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Website: Updated for Raccoin 0.2 release
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--- | ||
layout: post | ||
title: "Raccoin 0.2 – Tax Reporting That Works for Me" | ||
author: Thorbjørn Lindeijer | ||
date: 2024-01-04 | ||
categories: release | ||
image: /screenshots/social-share.png | ||
--- | ||
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Two weeks ago I've finally sent in my tax documents, giving the tax authorities | ||
their requested overview of 10 years of mostly misguided crypto trading history. | ||
In the two months since the [initial release of Raccoin]({{ site.baseurl }}{% | ||
post_url 2023-10-26-raccoin-0-1 %}) I've made many necessary improvements and | ||
fixes. Today I'm sharing these improvements with you! | ||
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## More Convenient Interface | ||
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Raccoin will now automatically restore the previously open portfolio. To close | ||
it or switch to a different portfolio, simply click the new "Close" or "Load" | ||
buttons. To export all available reports at once, you can now click the new | ||
"Export All" button. | ||
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A few common buttons now have icons instead or in addition to their text. Adding | ||
a new wallet can now be triggered by pressing <kbd>Enter</kbd> in the name | ||
field. | ||
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![New Reports Summary](/screenshots/raccoin-0.2-new-summary.png) | ||
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The long-term and short-term capital losses are now displayed separately on the | ||
"Reports" page. This is relevant in countries where only short-term losses can | ||
be subtracted from short-term gains (like Germany). | ||
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## Transaction Filters and Navigation | ||
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To make it easier to see the capital gain warnings when you have a lot of | ||
transactions, a new filter button was added to show only those transactions that | ||
triggered warnings (for example when there was not enough balance, or the cost | ||
base is unknown). A text input was also added, which currently allows you to | ||
filter transactions by their description or hash. | ||
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![New Filters](/screenshots/raccoin-0.2-new-filters.png) | ||
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It was already possible to filter transactions by currency by clicking the | ||
currency on the Portfolio page. Since only those currencies you are currently | ||
holding show up there, it is now also possible to click the currencies on the | ||
Reports page. | ||
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Finally, to aid with understanding capital gain events, the "Bought" and "Sold" | ||
columns on the Reports page are now clickable to jump to the relevant | ||
transaction. | ||
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## New Transaction Types and Processing Enhancements | ||
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### Transaction Types | ||
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Raccoin now supports "lost", "stolen" and "burn" transactions. These are | ||
currently all treated as a trade with the sale price being zero, though note | ||
that this might not be correct in your tax region. | ||
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There is now also support for a "swap" transaction. This can be used to swap one | ||
currency for another without triggering a capital gain event. It can be used | ||
when a currency was renamed, wrapped / unwrapped, redenominated, etc. The new | ||
currency inherits the cost base and purchase date of the original one. It is | ||
used for 1INCH / st1INCH swaps when importing an Ethereum wallet. | ||
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### Transaction Processing | ||
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Trades done via intermediate currencies can now be merged when the amount | ||
matches up exactly and they happen within 5 minutes of each other. For example | ||
when trading BCH to BTC and then BTC to XLM, it is treated as a BCH to XLM | ||
trade. This is because such a trade is often only done for technical reasons and | ||
it can be useful to not consider it a BTC disposal event. It also helps avoid | ||
missing fiat values for intermediate assets used in Stellar blockchain's [path | ||
payments](https://developers.stellar.org/docs/encyclopedia/path-payments). | ||
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Merging of partial trades was improved by also sorting transactions by fee | ||
currency, which can vary for a single trade (observed on Binance). | ||
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Trade fees are now taken into account for calculating the cost base, when the | ||
outgoing currency matches the fee currency. In other cases, trade fees now count | ||
towards the short term cost (I'm not entirely sure if this is correct). | ||
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The handling of fees on transactions that are ignored because of their currency | ||
was fixed, in the case where the fee currency is not ignored. | ||
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The Bitcoin price history shipping with the app was updated. | ||
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## New CSV Formats and Other Import Improvements | ||
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Support was added for importing CSV files exported from the (bankrupt) | ||
[Liquid](https://www.liquid.com/) and [FTX](https://ftx.com/) exchanges. It is | ||
also now possible to import transactions from [Trezor Suite's JSON | ||
export](https://docs.trezor.io/trezor-suite/features/transactions/export.html), | ||
in addition to the CSV format (though not yet through the UI). | ||
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Raccoin now supports more variations of the Poloniex CSV export, and the | ||
accuracy was improved (fee amounts in the CSV export needed to be cut to 8 | ||
decimal places). Also, BCH withdrawals in Bittrex CSV files now get assigned a | ||
0.001 BCH fee. ETH deposits to Bittrex can now get merged as transfers. The | ||
Binance CSV import now understands "Fiat Withdraw" in addition to "Fiat | ||
Withdrawal". | ||
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The AQUA, 1INCH and FTT currencies are now recognized. Block explorer links were | ||
added for Dash, Monero and Ripple transactions. | ||
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The Stellar account import was improved to recognize USDC and AQUA assets and to | ||
mark small amounts of incoming XLM as spam. | ||
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### Bitcoin, Ethereum and Stellar Sync Improvements | ||
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The main improvement for synchronizing wallets is that it is now asynchroneous, | ||
no longer blocking the UI. In addition, an issue causing the application to lock | ||
up indefinitely during syncing was fixed. There is however still room for | ||
improvement. UI feedback during sync is missing and it is still not possible to | ||
add wallets through the UI. | ||
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Ethereum address import now recognizes token trades and the fee calculation was | ||
fixed. | ||
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The Bitcoin x/y/zpub import was improved to continue scanning for more addresses | ||
(now skipping up to 10 rather than up to 3 unused addresses), in order to not | ||
miss some transactions. | ||
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## Enhanced Exports | ||
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The new summary displayed on the "Reports" page is now also present in the | ||
"Report Summary" CSV export. | ||
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An additional CSV file is now exported when using the "Export All" action, with | ||
the yearly data relevant for tax reporting in Germany. | ||
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## Misc UI Improvements | ||
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A button was added to ignore a currency to the Portfolio page. To remove an | ||
ignored currency the portfolio file still needs to be edited manually. | ||
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UI accessibility is disabled for now, due to [performance | ||
issues](https://github.com/slint-ui/slint/issues/3867). | ||
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Fixed switching to "Portfolio" page each time a change is made. | ||
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Fixed timestamps to use local timezone in UI and CSV export, rather than UTC and | ||
Europe/Berlin respectively. | ||
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Updated to [Slint](https://slint.dev/) 1.3.2. This changed the scrollbars to | ||
overlay style and the margins have been adjusted accordingly. | ||
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# A Look Ahead | ||
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With my tax reporting needs being met for now, development of Raccoin is | ||
expected to slow down. I am still planning to add a few more features, most | ||
importantly the UI to add wallets and dynamic downloading of price history, but | ||
I am not sure when I will get to them. | ||
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I do however intend to actively maintain this software, respond to questions and | ||
review contributions. If it looks like Raccoin would suit your needs, but you're | ||
running into an issue with it, feel free to [open an | ||
issue](https://github.com/bjorn/raccoin/issues)! |
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