Correcting erroneous capital gain


Koinly displays an erroneous capital gain from one buy and sell in Bittrex. I imported the data using Bittrex APIs.

Basically, I bought 5 ETH in EUR and I sold them in USD two days later.

The gain is 1700 AUD, but Koinly says that my gain is 10 000 AUD!

How can I correct that gain?

Best regards,

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I found out that the problem comes from FIFO method to compute gains. LIFO gives very different results.

@R_R1 Hey bud :wave:

This could be for a number of reason, my guess is that its to do with the cost-basis method, which does not necessarily mean that the calculation is incorrect.

If you expand the “Sell” transaction, and navigate to the Cost-Analysis tab, you will see how Koinly worked out that profit figure.

Though you purchased ETH on Aug 7th, the “Sell” on Aug 17th is not using that as it’s cost-basis.

Let me know how you get on and do get back to me if anything doesn’t look right.

Yes, the cost-basis method was the reason in this case !!!

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