Multi Depot and transferring coins

I would like to understand how Accointing handles the case where Multi Depot is used and coins are transferred between accounts.

Say I have two accounts, Account A and Account B. I buy (fictional) XCOIN in both of these accounts. Then I transfer some XCOIN from Account A to Account B. And then I sell some XCOIN from Account B.

A few questions:

  1. When a coin is transferred, does its basis get transferred also? (I assume so.)
  2. More specifically, if FIFO is being used and XCOIN is transferred from Account A to Account B, will the “first in” basis of that XCOIN in Account A be transferred to Account B?
  3. And when the basis of that XCOIN is transferred from Account A to Account B, what date is used in Account B for subsequent FIFO or LIFO determinations (when XCOIN is sold)? Is it the original purchase date of the XCOIN in Account A, or is it the date of the transfer from Account A to Account B?

I’d really appreciate your help in understanding how this is handled. Thank you!

This would depend on which tax method you picked in your settings. the TTO toll could also help you decide which tax method to use.

Check the solution in this post: Portfolio Value graph incorrect
Also, can you send me a screenshot of your missing currencies under the Review tab?
Here is an article if prefer to read over watching that video. https://accointing.com/the-hub/2021/calculated-and-actual-balance/

Also keep in mind that Accointing takes the prices from CoinMarketCap, not from the exchanges themselves. Getting the prices from the exchanges themselves would take a ton of time and energy and may be possible in the future, but not at this time.

Here is how to create an internal transaction: Internal Transactions - The Hub: Crypto and Bitcoin Tax Blog | ACCOINTING.com

Let me know if you still have any questions :slight_smile:

Thank you for the reply, but honestly, it doesn’t even seem to address my questions at all. (For what it’s worth, I have searched for and read all posts related to “multi depot” on the site, and have not found an answer to my questions, which is why I created the post.) Thanks anyway.

1 Like

yes, the basis is transferred with multi depot.

Thank you!

If you have any insight on questions 2 & 3, I’d appreciate it. (I realize they are a bit tricky to understand conceptually. Sorry about that.)

This topic was automatically closed after 6 days. New replies are no longer allowed.