Coinbase Pro Transaction Mismatch and taxable event

Koinly Support
1

Hi I have setup Coinbase Pro and Coinbase account and downloaded txns via API sync. I have transferred 0.1 BTC from Coinbase PRO to BLOCKI. So, these coins are transfered first from Coinbase Pro to Coinbase and from there to BLOCKFI. However, as you can see from below, Coinbase PRO to Coinbase Transfer is marked as “SEND” and is triggering a profitable sale as shown below.

Mar 2, 2021
Send COINBASE PRO —> Coinbase
6:10 am -0.1 BTC ($3000.19 cost basis) =$4858.12 ($1857.9 profit)

A matching transaction in the Coinbase Account looking like below:

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IMG-2805×256 13.9 KB

I tried to fix this by manually changing the Coinbase Pro “Send” transaction to a Transfer transaction, but that is causing new issues such as calculated final account balance on the side of Coinbase to increase by the transfered amount (0.1 BTC) and also coins are losing the cost basis.

Please help.

2

Here is Coinbase Pro account Transaction image (can’t attach two images in same post restriction!!)

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IMG-1838×165 8.43 KB

3

Would love to know if you got an answer about this @nhmtns

As someone who’s looking to start using/paying for Koinly I want to be assured that it actually works correctly and that I’m not going to have to go over thousands of transactions manually to check them all.

4

This is an easy fix. Merge the Coinbase, and the Coinbase pro transaction with the merge feature. fixed.

5

Hey guys :wave:

Thanks for highlighting this!

Our developers are aware that some transfers between Coinbase and Coinbase pro are not being merged automatically.

Please merge these yourself for now, you can do this by selecting both Send/Deposit and selecting Merge at the bottom. We hope to roll out a fix for this very soon, you can keep track of this bug update here.

Once again, thanks for your patience with this and if you need further guidance just get in touch via email on support@koinly.io. :slightly_smiling_face:

Best wishes,

Ali :rocket:

6

Thanks @Ali_Koinly. Given this is a critical functionality, hoping bug fix gets rolled out soon!

Also, special thanks to @Artjoms_Kvacovs in support, who not only responded to my email suggesting manual merge, but he went extra mile, reviewed my account and merged a couple of other transactions too! I didn’t expect this level of support! Thank you!