| My use case is also tax reporting. Like others I’m getting numbers I suspect to be inaccurate. I think the flaw may be this: I assume you’re calculating cost basis and gains on a broad set of the cryptocurrencies (including Neo, Ripple, etc) that are traded on these exchanges. But when the coins leave the exchange you count it as a sale unless you can see the receiving end of that same transaction in one of the user’s wallets. But you only support reading from wallets/blockchain for a subset of the coins (btc, eth, ltc). So you’re counting fake gains anytime a user sends any of the non-btc|eth|ltc coins for storage. Like others have said, you probably don’t want to assume that any outbound transaction from an exchange is a sale that should be taxed. Generally it may be difficult to get people to pay $150 with issues like this popping up. You could consider some combination of: -give a bit more info about the tax reporting before requesting payment, enough to convince users it’s calculated correctly - clearly outline the scenarios where users will get flawed tax info in help docs - flag uncertain items for individual clarification by the user in your UI a la Turbotax (“we couldn’t find a recipient for your Neo transaction on Aug 20– did you send this to another person or business?”) -offer the first year free to get help from folks ironing out these kinks, but try to establish lock in to get return business next year |
We will also make it clearer to the user when we see there are outgoing transactions that may indicate a missing wallet / exchange.