Reviewing the Capital Gains Report
Last updated
Last updated
The Capital Gains Report provides a detailed breakdown of each asset disposed of during the given tax year. It includes daily information on proceeds, costs, and fees, along with match types and the resulting gain or loss for each transaction.
The report also features a section showing the disposal totals for each asset, as well as details on margin, futures, and other chargeable gains or losses.
This section of the report is useful for identifying potential issues with each token.
Review Gains and Losses
Check the total gain or loss for each token and verify that it aligns with your expectations. Focus on the largest gains at the top and the largest losses (in brackets) at the bottom of the section. If any figures seem incorrect, drill down into the detailed daily disposal calculations for the transactions involving that token to see if further action is needed.
Review Costs and Proceeds
Review the Cost and Proceeds totals for each token:
If both Cost and Proceeds are nil, investigate the transactions to understand why. This may indicate a spam or worthless token, in which case no further action is required.
If Cost is nil but Proceeds are listed, it may signal a missing acquisition. In this case, investigate the relevant transactions to ensure all acquisition data has been accounted for.
Review Stablecoin Gains or Losses
Pay particular attention to any significant gains or losses on stablecoins. Large gains or losses on stablecoins are often unexpected unless you're engaging in heavy trading. Investigate any discrepancies to ensure accuracy.
By carefully reviewing the Capital Gains Report, you can ensure all disposals, gains, and losses are accurate and address any issues that arise with token transactions, missing data, or unexpected results.
