Missing Classifications

Hi Support,

there are actually missing a few classifications in my view:

When I get back my my money from a lending platform like compound I have to split the deposit. One is income and the other one is what? If it is unclassified it is reported as taxfree income in the german tax report but that’s of cours actually not the case. It is the same thing when it comes to staking. You have on the one hand staking reward and whats the second thing? This has the additional problem that the unclassified deposit is prolonging the period where I have to hold my staked cryptocurrency as in Germany it is tax free after a year.
The same thing is also a problem with Liquidity Pooling when getting it back from the pool. Could you please add some classifications to get it done right?

Hi @Metamusk! Thank you for your feedback. We have a video here about staking and how we came up with our classifications: https://youtu.be/v4znJluRTZQ

For Lending, you have 2 classifications:
image image

For Staking, let me try to get back to you on the best way to go about it. Currently the law is quite blurry in regards to staking and there are no clear guidelines.

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Thanks a lot for your quick reply and for the helpful video!

I understand, that for example staking is very blurry regarding taxation. But I think it would be very helpful, that one could connect the withdrawal and the depositing somehow, so that it is clear that I owned this cryptocurrency all the time.

This would be especially helpful for the one year retention time in the German tax law.
I learned from a tax lawyer (which is actually in the video :D) that if this one year retention period is over, this period couldn’t get prolonged afterwards. But in the case of Accointing, when I get it back from staking, the taxable period is again one year (and could get prolonged to ten years by the tax authority).

For Lending, the same thing would be great as the taxable period is also a problem as mentioned above. Although in my case the problem with lending is only cosmetically, as the tax authority could get suspicious due to my “taxfree income” ;).

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Hi @Metamusk. Thank you for the feedback. I will send it to product to see if there’s anything we can do about that.

Hi @Rod , are there any news if and when such a feature become available? I’m not really in a hurry but it would be good to know if I can finish my tax report with accointing or if I have to do it manually.

Hey! No new yet. I know it’s in the pipeline, but there’s no specific ETA. Once I have more details, I will get back to you on this.

@WINHELLER do you think you can help out @Metamusk with this query please?