When it comes to taxes, the financial authorities don’t turn a blind eye. Not only is this known in the case of profits from conventional forms of investment such as shares, but also when it comes to profits from cryptocurrencies. With the second both the correct calculation of the tax burden and a complete documentation of all transactions are inevitable. The complexity caused by the high number of coins or exchanges used makes this a lengthy and often difficult process. It is therefore a bitter reality, that errors occur when entering transactions. Blockpit keeps the number of these errors very low through automatic API and CSV, but errors can occur when inserting manual transactions. With version 1 of the Blockpit platform this problem is quickly solved and with the new error handling errors can be eliminated quickly and easily. This is how it works:
Under the menu item "Reports" you will find our error dialog, which informs you about errors in the documentation of your transactions. A complete and correctly calculated report can only be created and downloaded once the errors have been corrected. The error dialog always displays the date of the oldest error. Once you have corrected it, the next one is shown until all errors have been corrected.
First of all, the error dialog shows you when an error occurred. You will be shown a concrete date before which an error was made. This means that only the time before the error took place is relevant.
Furthermore, the error dialog in the information field below the bar provides information about the number of coins that are missing, in which transaction they are missing and in which widget the error is located. If it is an API widget, the error can be solved in a manual widget. More about this later.
With this information you can easily find the error in the documentation and correct it manually. Please read below what typical bugs there might be. We are already working on the possibility to not only detect, but also automatically correct known and frequent errors in the future. Until then, you will find answers on frequently occurring errors below to help you with your initial questions and the error dialog.
What can be common mistakes?
Getting the errors displayed to be able to solve them easily is one thing, knowing where the errors come from is another. Attention: In 95% of the cases the errors are due to a gap in the transaction history. What can be such a gap?
Blockpit can only import transactions automatically via API or CSV, which were also carried out on Blockpit supported exchanges. Gifts, airdrops on own wallets, mining or bitcoin ATM deposits and other special cases have to be entered manually to inform our platform about their existence. Information on transaction types can be found in the linked blog article. Support on how to insert a transaction in a manual widget can be found here.
Another error can be rounding at places far behind the decimal point. So if the amount of the incorrectly displayed coin is very small, such a rounding of an Exchange can trigger the error. To solve the problem, it is sufficient to enter this small amount as Euro for coin exchange with the date before the error.
Conclusion: In general, you will find the information on the individual error sources directly in the error dialog and in the Blockpit Help Center. Our tip: Take a step back in time and think about whether you have ever received Bitcoins and Co. from a non-importable source (exchanges without API/CSV interface to Blockpit). If this is the case, these coins must also be entered manually for an error-free calculation.
If further questions arise outside the Blockpit platform, the Blockpit Help Center will assist you. In the different categories questions about the Blockpit platform, the affiliate system, privacy and tax information are answered. We are constantly updating the answers and adding new questions. Of course, our personal support also offers help with individual errors and problems. If you are missing important questions in the Help Center that might be of interest to other users, we are looking forward to your feedback and the expansion of our Help Center.
If none of this helps you, just write us at firstname.lastname@example.org. Please always send us your widget ID (you will find it at the end of the url when you are in the widget) and a screenshot so that we can help you even faster.