mai 22, 2023 2 min de lecture

Product update - 22nd June 2022

At Summ (formerly Crypto Tax Calculator), we are constantly working on improving our product so you can have the best experience at tax time. Check out our blog for the latest product updates.

Samara LeMerle

Cet article est mis à jour régulièrement: Dernière mise à jour mai 22, 2023

UI uplift: Review Transactions page

Our review transactions page has had an uplift, enabling you to see the most important information of each transaction with ease. If you have any feedback for this updated design, don’t hesitate to leave a comment down below.

New transaction categories: Add/Remove Liquidity + Send/Receive LP token

Do you frequently interact with liquidity pools and LP tokens? We have added in the ability to use 2 new transaction categories: Add/Remove Liquidity and Send/Receive LP Token. Both of these new transaction categories are set to have the same tax implications as a buy/sell.

If you are not sure how LP tokens are taxed in your region, please speak to your local tax professional.

New cost basis method: Specific ID by exchange

You can now navigate to the settings page and select whether your cost basis should be tracked universally, or by wallet/exchange. By default, your cost basis will be tracked universally across all wallets and exchanges. This feature is not available for the HMRC and Adjusted Cost Basis inventory methods.

New Dashboard toggle: Reported + Calculated balances

You are now able to toggle between your “Reported” and “Calculated” balances on the dashboard. Depending on what types of transactions you have made, a different balance type will be more accurate. Below is a summary of the two balance types:

Reported Balance:

Shows a live view of your balances reported by your exchanges and wallets. Balances that are not in your wallets (e.g. staking deposits) will not be shown. Please note that CSV imports, as well as some exchanges and wallets do not support live reporting of balances, and in these cases, the holdings calculated by Summ (formerly Crypto Tax Calculator) will be used.

Calculated Balance:

Shows your balances as calculated by Summ, based on your imported wallets and exchanges. This includes holdings from wallets you have not yet imported (e.g. collateral deposits). Accuracy relies on the correct reconciliation of transactions.

Tax toggle: setting “Bridging” as a taxable or non-taxable event

You are now able to toggle whether bridging assets are seen as taxable or not within the tax settings. If you’re unsure about the tax implications of bridging in your region, we recommend getting in touch with a local tax professional.

Minor Changes

Since our last product newsletter, the following minor changes have been implemented:

The name of the Borrow category has changed to Loan
We have consolidated the two Kucoin imports, into only one Kucoin import
We have added support for the new Coinstash CSV format

Comprendre les différents rapports fiscaux disponibles En savoir plus Gérer et inviter des clients En savoir plus Modes de collaboration avec les clients : service complet, collaboration et libre-service En savoir plus Utiliser différentes méthodes d'inventaire En savoir plus

Les informations fournies sur ce site sont de nature générale et ne constituent pas un conseil fiscal, comptable ou juridique. Elles ont été préparées sans tenir compte de vos objectifs, de votre situation financière ou de vos besoins. Avant d'agir sur la base de ces informations, vous devez évaluer leur pertinence au regard de vos propres objectifs, de votre situation financière et de vos besoins, et consulter un professionnel. Summ (anciennement Crypto Tax Calculator) décline toute garantie, engagement ou assurance, exprimée ou implicite, et ne saurait être tenu responsable de toute perte ou dommage, quel qu'il soit (y compris une erreur humaine ou informatique, qu'elle soit due à une négligence ou non, ou une perte ou un dommage accessoire ou consécutif), découlant de, ou lié à, toute utilisation ou confiance accordée aux informations ou conseils présents sur ce site. L'utilisateur doit assumer l'entière responsabilité liée à l'utilisation du contenu de ce site, quel que soit l'objectif pour lequel cette utilisation ou ces résultats sont appliqués. Les informations présentes sur ce site ne remplacent pas les conseils d'un spécialiste.

Samara LeMerle

Strategy and Communications Manager

Samara has been working in the crypto industry for the last 3 years and is passionate about helping other crypto users learn about the tax implications of their trading activity.

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