The CTC Magic toggle, found under Settings > Tax > CTC Magic, is enabled by default and can impact your balances and reports. It addresses situations where a transfer between two imported sources has data for only one side—either the outgoing "Send" or the incoming "Receive."
This feature is designed to handle limitations in provided data. However, it's important to review these transactions for accuracy and consult a tax professional to confirm they align with your specific circumstances.
Example
If both Kraken and Binance are imported, but only the "Receive" transaction from Kraken is included, enabling this toggle will automatically generate the missing "Send" from Binance. The system groups these as a Transfer, ensuring accurate cost basis and balance transfers.
Toggle On
The function this toggle provides involves the automatic generation of a missing part of a transfer where conditions are met. More information on what a transfer is can be found here. There are strict conditions that have to be met to allow this, to ensure we are only filling in data that is known to be missing:
Both the 'from' and 'to' sources have to be imported
A loose match with another transaction cannot be found
What this means is that anytime you have two sources imported, but one side of a transfer (that is a send or receive) is missing, the other side will automatically be generated, creating a Transfer and properly moving the balance from source A to source B.
In the event that the data that was missing somehow gets imported, the automatically generated section of the transfer will be removed, and the imported data will take its place as if it was never there.
Toggle Off
When the toggle is marked as off, any transactions that had this generation applied will have it reverted. The data will be as if it was never applied in the first place. You can toggle it on again at any point and the system will attempt to find transactions that satisfy the criteria, and will apply it again. Doing this will not compromise your data.
How to identify these automatically generated transactions?
Should you desire to check the transactions that this has impacted you can do so in the Transactions page.
The transactions can be filtered for using the Other Filter - Only show smart-categorized transactions
Note: Having this filter selected can show up other smart categorized transactions also. This function impacts transfers only, and you can tell them by hovering over and seeing the tooltip as in the image below. The transactions have a visual symbol of a 4 sided star on them.
If you feel the automatic generation was not warranted, necessary or was incorrectly creating transactions, you can toggle this off and the data will revert back to the original state with no consequences.
