At a glance
▸ Label: Margin Trade ▸ Direction: 🔄 connects an outflow and an inflow ▸ How the app describes it: “You traded real cryptocurrencies on the spot market with leverage.” ▸ Where to find it: + Transaction › Transaction Label › group Incoming & Outgoing ▸ Do not confuse with: Trade, Stock Sale, Stock Purchase |
The Transaction Label Margin Trade is used to record leveraged trades from spot margin trading (spot market) in your integration. These are usually directly related to a borrowed margin (loan/credit) which is represented in Blockpit using the transaction label “Receive Loan” and repaid when the position is sold using the transaction label “Repay Loan.”
✔ Existing Margin Trades that have already been imported and were previously displayed using the Transaction Label “Trade” do not need to be changed, as both labels have the same function. The new label is primarily intended to provide a better overview.
💡 The alternative Transaction Labels “Margin Profit/Loss/Fee” should only be used if the actual transaction chain consisting of loan, margin trade, and repayment has not already been recorded in your Blockpit account. The representation using the Transaction Labels “Receive Loan/Margin Trade/Repay Loan” is therefore always preferable, if possible.
Mixing or using the “Margin Profit/Loss/Fee” labels alongside the “Margin Trade” label within a single position or platform should be avoided at all costs (use one or the other)!
Mixing or using “Margin Profit/Loss/Fee” together with the “Margin Trade” label within one position/platform must be avoided (either/or)!
❗ Please also note that for profits and losses from futures, options & derivative trading, the labels “Derivative Profit/Loss/Fee” should be used.
🎓 More details on the tax implications and categorization of all transaction labels can be found in the tax results under the menu item “Reports” and in the appendix of your tax report.
How do I create a Margin Trade?
1️⃣ In your Blockpit account, click the Transactions menu item.
2️⃣ Then select + Transaction.
3️⃣ Enter the date and time of the transaction.
ℹ️ For a transaction created manually directly in the web app, use your local time.
ℹ️ For a transaction imported via CSV/Excel, use the standard exchange time UTC.
4️⃣ Now select the Transaction Label Margin Trade.
5️⃣ Now enter the integration, asset and amount. If you paid fees, enter them with asset and amount as well.
💡 Tip: In the asset field, enter the short name (BTC) or the long name (Bitcoin) to narrow down the list. If you cannot find your asset, this overview will help.
6️⃣ Finally, click Save to complete the process and show the transaction in the integration.
What happens to my balance?
How a manually created transaction affects your balance depends on the type of integration:
Integration | Effect |
Manual integration (CSV/Excel) | directly changes the displayed balance of the integration |
Automatic exchange or blockchain integration (API) | does not change the imported Synced Balance, but it does change the calculated balance and therefore your tax report |
How are fees considered on a Margin Trade?
Example: A Margin Trade of 10000 EURO to 0.1 BTC with 0.0001 BTC fee.
Fees can be recorded either in the incoming or in the outgoing asset.
Fees, if paid in the incoming or outgoing asset, are 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 paid: enter the fee separately
▸ If fees are paid in the incoming asset:
Case 1: No additional fee on the deposit side.
Incoming amount: net transaction amount (amount excluding fees)
Fee paid: enter nothing or 0
Case 2: Additional fee on the deposit side.
"If the fee is paid in the incoming currency, the incoming amount must be increased by the amount of the fee. The fee is treated as a separate outflow."
Incoming amount: net transaction amount (amount excluding fees) + fee
Fee paid: enter the fee separately
Blockpit does not provide tax advice. For specific legal questions, please contact a tax advisor.