Blockpit shows you, under the menu item Reports, whether there are any Issues in your tax calculation. To ensure that the most up-to-date Issues are displayed, a recalculation of the tax reports should be triggered first. During the recalculation of your tax report, all Issues found will already be listed on the Reports page.
Make sure to always trigger the Recalculate Report or the Review Transactions button before you review Issues.
You can either edit affected transactions directly on the Reports page or use Filter Options in the transaction list to analyze Issues.
What do Issues mean and how can I solve them?
Issues reveal insufficient transaction details and are usually related to Missing Assets, Missing Asset Values or Missing Hardfork inflows.
The different types of Issues can be solved as follows:
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Unlabeled
Transactions that have not yet been labeled are displayed as "Unlabeled":
Labels are used to classify transactions.
Exchange and Wallet Integrations already identify many Labels such as Trade, Transfer, Staking, Lending, Airdrop and many more fully automatically.
In some cases, however, no unique label can be assigned to your transaction. Such transactions will be displayed as "Unlabeled Deposit" (Incoming) or "Unlabeled Withdrawal" (Outgoing) and will appear as such in your transaction list.
The most common causes of the "Unlabeled" Issue are Fiat Bank Deposits/Withdrawals. These can be labeled as "Non-Taxable".
Example: Labeling of multiple Fiat Bank Deposits to Non-Taxable
> Transaction-Label "Non-Taxable"
Other common causes are not yet directly determinable reward inflows (Airdrop, Bounty, Lending, Mining, etc.), incompletely recognized Trades/Transfers, or inflows/outflows from undetermined smart contracts (fallbacks).
Please also use additional articles for the correct labeling or merging of Unlabeled transactions:
> Basics on Labeling and Merging of Transactions
> Automatic & manual Merging to Label "Transfer"
Tip: Make use of the Filter Options Issue: Unlabeled Incoming/Outgoing for Bulk Labeling of multiple Transactions or Filter Option Issue: Unlabeled Incoming+Outgoing (combined) for manual Merging to Trade or Transfer.
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Mismatched Balance
The mismatched balance issue indicates that there are differences between the balances reported by the data source and the calculated ones based on your transactions in Blockpit. This may be caused by missing or incorrect transactions received via APIs.
> What is the difference between Synced Balance and Calculated Balance?
Important
The Synced Balance of every automatic Exchange or Wallet Integration will always be registered/imported a bit earlier than your latest transactions. Therefore, always wait until your most recent transactions have been imported.
Please also note that the Synced Balance itself can sometimes be the cause of a Mismatched Balance Issue (E.g. Binance Locked Staking). Therefor, make sure to use the import scopes descriptions of our automatic Exchange- and Wallet Integrations as guidelines.
Before you fix the Mismatched Balance Issue, you must always fix the Missing History Issue first.
Consider the following steps:
1. Make sure you have imported all transactions from your sources (wallets, exchanges, services) across all years into Blockpit.
Tip: Make sure to use the import scopes descriptions of our automatic Exchange- and Wallet Integrations as guidelines.
2. Please check your transaction history (imported via API, Chain or CSV) and identify any missing transactions or fix any missing history issues first!
3. (Planned Feature: Add the missing transactions manually or let Blockpit reconcile the data for you. We will then create Auto-Balancing deposits or withdrawals today, depending on the difference.)
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Missing History
Missing History Issue mean that assets have flowed out that were not present according to your transaction list. In such cases, a Trade or any other Outflow discloses that the balance of the affected asset has fallen below 0. If missing assets are sold, due to unknown acquisition costs, the full disposal value of the missing asset will be imputed as profit and thus be valued unfavorably for tax purposes.
To solve this Issue, you need to check if all Transactions of the affected Asset in your Integration have actually been imported correctly or if you have manual Transaction duplicates.
Use the Ledger Mode feature to help you compare your transaction histories and balances.- Examine the transaction history of your Exchange or Wallet and focus your search on the asset that triggered the Issue. Start with the oldest Issue per affected asset, as this usually triggers all other subsequent Issues.
- Please pay attention to the type of Integration that is affected (Manual Integration, Exchange Integration, Wallet Integration) and use all available filter options in your transaction history to compare your Blockpit transactions.
Tip: Use the import scopes descriptions of our automatic Exchange- and Wallet Integrations as guidelines! - Once you have identified missing, duplicate, or incorrect transactions, you can fix them as follows, depending on the type of integration:
Exchange & Wallet Integration
Missing transactions can be added manually
Duplicate transactions can be excluded manually
Incorrect transactions can be edited manually or reported to our support.Manual Integration
Missing transactions must be added manually.
Double transactions must be deleted manually.
Incorrect transactions must be edited manually.
- Examine the transaction history of your Exchange or Wallet and focus your search on the asset that triggered the Issue. Start with the oldest Issue per affected asset, as this usually triggers all other subsequent Issues.
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Missing Value:
If no fiat value can be determined for your Asset at the time of the transaction, Asset Values can be added to affected transactions by the user to resolve the Issue.
Use the Filter Option "Issue + Missing Value" in the transaction list to find the corresponding transaction(s). Now click on the three dots as shown in the image below and select Update Asset Value.
In the follow-up menu (sidebar) you can now enter either the Price per Unit (currency rate of your asset at the time of the transaction) or the Total Value of the transaction. Confirm your input with the "Save Changes" button.
The Asset Value should always reflect the market price at the time of the transaction. Blockpit uses Coinmarketcap, Coingecko or other available price data sources. If asset values are missing, you can use other price aggregators, in the best case, get values directly from the transaction history of your exchange.If the Issue is not resolved, Blockpit automatically assumes 0 Euro as asset value. (Fallback)
Merged Deposits and Withdrawals (Transfers, Trades) or labeled Airdrops do not require currency rates.
Merge transactions or labeling them as Airdrops thus solves the problem of a Missing Fiat Values.
If transactions (Trades) are settled directly against fiat or other assets whose price data are known, no additional price source/rate is required due to the direct valuation. -
Transaction Loop:
This Issue refers to incorrectly linked transactions. Please unlink all affected transactions and link them manually afterward. Pay special attention to the timestamps of your transactions to avoid re-linking loops.
If the time stamps of several affected Unlabaled Deposits and Unlabaled Withdrawals are identical to the second, they should be manually reprocessed so that a unique or unmistakable chronological order of your transactions is created. -
Missing Hardfork History:
This Issue only applies to transactions of the type "Hardfork".
The Issue is triggered if the hardfork base asset within the integration is missing at hardfork time.
Causes for missing assets are mostly missing, double or incorrect transactions for the affected base asset. To solve the Issue please follow the steps in "Missing History" above. -
Unknown Hardfork Asset:
The asset did not have a hardfork at the specified time or the hardfork has not yet been deposited in our database. Please note that your hardfork transaction must be created after the official hardfork date.
If the Issue still occurs, please contact our support and provide all necessary information about this hardfork for our support team so that we can analyze and fix the issue for you as fast as possible. -
Unsupported Label:
This issue refers to an unsupported label regarding the regulatory framework of your tax country, which means that the label you would like to apply is not available for the asset types involved in the transaction. Therefore, the label should be changed.
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Undefined Issue:
Undefined issues can occur as a result of faulty transaction history calculations on our side. Therefore, you may not be able to fix this issue yourself.
Please contact our support team and provide all necessary information so that we can analyze and fix the issue for you as fast as possible.
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