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Profit chart for taxes (#47)

Currently I chart this in a spread sheet. I do this because in the US we have to track gains for tax purposes.

Pool, Mine Start, Date Obtained, Quantity, Price, Cost Basis, Selling Price, Gains, Gain at Current Price, Electricity Cost, Profit

This depends on some inputs.

  • currency: USD
  • price per kwh: 0.0942
  • Miner power used: 1.45653 kw/h
  • Current Price: http://api.bitcoincharts.com/v1/weighted_prices.json
  • Selling Price: price at time of sale

Calculations

  • Pool = Slushy
  • Mine Start = Date of last payout
  • Date Obtained = Date of current payout
  • Quantity = Amount of current payout
  • Price = Bitcoin price in Currency http://api.bitcoincharts.com/v1/weighted_prices.json at time of payout
  • Cost Basis = Quantity * Price
  • Selling Price = Manually entered
  • Gains = (Quantity * Selling Price) - Cost Basis
  • Gain at Current price = (Quantity * Current Price) - Cost Basis
  • Electricity = ((Date Obtained - Mine Start) * 24 hours) * (Miner power used * price per kwh)
  • Profit = (Quantity * Current Price) - Electricity

It would be great if you implement this chart that you go back and fill in all the older Price with the closing price of the day paid. Also it may make sense to apply a pool % for people that mine multiple pools although the price per kwh can be manually adjusted by the uses. With Pool % you would change Electricity = Electricity* Pool %. The mine date should be editable by the users to adjust for the start and for dates out of service. Electricity is calculated as 24 hours. 2 payouts on the same date shows the second payout as taking no electricity. That makes sense since the first entry accounted for the full charge for the day.

— RonCoinMaster, 09 December 2014, 12:12

Comments & Updates

  • this spreadsheet would be great
    — jaredgrover, 10 April 2018, 15:04
  • Proposal merged with #1068
    07 February 2018, 15:02
  • Proposal merged with #955
    07 February 2018, 15:02
  • Do you have a copy of this excel sheet?
    — Reload0311, 07 January 2018, 23:01
  • Ff
    — Andylim, 08 July 2017, 08:07
  • Proposal state changed: Draft Approved
    09 December 2014, 12:12

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