Our Label System is built on the two Transaction Base-Types "Unlabeled Deposit" and "Unlabeled Withdrawal". The Base-Type "Unlabeled Withdrawal" is used to record outgoing assets in your account and should be labeled with appropriate Labels.
Unlabeled Transactions themselves do not trigger taxable gains or losses, but should be relabeled accordingly.
If a Withdrawal remains without Label, it will be called Unlabeled Withdrawal and the transaction will be rated at market value at the time of inflow without triggering taxable gains or losses.
How to label an Unlabeled Withdrawal?
Unlabeled Transactions are a main part of our Labeling and Issue Handling System. This aims to ensure that undefined transactions can be identified and labeled appropriately. For more information, please follow our Issue Handling and Labeling articles:
How to create an Unlabeled Withdrawal?
It is no longer possible to create Unlabeled Withdrawals without a preselected Label. Only via Exchange, Wallet or CSV/XLS imported Transactions can be created without label.
If a Withdrawal is created as a manual transaction in a Manual Integration, it will have a direct impact on the displayed asset balance of your integration.
If a Withdrawal is created as a manual transaction in an Exchange or Wallet Integration, it will not directly affect the automatically and independently imported asset balance of your integration, but it will affect the final balance of your tax report.
How are fees taken into consideration for Withdrawals?
Example: Withdrawal of 1 BTC with 0.0001 BTC fee.
Fees are mostly considered on the withdrawal side, but can also occur on deposits.
Fees, if paid in the outgoing asset, will be considered as follows:
- If fees are paid in the outgoing asset:
"The fee is treated as a separate outflow."
Outgoing Amount: Net transaction amount (amount excluding fees)
Fee Amount: Enter fee amount extra