Change "Swap" Classification To "Order" Type

Continuing the discussion from Same Line Swaps:

The swap transactions should work similarly to the internal ones.

For internal transactions, the review process looks for an open ended “withdraw” and “deposit” for the same timestamp and amount, then changes those two transactions into a single “internal” one.

the idea here is that the review process will also look for potential swaps in a similar way. It should look for an open ended “withdraw” and “deposit” in the same wallet and timestamp, then change those two transactions into a single “Order” one.

If this was implemented it would make the transactions easier to read and follow.

Hey! Thanks for the feedback! In ACCOINTING.com, we work based on a voting mechanism: the more upvotes your feature requests has, the faster it moves in our development pipeline. Hopefully, you’ll get enough upvotes from this community to have it implemented. I’m rooting for you!

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Totally agree, the current set up doesn’t work as you can’t link the withdraw and deposit together, so my portfolio performance page (and thus my taxes will be) totally wrong. Can’t upvote this because of the ridiculous 4 vote limit, but please guys, get this fixed and working correctly soon.

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Hi, similarly I have an executed limit order on binance that shows up as an uncorrelated deposit/withdraw. Would be great to be able link this up.

Can we get more info and screenshots of this? Like which wallet/exchange you used. How is the wallet/exchange connected, via API or manual?

Indeed, it would be a good thing if DeFi swaps (Uniswap, 1inch, etc.) could be connected to each other somehow into one order. It’s crucial for calculating taxable profits. Even if there would be a function to link swaps together manually, it would help significantly.

I think there is some confusion.
This feature request is talking about the SWAP classification and to make it easily to convert that classification into an order classification.

The Defi swaps are already connected with your tracker wallet address on Accointing.

Anyway, I agree with OP.

@Matt
Is it true that swaps aren’t recognized as orders, as @ianrobbo10 suggests, when creating a tax report?

Here is the breakdown of classifications: Crypto Tax Classifications : Accointing AG
Here is how you are taxed per classification: You searched for classifications - ACCOINTING.com The Hub - Cryptocurrency Portfolio Tracking & Tax Software

Thanks for your help, Matt. If it really isn’t necessary to replace two belonging Swap transactions with a single Order-type transaction for correct tax calculation, that would be good. I just want be sure because ianrobbo10’s comment gave me concern.

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Looking at the articles above, I believe a swap and order classification would create the same taxes.

Thank you. I just tested it, i.e. replacing two swap transaction with an order one, and it really doesn’t make a difference on taxes, whether you have two belonging swap transactions or one order transaction. It only messes with the calculation if both belonging swap transactions aren’t classified as “Swap”, of course. Maybe ianrobbo10 has the same problem like tron42.

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Continuing from my last post, I have to state that I changed my mind. The way DeFi swaps currently are handled is good as it is, IMO.

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Thanks for it.
I wanted to add something.
If you’re in a Pool, maybe in manual CAKE Pool at PanCakeSwap. Every time you add more of Cake to your staked Cake, then the “harvest” function is called. And this looks like a swap at the Transaction.
So automate it to a order in accointing is not a good idea. The first is staking reward and the second is just a withdraw (from your wallet) that could be tracked via “Fake Wallet”.

What suggestion would you like to see in order to better solve this situation?

I would suggest with the current platform, to ignore the transactions and manually add them in a way that makes more sense. Accointing is just reading the API.

Liquidity Pools: below is a link to a blog post about the topic, staking pools would be handled the same way as liquidity pools. How to Import Liquidity Pool Transactions to ACCOINTING.com - ACCOINTING.com The Hub - Cryptocurrency Portfolio Tracking & Tax Software
Some Staking Articles in The Hub: You searched for staking - ACCOINTING.com The Hub - Cryptocurrency Portfolio Tracking & Tax Software