Compute the fair market value (FMV) of staking rewards at time of receipt.

Last update: Jan 7, 2022

Related tags

General Utilities tendermint-tax

Overview

tendermint-tax

A tool to help calculate the tax liability of staking rewards on Tendermint chains.

Specifically, this tool calculates the fair market value (FMV) of staking rewards at time of receipt - that is, the time that you claimed the reward. It does the same for other inflows and outflows of tokens, like sending tokens to a friend.

WARNING

This software might not work

THIS IS A WORK IN PROGRESS. This is experimental software. No one else has looked at it yet. Use at your own risk.

And even if it does work...

This a tool I use to help my CPA. This is not tax advice. I am not a CPA. Use at your own risk. You have been warned.

Install

# clone this repo
git clone [email protected]:elsehow/tendermint-tax
cd tendermint-tax
# create a python virtual machine
python3 -m venv venv
source venv/bin/activate
# install the dependences
pip3 install -r requirements.txt

Use

This command will get the FMV at time of reciept for the address juno175q6smvgnuec5e62rs4chnu5cs8d98q2xgf4rx for financial year Jan 1, 2021 - Dec 31, 2021, saving the resulting file as juno.csv:

# make sure virtual machine is active
source venv/bin/activate
# run tendermint-tax
python3 tendermint-tax.py --rpc  https://rpc-juno.itastakers.com --address juno175q6smvgnuec5e62rs4chnu5cs8d98q2xgf4rx --ticker JUNO --fystart "2021-01-01" --fyend "2021-12-31" --outfile "juno.csv" -v

See detailed help on all arguments with python3 tendermint-tax.py --help.

Did this tool help you?

Did this tool save you time or money? Delegate with me!

Stake with me:

Juno - elsehow junovaloper175q6smvgnuec5e62rs4chnu5cs8d98q2e4l6cl
Stargaze - elsehow starsvaloper1hvw778wslvyxh6mmv3sy96mwnaw80elmrswc6h
Oasis - Daylight Network oasis1qra3rvq7y055waxmnx8rc0nad3frr8na2s9l8l3f

Or pay what you think is fair:

Cosmos - cosmos175q6smvgnuec5e62rs4chnu5cs8d98q2s62wy6
Osmosis - osmo175q6smvgnuec5e62rs4chnu5cs8d98q2cpe7jg
Akash - akash175q6smvgnuec5e62rs4chnu5cs8d98q2ap8faq
Regen - regen175q6smvgnuec5e62rs4chnu5cs8d98q20cpjj7

License

BSD-3

Comments

Suggest to loosen the dependency on funcy

Hi, your project tendermint-tax(commit id: e5e5a81161132e51b6f1a70845c17bd3a10cd424) requires "funcy==1.17" in its dependency. After analyzing the source code, we found that the following versions of funcy can also be suitable, i.e., funcy 1.11, 1.12, 1.13, 1.14, 1.15, 1.16, since all functions that you directly (1 APIs: funcy.seqs.flatten) or indirectly (propagate to 0 funcy's internal APIs and 0 outsider APIs) used from the package have not been changed in these versions, thus not affecting your usage.

Therefore, we believe that it is quite safe to loose your dependency on funcy from "funcy==1.17" to "funcy>=1.11,<=1.17". This will improve the applicability of tendermint-tax and reduce the possibility of any further dependency conflict with other projects.

May I pull a request to further loosen the dependency on funcy?

By the way, could you please tell us whether such an automatic tool for dependency analysis may be potentially helpful for maintaining dependencies easier during your development?

opened by Agnes-U 2
Akash address issue

(venv) ➜ tendermint-tax git:(main) ✗ python3 tendermint-tax.py --chain akash --address [akashaddress] --ticker AKT --fystart "2021-01-01" --fyend "2021-12-31" --outfile "akash.csv" -v 2022-02-28 14:50:02 INFO: Querying RPC for transfer.recipient='[akashaddress]' Traceback (most recent call last): File "/Users/zinc-ops/Documents/GitHub/tendermint-tax/venv/lib/python3.9/site-packages/urllib3/connection.py", line 158, in _new_conn conn = connection.create_connection( File "/Users/zinc-ops/Documents/GitHub/tendermint-tax/venv/lib/python3.9/site-packages/urllib3/util/connection.py", line 80, in create_connection raise err File "/Users/zinc-ops/Documents/GitHub/tendermint-tax/venv/lib/python3.9/site-packages/urllib3/util/connection.py", line 70, in create_connection sock.connect(sa) ConnectionRefusedError: [Errno 61] Connection refused

During handling of the above exception, another exception occurred:

Traceback (most recent call last): File "/Users/zinc-ops/Documents/GitHub/tendermint-tax/venv/lib/python3.9/site-packages/urllib3/connectionpool.py", line 597, in urlopen httplib_response = self._make_request(conn, method, url, File "/Users/zinc-ops/Documents/GitHub/tendermint-tax/venv/lib/python3.9/site-packages/urllib3/connectionpool.py", line 354, in _make_request conn.request(method, url, **httplib_request_kw) File "/usr/local/Cellar/[email protected]/3.9.10/Frameworks/Python.framework/Versions/3.9/lib/python3.9/http/client.py", line 1285, in request self._send_request(method, url, body, headers, encode_chunked) File "/usr/local/Cellar/[email protected]/3.9.10/Frameworks/Python.framework/Versions/3.9/lib/python3.9/http/client.py", line 1331, in _send_request self.endheaders(body, encode_chunked=encode_chunked) File "/usr/local/Cellar/[email protected]/3.9.10/Frameworks/Python.framework/Versions/3.9/lib/python3.9/http/client.py", line 1280, in endheaders self._send_output(message_body, encode_chunked=encode_chunked) File "/usr/local/Cellar/[email protected]/3.9.10/Frameworks/Python.framework/Versions/3.9/lib/python3.9/http/client.py", line 1040, in _send_output self.send(msg) File "/usr/local/Cellar/[email protected]/3.9.10/Frameworks/Python.framework/Versions/3.9/lib/python3.9/http/client.py", line 980, in send self.connect() File "/Users/zinc-ops/Documents/GitHub/tendermint-tax/venv/lib/python3.9/site-packages/urllib3/connection.py", line 181, in connect conn = self._new_conn() File "/Users/zinc-ops/Documents/GitHub/tendermint-tax/venv/lib/python3.9/site-packages/urllib3/connection.py", line 167, in _new_conn raise NewConnectionError( urllib3.exceptions.NewConnectionError: <urllib3.connection.HTTPConnection object at 0x11bb5e610>: Failed to establish a new connection: [Errno 61] Connection refused

During handling of the above exception, another exception occurred:

Traceback (most recent call last): File "/Users/zinc-ops/Documents/GitHub/tendermint-tax/venv/lib/python3.9/site-packages/requests/adapters.py", line 440, in send resp = conn.urlopen( File "/Users/zinc-ops/Documents/GitHub/tendermint-tax/venv/lib/python3.9/site-packages/urllib3/connectionpool.py", line 637, in urlopen retries = retries.increment(method, url, error=e, _pool=self, File "/Users/zinc-ops/Documents/GitHub/tendermint-tax/venv/lib/python3.9/site-packages/urllib3/util/retry.py", line 399, in increment raise MaxRetryError(_pool, url, error or ResponseError(cause)) urllib3.exceptions.MaxRetryError: HTTPConnectionPool(host='135.181.60.250', port=26657): Max retries exceeded with url: / (Caused by NewConnectionError('<urllib3.connection.HTTPConnection object at 0x11bb5e610>: Failed to establish a new connection: [Errno 61] Connection refused'))

During handling of the above exception, another exception occurred:

Traceback (most recent call last): File "/Users/zinc-ops/Documents/GitHub/tendermint-tax/tendermint-tax.py", line 60, in txs = util.historical_txs(rpc, query) File "/Users/zinc-ops/Documents/GitHub/tendermint-tax/lib/util.py", line 51, in historical_txs res = tx_search(rpc, query, per_page=str(per_page)) File "/Users/zinc-ops/Documents/GitHub/tendermint-tax/lib/util.py", line 43, in tx_search resp = post(rpc, json=q) File "/Users/zinc-ops/Documents/GitHub/tendermint-tax/venv/lib/python3.9/site-packages/requests/api.py", line 117, in post return request('post', url, data=data, json=json, **kwargs) File "/Users/zinc-ops/Documents/GitHub/tendermint-tax/venv/lib/python3.9/site-packages/requests/api.py", line 61, in request return session.request(method=method, url=url, **kwargs) File "/Users/zinc-ops/Documents/GitHub/tendermint-tax/venv/lib/python3.9/site-packages/requests/sessions.py", line 529, in request resp = self.send(prep, **send_kwargs) File "/Users/zinc-ops/Documents/GitHub/tendermint-tax/venv/lib/python3.9/site-packages/requests/sessions.py", line 645, in send r = adapter.send(request, **kwargs) File "/Users/zinc-ops/Documents/GitHub/tendermint-tax/venv/lib/python3.9/site-packages/requests/adapters.py", line 519, in send raise ConnectionError(e, request=request) requests.exceptions.ConnectionError: HTTPConnectionPool(host='135.181.60.250', port=26657): Max retries exceeded with url: / (Caused by NewConnectionError('<urllib3.connection.HTTPConnection object at 0x11bb5e610>: Failed to establish a new connection: [Errno 61] Connection refused'))

opened by pmorrow90 1

Example given in the README fails

$ python tendermint-tax.py --rpc  https://rpc-juno.itastakers.com --address juno175q6smvgnuec5e62rs4chnu5cs8d98q2xgf4rx --ticker JUNO --fystart "2021-01-01" --fyend "2021-12-31" --outfile "juno.csv" -v
2022-01-07 13:33:38 INFO: Querying RPC for transfer.recipient='juno175q6smvgnuec5e62rs4chnu5cs8d98q2xgf4rx'
2022-01-07 13:33:41 INFO: Computing inflows and outflows for juno175q6smvgnuec5e62rs4chnu5cs8d98q2xgf4rx
Traceback (most recent call last):
  File "/home/x/build/tendermint-tax/tendermint-tax.py", line 53, in <module>
    inflows, outflows = util.inflows_outflows(txs, args.address)
  File "/home/x/build/tendermint-tax/lib/util.py", line 145, in inflows_outflows
    inflow = extract_inflow_staking_rewards(es) + extract_inflow_staking_commission(es) + extract_inflow_transfer(es, my_address) #+ extract_inflow_spends(es, my_address)
  File "/home/x/build/tendermint-tax/lib/util.py", line 119, in extract_inflow_transfer
    return extract_transfer(events, 'transfer', 'recipient', my_address)
  File "/home/x/build/tendermint-tax/lib/util.py", line 113, in extract_transfer
    v = udenom_to_int(v)
  File "/home/x/build/tendermint-tax/lib/util.py", line 76, in udenom_to_int
    return int(udenom.split('u')[0])
ValueError: invalid literal for int() with base 10: '630713615ibc/008BFD000A10BCE5F0D4DD819AE1C1EC2942396062DABDD6AE64A655ABC7085B'

opened by lachesis 1

Merge Error for cosmoshub chain

Getting the following error

(venv) ➜ tendermint-tax git:(main) ✗ python3 tendermint-tax.py --chain cosmoshub --address [cosmoshubaddress] --ticker ATOM --fystart "2021-01-01" --fyend "2021-12-31" --outfile "cosmos.csv" -v 2022-02-28 14:40:41 INFO: Querying RPC for transfer.recipient='[cosmoshubaddress]' 2022-02-28 14:40:42 INFO: Computing inflows and outflows for [cosmoshubaddress] 2022-02-28 14:40:42 INFO: Querying RPC for the UTC time of each relevant block height 2022-02-28 14:40:42 INFO: Querying historical pricing data on ATOM 2022-02-28 14:40:48 INFO: Computing historical fair market value (FMV) for ATOM 2022-02-28 14:40:48 INFO: Aligning blocks with historical pricing data Traceback (most recent call last): File "/Users/zinc-ops/Documents/GitHub/tendermint-tax/tendermint-tax.py", line 101, in merged_df = pd.merge_asof(inflow_outflow_df, fmvs_df, on='time', direction='nearest') File "/Users/zinc-ops/Documents/GitHub/tendermint-tax/venv/lib/python3.9/site-packages/pandas/core/reshape/merge.py", line 580, in merge_asof op = _AsOfMerge( File "/Users/zinc-ops/Documents/GitHub/tendermint-tax/venv/lib/python3.9/site-packages/pandas/core/reshape/merge.py", line 1740, in init _OrderedMerge.init( File "/Users/zinc-ops/Documents/GitHub/tendermint-tax/venv/lib/python3.9/site-packages/pandas/core/reshape/merge.py", line 1623, in init _MergeOperation.init( File "/Users/zinc-ops/Documents/GitHub/tendermint-tax/venv/lib/python3.9/site-packages/pandas/core/reshape/merge.py", line 699, in init ) = self._get_merge_keys() File "/Users/zinc-ops/Documents/GitHub/tendermint-tax/venv/lib/python3.9/site-packages/pandas/core/reshape/merge.py", line 1858, in _get_merge_keys raise MergeError(msg) pandas.errors.MergeError: incompatible merge keys [0] dtype('<M8[ns]') and datetime64[ns, UTC], must be the same type

opened by pmorrow90 1
Script is giving me a completely empty csv

Ran script on address, gave me an empty CSV

➜ tendermint-tax git:(main) source venv/bin/activate

(venv) ➜ tendermint-tax git:(main) python3 tendermint-tax.py --chain juno --address [junoaddress] --ticker JUNO --fystart "2021-01-01" --fyend "2021-12-31" --outfile "juno.csv" -v 2022-02-28 14:29:09 INFO: Querying RPC for transfer.recipient='[junoaddress]' 2022-02-28 14:29:11 INFO: Computing inflows and outflows for [junoaddress] 2022-02-28 14:29:11 INFO: Querying RPC for the UTC time of each relevant block height 2022-02-28 14:29:36 INFO: Querying historical pricing data on JUNO 2022-02-28 14:29:49 INFO: Computing historical fair market value (FMV) for JUNO 2022-02-28 14:29:49 INFO: Aligning blocks with historical pricing data 2022-02-28 14:29:50 INFO: For the FY, computing FMV at time of receipt 2022-02-28 14:29:50 INFO: Computed net liability as $0.0 2022-02-28 14:29:50 INFO: Writing CSV to juno.csv (venv) ➜ tendermint-tax git:(main) ✗

opened by pmorrow90 1
Improve the way we get UTC times from block heights

Currently, we hit the RPC once for every transaction, as this is how we get the UTC time of a particular block height.

This makes getting the time of block height slow and heavy on the RPC. Is there a better way to get the times of block heights? Is there a better endpoint to use?
enhancement

opened by elsehow 0
Implement `--fiat` flag

Currently, we only find FMV valuations in USD. We could support more currencies.

I would recommend doing this by finding historical conversions between USD and the fiat in question. This is the most robust solution, as these conversion rates invariably exist. We would align them to the historical Osmosis market data to produce an FMV in the target fiat.
enhancement

opened by elsehow 0
Identify airdops, stakedrops

Currently, we can't tell what your balance is at network genesis.

We should get historical balances to identify stakedrops.

See this gist for how to use the RPC to do gRPC stuff - not sure if it will work for our purposes, though.
enhancement

opened by elsehow 0

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