Publisher`s description - Kryptofolio+tax
Kryptofolio+tax is a FIFO (first in first out) independent portfolio manager and tax calculator for crypto currencies. It can be used to give a rough idea of profit and loss and associated tax liabilities when using crypto-currencies as a trading instrument or as a payment method.
First you enter your tax settings as percentages (either simple or advanced) configuration. Then you can either QR scan or import or manually enter your crypto currency transactions (note ALL transaction data is retained only on the device - unless you specifically email it off device.) and based on PnL and the type of transaction, trade, purchase, mine, exchange... Kryptofolio+tax calculates your profit based on historic opening and closing prices, and then calculates a tax percentage as configured in the settings page.
All major crypto currencies are supported as well as six custom user defined ones. The tax liabilities report can then be exported via xml or csv format in raw or summary report styles.
Historic price discovery feature:
If you have made a cryptocurrency transaction a while ago and have either forgotten or did not note the bitcoin (or indeed altcoin) price at the time, you can use the new historic price discovery feature. This will reverse lookup all cryptsy listed altcoins and bitcoin historic prices in a variety of fiat currencies; so you can generate the fiat currency transaction value as it was at the time when the transaction was made. Very useful for audit purposes.
Since legislation is constantly evolving and very different in different territories, Kryptofolio+tax has a highly configurable tax section. However the consequence is that this configuration is therefore non-trivial, please inform yourself (via web or better still a tax specialist) as to what these settings should be for your territory.
IMPORTANT this is only intended to be used as a pocket guide just to keep track of potential tax liabilities and does not replace a
professionally prepared tax return by a qualified accountant.
Please read the about section and glossary sections about how to use this app.
Feature:
bitcoin profit and loss
