Highest balance US Report displays incorrect highest balance
H
Hollywood cerise Mongoose
From my understanding, the highest balance report associated with US tax reports should determine the highest value of a wallet based on a particular asset. This is not the behaviour observed. It appears to me that the highest balance is determined based on transaction activity. When generating the report, many wallets (which I have no activity for) mark 01/01/2024 00:00:00 as the moment of the highest balance and other wallets mark the moment I add an asset to that wallet (without any subsequent transactions) as the moment of the highest balance
Personally, I would like a report which tracks the maximum value of an asset across all wallets and reports the maximum along with the date of that maximum value. This is useful when reporting Form 8938
H
Hollywood cerise Mongoose
Assuming that the code is structured in such a way that there is a persistent storage value for the highest balance which is populated with the value at the start of the year and then compared against for each subsequent transaction, a simple solution to this issue might involve introspecting price changes between the current transaction and the previous transaction as the underlying asset balance would not have changed and thus the price of the asset alone is sufficient to determine the max value. Updates to the maximum value based on transactions is still necessary as the underlying asset balance would change