Coinbase syncing accurate or not?

So I forgot to file my crypto capital gains on the 2021-2022 tax season, so I was going to amend my return and include it. On coinbase for 2021 it says my estimated capital gains are 30k. When I import my data to koinly, its telling me I have capital gains of -1700. Which is correct?

Hey there @BrandonDu :wave:

So there could be a number of reasons why Koinlys calculated capital gains are different to that on your exchange. Generally speaking, an exchange would not have a full view of your trading history. For example, if you have traded on a different exchange like Binance, then this data may not be present in the Coinbase calculations.

Now, I would need to take a look into your account to better understand this but I am assuming that you trade only on Coinbase, and the only data you have imported to Koinly is from Coinbase, is that correct?

The gains figure you see in Koinly is calculated using your chosen cost-basis method for the data you have imported. So I would also recommend making sure that your report in Koinly is accurate. :+1:

There could also be the possibility that the Coinbase estimated capital gains is incorrect, but let’s not point fingers here :wink: .

If you need some tailored support on this, then please reach out to us at [email protected] or use LiveChat!

Best wishes,

Ali :rocket:

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