I can use for tax harvesting means nothing without knowing how much BTC within each wallet I own is at a loss.
2) showing me that I have $5,000 in "long term gains" and $2,000 in "short term gains" is of no value UNLESS the data tells me how much long/short gains are available to sell WITHIN EACH SEPERATE WALLET.
I'm at a loss how Koinly would even put these services on their website without this feature, as this is an obvious requirement for any person (from any country) that uses "wallet based tracking".
Jack
Merged in a post:
Asset Maturity Dashboard - Need to be able to drill down within a token
E
Elated Panda
The new beta version of "Asset Maturity" is really nice. Thanks!!! However, now that US citizens are required to use wallet based cost basis tracking going forward, the dashboard AS IS doesn't totally give us the information we need.
Let's say I own XRP across 4 different wallets. If I want to sell 3,000 XRP tokens and make sure I only pay Long-term Capital Gains Tax, I need to know which wallets hold those coins. Currently, there is no way to know in Koinly (see screen shot below).
Please add on a feature that allows users to click on a token and have a new window open that shows the same short-term and long-term gain info broken out by each wallet location. Then I could easily go into the appropriate wallet and execute my sell transaction.
Jack
Merged in a post:
Asset Maturity by Wallet
O
Opposite Possum
would it be possible to give the option to split this functionality by Wallet? in many legislations FIFO by Wallet applies not FIFO per owner.
Thanks
Jack
Merged in a post:
Asset Maturity feature requires INDIVIDUAL WALLET data.
P
Plastic Hornet
As tax laws require wallet by wallet tracking, any attempt to sell "longterm" vs "shorterm" assets requires knowing which wallets AND which transaction IDs are currently long term or some other way to ensure we are selling the "specific" crypto that reached maturity.
Your charts don't show any of this,,, thus making it utterly useless as a means to legally sell off targeted long terms assets. All it does is let me know I have some long term assets somewhere,,,,, "go figure it out yourself and good luck".
Q
Quince Swordfish
Yes, need a fix, please
P
Plastic Hornet
It's not just helpful it is required else this feature is completely useless.
P
Plastic Hornet
This should not even need to be requested. The entire "asset maturity" tools is useless without getting the information on a wallet basis. Telling me I can sell "x" amount of BTC at long term cap gains means nothing If I'm not told exactly how much BTC from each wallet I manage.
Remember USA requires Wallet Based Tracking so we cannot just sell "x" and say it was all long term blocks. We have to cherry pick each block amount from each wallet.
Load More
→