The Transaction-Label Receive Loan is used to record the incoming Asset/Loans that are meant to be considered as tax neutral. Receive Loan transactions do not trigger taxable gains or losses and will be rated at market value at the time of inflow.
How do I create a Receive Loan transaction?
Open your Blockpit Account and click on the top menu item Transactions.
Now select + Transaction.
Enter the Date and Time of the transaction.
In case of a manually created transaction directly in the WebApp, use your local time.
If the transaction is imported via CSV/Excel, use the standard exchange time UTC.
Now select the Transaction Label Receive Loan.
Now enter the Integration, Asset and Amount. If you paid Fees, enter them with quantity and currency as well.
Tip: In the input fields for assets, you can enter the short name (BTC) or long name (Bitcoin) as a search term to narrow down the search of the displayed list. If your asset is not selectable, you can get more information here.
Finally, click Save to complete the process and display the transaction in the Integration.
🧮 Effects of manually created transactions on your integration balance
If Receive Loan 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 Receive Loan is created as a manual transaction in an Exchange or Wallet Integration, it will not directly affect the automatically and independently imported synced asset balance of your integration. However, it will affect the calculated asset balance and your tax report.
How are fees considered in Receive Loan transactions?
Example: Receive Loan of 0.001 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 incoming asset, will be considered as follows:
If fees are paid in the incoming asset:
Case1: No additional fee on the deposit side.
Incoming Amount: Net transaction amount (amount excluding fees)
Fees Amount: Enter nothing or 0
Case2: Additional fee on the deposit side.
"If the fee is paid in the incoming currency, the input must be increased by the amount of the fee. The fee will be treated as a separate outflow."
Incoming Amount: Net transaction amount (amount excluding fees) + fee amount
Fee Amount: Enter fee amount as well