T
Tgoode
Please update for protocols Like marinade on Solana. The protocol takes your Solana and gives you mSOL in return which is not a trade but collateral.
C
CT-lON8yRnQ
Tgoode
m
melvinlfarrjr62@gmail.com
Reahano12
p
pete.colorado@gmail.com
I need to be able to mark transactions related to MakerDAO's CDP and Vault platform with the appropriate statuses. This needs to include traditional loan use cases (Create Loan, Supply Collateral, Borrow Stable Value, Repay Stable Value, Liquidation of Collateral, Close Loan), using a volatile asset like crypto as collateral. In the event that the volatile collateral dips below the threshold and the loan is liquidated, this should be treated as a Capital Loss.
Additionally, we need a way to support the user when the loan platform collapses unexepectedly or is hacked, such as when MakerDAO's Vault Platform was attacked by malicious hackers who were able to successfully bid $0 and drain everyone's ETH collateral for free. https://medium.com/@whiterabbit_hq/black-thursday-for-makerdao-8-32-million-was-liquidated-for-0-dai-36b83cac56b6
Collin Machine
Since loans are not taxable events (only the buying/selling/trading), really you can just create transactions manually for Withdrawal (to the lender) for the crypto being used as collateral, and then if receiving the loan as crypto, like USDT or USDC, then just edit the "Deposit" transaction to be a "Buy" (taxable - sets cost basis) in amount of the crypto received. Then when you pay back the loan, edit the "Withdrawal" transaction to be a "Payment" (taxable - sets net profit/loss based on previous "Buy" cost basis) instead. And when you get your collateral/crypto back, thats just a "Deposit" - not financial, legal, or tax advice, but this is what I do, and it reports accurately.
c
copelandkelly062@gmail.com
I'd like to take a loan out for my transactions?Do my transactions support that feature?And can the cost for the expert and tax fees be taken out from the return like the option to do so in turbo taxes when filed?
John Griffin
Is there a rough ETA for this feature?
Currently cannot sync via api for my main account because the "lend transactions are not supported".
Makes coinledger non functional for taxes till this is resolved as there is no way to undo the transaction history on an account, but cant import history till this is supported...
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Amber Squirrel
yes support important
Lucas Wyland
planned
k
kalok1@centrum.sk
Lucas Wyland:
Patrick Ayelle
Lucas Wyland: just as a reference. smart contract support for collateralized debt positions. Maker and Reflexer are examples.
p
pete.colorado@gmail.com
Lucas Wyland: Can we please get an ETA on when this will be implemented? I'm not sure how to handle my tax reporting for this year within CoinLedger, as there are numerous transaction errors that I can't resolve with the existing statuses.