#
Choose Txn Type
Acckenn Calc is only as accurate as the data you provide it. This means it's essential that you keep records of all crypto transactions, which includes not just buy or sell but also records of spending, income, gifts sent or received, etc.
#
Buy
The Buy transaction type records the exchange of fiat for cryptoasset, or one cryptoasset for another.
This could be for one for the following reasons.
- Fiat-to-crypto (acquisition)
- Crypto-to-crypto (disposal)
#
Sell
The Sell transaction type records the exchange of one cryptoasset for another, or for fiat currency.
This could be for one for the following reasons.
- Crypto-to-crypto (disposal)
- Crypto-to-fiat (disposal)
As a disposal transaction, it is applicable for Capital Gains tax.
#
Deposit
A Deposit is a transfer transaction record, indicating the receipt of cryptoassets to a wallet you control. For example, you might have deposited cryptoassets to a wallet on a cryptocurrency exchange.
Deposit should NOT be used to record transfers to someone else's wallet, this would be categorised as either a Sent or a Spend.
There should always be an equivalent Withdraw transaction record for every deposit, since cryptoassets are always moving out of one wallet into another.
Deposits and Withdrawals are not taxable events, but paying the transfer fee is.
The Deposit type can also be used to record fiat deposits into an exchange. Although this is not used for tax calculations, it will be used for auditing purposes.
#
Withdraw
A Withdraw is a transfer transaction record, indicating tokens being sent from a wallet you control. It is always used in combination with a Deposit transaction.
It is important that any withdraw fee paid is specified, the withdraw quantity should be the net amount (after fee deduction).
It's corresponding Deposit quantity should match the Withdraw quantity, this is important, as the transfers will be removed from the tax calculations.
The Withdraw type can also be used to record fiat withdrawals from an exchange.
#
Received
The Received transaction type is used to record cryptoassets received as a gift.
A gift received is not taxed as income.
#
Sent
A Sent is a disposal transaction record, which identifies cryptoassets sent as a gift.
As a disposal transaction, but it is not applicable for Capital Gains tax.
#
Income
The Income transaction type is used to identify tokens received as income, for example Airdrop, Mining, Staking, Interest or Dividend.
These transaction records will appear within your income tax report.
#
Spend
A Spend is a disposal transaction record, which is used to capture the spending of tokens on goods or services.
As a disposal transaction, it is applicable for Capital Gains tax.