Upon further investigation, I realized that EVERY SINGLE ONE of the flagged transactions was from me turning off a smart rebalance bot. I'm currently setting up my crypto tax reports in CryptoTrader.Tax and I'm seeing A LOT of "Missing Cost Basis" flags. If you have transactions with no cost basis, crypto trade bot
trading bot it is assumed that the cost basis is $0 and that 100% of that asset is considered taxable profit. The implications of this are as follows: You're required by US law to report every single transaction you've made this year to the IRS.
Then, then, the bot is going to take care of everything like executing your order, so that you don’t need to be on the platform all night monitoring your trades to see when you are making money from them. A lo largo del tiempo que tarde para programar un bot de trading, me di cuenta de varios puntos importantes que me gustaría compartir con ustedes para que no pierdan tiempo yéndose por otro lado. Personalmente considero que KuCoin es una de las mejores aplicaciones de trading que existen, y yo como programador he tenido varias ideas que he podido llevar acabo gracias al API de KuCoin.
For tax purposes, this essentially shows up as 50 USDT disappearing from my account and $50 worth of BTC mysteriously appearing with no cost basis associated. Here's an example of what's happening: I start a smart rebalance bot with USDT and BTC split 50/50 - the key here is that I only deposited 100 USDT and no bitcoin to start the bot . If I immediately turn the bot off and select the "return multiple coins" option, there are ZERO records of the transaction in which the BTC was purchased.
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