How to handle certain transactions

I am attempting to upload transactions manually from Terra Luna using stake.tax.

It currently does not support every transaction for the accointing file because certain classifications are not available.

How would I handle these transaction types or classifications? They are all related to Anchor protocol:

  1. Depositing collateral (bLUNA)
  2. Withdrawing collateral (bLUNA)
  3. Staking ANC
  4. Borrowing an Asset (UST)
  5. Repaying an Asset (UST)

Depositing and Withdrawing UST to earn interest currently seems to be supported by making orders from UST to AUST and vise versa. Hopefully that is correct.

At this time if there are any holes in the stake.tax software, that would need to be filled in manually in the full data set.
As for the classifications please see this:

Here is the breakdown of classifications: https://support.accointing.com/en/support/solutions/articles/48001146934-classifications
Here is how you are taxed per classification: https://www.accointing.com/the-hub/?s=classifications&id=3300&post_type=post

As for lending,

So this is a weird case as the laws are not specific in this area, though I am unsure of your country as well. Therefore it is up to the user to classify as they want depending on how they chose to treat this kind of transaction. For example, with loans, the collateral should not be taxable, therefore, it should be an internal transfer as if it was staking, but the keyword is should. if someone wants to be super conservative they could do it as a trade. Similar to a LP, you can treat as a deposit or taxable event, or as if you are staking.

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Here is a video I made on staking if you prefer to see a video formate on staking :stuck_out_tongue:

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Thank you for the responses. They definitely helped a lot. I believe I know understand the workflow for:

  1. Staking - Making a staking wallet and doing internal transactions with one transaction at the end being staking income classified deposit for the difference between start number and end number.
  2. Collateral - Making a collateral wallet and doing internal transactions with one transaction at the end being lending income classified deposit for the difference between start number and end number.

But I still don’t understand how to make a manual transaction for borrowing and returning crypto. Would it be as simple as an add funds / remove funds in another fake wallet? With internal transactions between the fake wallet and my real wallet?

The video he posted should help :slight_smile:
To create a new wallet, click add wallet and type in ‘staking’ or whatever you want to call it, and select the only option that appears, this option is only available when the search does not return with any supported exchanges.
The go-to your Full Data Set, and in the top left you can click “New”.

The video helped a lot in understand the multi wallet approach. However it only went over staking. I feel like the same can be applied to collateral but possibly not borrowing.

In my previous reply I posted a question about how transactions should look when borrowing and returning crypto. But I wasn’t sure if it made sense. One of the issues with it would be that my portfolio value would be double what it really is.

I thought that using add funds and remove funds maybe made sense here because I don’t see any deposit or withdrawal classification that is related to borrowing. Unlike (staking income, lending income).

So the previous question remains. What does manual borrowing and returning crypto transactions look like? I understand staking and collateral transactions but not borrowing.

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I got the answer from support. Here is what they suggest:

You can create a manual “lending” Wallet and send the collateral to it via internal transaction, so those funds won’t show up on your “main” wallet.
Afterwards add the deposit of your borrowed coins as “add funds” to the lending wallet and transfer those as an internal transaction to your main wallet as well.

Once you paid back your borrowed coins and received the collateral you can reverse this process. (Collateral back to your main wallet and withdrawal of the borrowed funds as “remove funds”.

It lines up pretty well with what I was thinking.

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