Settings
A summary of options found under the "Settings" Menu
Last updated
Was this helpful?
A summary of options found under the "Settings" Menu
Last updated
Was this helpful?
Users can select their base currency for tax calculations.
Users can select whether capital gains are calculated using a First-in-First-Out (), Last-in-First-out () or a Highest-in-First-out () method.
Accurate calculation of capital gains typical requires information about all historical ownership of a given asset. If your assets changed value while on a centralised exchange where you don't have a unique wallet address to input into Celo.Tax, your calculated gains are likely under or overestimated.
If historical data is missing for certain tokens, Celo.Tax sets the buy price equal to the sell price, which results in zero capital gain. This may result in underestimating your capital gains.
Unrealised gains are calculated by taking the difference in value of tokens in your portfolio and the cost basis for those tokens.
Users can choose to separate out short term (<1 year) and long term (>1 year) capital gains/losses.
Allows users to only analyse transactions up to a certain date. Useful for generating a historical snapshot of portfolio value. Transactions are included up until the end of day UTC on the specified date.
Under "Settings", users may choose a default label to apply to any deposits that are not already automatically labelled. The two options are:
Income - deposits are labelled as "Revenue". If you use a wallet to receive business income, this is often the right setting.
Transfer from exchange - deposits are labelled as "Transfer from exchange". If you have deposits to your wallet from an exchange, this allows you to ignore them from counting towards revenue.
Note that these defaults are overridden in cases where the software automatically detects the transaction type (see Supported Transactions in the Blockchain Guide).
This feature (on by default) considers similar tokens (e.g. USDC and aUSDC) as fungible and ignores any gains or losses when swapping between these tokens. A list of tokens treated as similar is - broken down by blockchain.