Hi,
what’s the correct way to register rebase (for example with coins like Ampl) in Koinly for a proper tax report? Should the transactions be income, rewards or something else? and what about when the balance decreases?
Thank you for your help.
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Interested in the answer as well.
Did you get Koinly to actually show the correct balance ? Mine doesn’t seem right, I think it doesn’t take rebase into account, which is a problem of course.
No I haven’t managed to get the correct balance so I’m adding the rebase transactions manually registering the positive ones as income and the negative ones as a cost. I don’t know if this give the correct result from a taxation perspective.
We dont have any definitive answer to this yet, elastic supply tokens pose various challenges when it comes to taxation. We are working on importing AMPL rebases for ETH wallets though.
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I see, I guess I’ll continue registering them as I did till now. With some coins it’s a bit of a grey area when it come to taxation. Thanks and looking forward to the AMPL rebase in the ETH wallets.
You might adress the issue of how to report rebase on big crypto forums such as Reddit : there are good chances you’ll find people with similar issues, and, maybe, acceptable answers.
Thanks, I’ll give it a try
Hi, it might help : i described the way I handle my AMPL balance with rebases, you might find it useful
here : AMPL balance not right
My assumption is that rebases aren’t taxable events.
I use ACB so it’s a bit easier to handle rebases. Add a deposit with a 0 cost basis if there’s a positive rebase. Cost Basis of all AMPL is still the same, just a higher balance.
If there’s a negative rebase, I’ll transfer the coins to another wallet/pool, with the transfer fee being the negative rebase. Then I transfer it back. Cost Basis of all AMPL is the same, just a lower balance.
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Any update on this rebase token. Its going to be very confusing come tax time. Its not showing my token growth on the rebases but coin tracker does.