Date and value of ICO transactions in tax report

Hi,

last year I participated in an ICO, where I spent 500 USDC on April 13 and received the tokens on May 31. I imported the transactions and classified them as ICO, and when I log into Accointing it shows up correctly with an acquisition date of April 13.

In my tax report, the acquisition date is shown as May 31, and the acquisition price is based on that date as well.

My questions are:

  • Shouldn’t somehow the 500 USDC be used as a basis for the acquisition price? The price on the market both on April 13 as well as May 31 was a lot higher than what I paid through the ICO. In your taxation of transactions explanation it only says that the “buy information” is relevant, but it is not specified whether that means the value of tokens used for the purchase, or value of the purchased tokens at time of receiving them (https://hub.accointing.com/crypto-tax-regulations/germany/germany-cryptotax-classifications).
  • Why does the tax report not also correctly show April 13 as the acquisition date as well? Based on what I had read I thought this was the correct way.

I hope my questions are clear. I would be very thankful for a response!

Edit: It seems to have been a bug, because I unclassified and reclassified the transaction just a few minutes ago, and now the cost basis has changed and is close to the euro value of the 500 USDC I paid. The question of the date still remains :slight_smile:

Thank you very much, seems that your issue is resolved now?

I will keep this is mind and see if any other user has this error :slight_smile:

The date in the tax report is still not correct, as it shows May 31 as purchase date instead of April 13.

As it is shown correctly online in the wallet I expect it to somehow be an issue of the report and not a general one. Luckily in this case it is not relevant for me personally, as I realised the gains before the 1 year holding period either way.

Would you be willing to send us your data so that we can take a deeper look into this? If so, Submit a request here :slight_smile:

In the form please also leave a link to this post so that we have background context :slight_smile:
The reason we ask for your data is that we do not see your data, whatever you put in your Accointing account, is encrypted.

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