Getting Chia transactions for tax purposes

I mine eth and xch. To get the list of eth mining deposits I can simply enter my public eth key into the eth block explorer and get the entire list of deposits into my wallet.

I am finding this more difficult with xch. if I open up my Chia wallet/farmer I click on the Wallet button and I extract my “Receive Address”, thinking this is my public key and I put in the xch block explorer but it comes back with nothing, even though in my wallet I have xch. I have been mining for months, but nothing in the block explorer for the receive address.

Any help or idea on how to get a of all transactions (greater than 50) in my wallet?

What explorer are you using?
I’d try a different one.
And use the keys that are dedicated to receive rewards.
In the gui I think it’s the farm tab, top right are 3 vertical dots, click there to view those dedicated addresses.

Command line has chia wallet get_transactions

Well for one thing I’d suggest setting withdrawals higher so you have less transactions.

I’d also suggest checking for a payout address. In our pool we payout to the payout address you farm to and it’s that address you search to find your worker page. Not sure if your receive address is the same as the payout one.

1 Like

On the UK it needs to be the day you mined, not the day you withdrew, so upping withdrawl limit really doesn’t matter and complicates things.

Well, few issues with that. First, the question was how to get, not really how to make those transactions more or less frequent.

Next, instead of telling which address to search for, etc., maybe the on your pool page you could have one more item that would let user download all transactions in a CSV form.

Lastly, as @Bones pointed, you could make that download as either per mined or per paid.

Space does csv download, really helpfull.

1 Like

Found another post on here that might be interesting if you are familiar with the CLI.

1 Like

We have this already. That being said going over each transaction on your books would be a pain so best to reduce the # of payouts. Some of our larger farmers set it at 10xch payout.

We had that discussion already. I guess you are still mixing payment frequency with payment amounts and are giving irrelevant examples. I have already suggested that you add payment frequency (in addition to the threshold), as no one is interested in fiddling with that threshold, but rather specifying how often is being paid (daily, weekly, …).

As pointed out, Flex does provide CSV download of all payouts. I can see the idea of selecting a fixed payout schedule rather than a limit, though limit is what other pools seem to do as well.

What I really miss is for the CSV to list USD value using XCH price at the time the payout was made rather than just a fixed XCH price at the time of the CSV download.

I had to find prices on Okex at the date of each payout and edit the USD value. It was a lot of work. And I used Daily closing price (rather than intraday price) which I’m not sure fully satisfies IRS requirements.

Edit: Recently I have begun saving Flex’ email notifications of each payout, since these emails do include USD value at the time of payout. Not as easy as if it were in the CSV, but faster than looking up each payout on an Okex chart.

1 Like

Not sure where you live or how taxes work there, but in the UK, it needs to be the daily open or close price used , not at time of payout.

And if you choose open, all other dates need to use open as well.
Same goes if you choose close.
This stops ppl using the cheaper of the two day by day.

Also needs to be done for the day it’s mined, not the day it’s paid out.

I guess, what I am going after is that pools have all the data already, and requests that being mentioned are small and not too many. For instance, just having one person on the pool side to add a switch “Report per Payout OR Minting” would save many hours for the rest of us. Or having to save all the emails to pair them with some other partials CSVs points to another thing that should be also done on the poos side, and it doesn’t look like a big task.

1 Like

I can see where that’s really helpfull, especially if you can’t hit the min payout threshold within a day.

Last year was my first dealing with crypto, so I have no prior tax experience in the area. But I’ve seen quotes from the IRS stating to use “price on the date and time of receiving control of a crypto asset” (from memory, not quoting an IRS reference).

Your point about consistency is an excellent one, though (open or close). For last year I am going with payouts (and a few faucet drops) priced at the Daily close using Okex charts.

As for recording at the time of mining rather than the time of payout, that would be almost impossible on a large pool like Space, that finds blocks every few minutes, no?

My first pool Maxio, closed shop without making my last payout because I was below their minimum limit (by a few mojo. When I complained about that, I received much flak, rationalizing that the pool owners had lost far more time and money than me). So that “mined income” never came under my control.

But of course it doesn’t matter what I think, only what IRS thinks. My CPA will have to resolve this, come that time.

No, as you only use the days open or close, so it’s 365 calculations no matter how many payments you get within the pool on any particular day.

And I’m quoting hmrc, I’ve no idea how the irs work.

Same here, even if you get hacked, lose pvt keys, you still sometimes end up paying taxes due.

1 Like

That does actually make sense. Thank you!

1 Like

I’ve requested add chia.
Hopefully they will.

1 Like

I wrote a script that polls my wallet for any change to the balance and then pulls the latest transaction from the Chia CLI, fetches the current USD value, and writes the transaction out to a CSV that I can keep.

1 Like