Cost basis for self transfer network fee is wrong

[koinlyhelp11]

Describe the problem:

I noticed that on all of my self transfers from an exchange to a cold wallet for example, the crypto that is being disposed of is NOT the first crypto that was purchased (I.E. FIFO is not being used), even though the message in the “Cost analysis” section of the transaction states that FIFO was used to calculate the cost basis for the fee. For example, on the screenshots I will post, the “Cost analysis” states that the cost-basis for the transaction fee was calculated using FIFO, but actually the crypto that is being disposed of is the last crypto that was purchased, not the first. This is resulting in incorrect cost basis and therefore under-reported capital gains.

Which exchange/wallet is this regarding?

Coinbase → Cold wallet

How did you import data into this wallet?

Coinbase API

What have you tried to fix this so far?

None, I’m unable to edit this transaction and my tax lot method selected in settings is already FIFO.

[Brian]

I’m experiencing this also. I’m using HIFO, but in each case my transfer fees have been disposed of from the lots with the lowest coin purchase price. I reported this to Koinly and was told that they “deduct the fee from the last lot selected to transfer” and he subsequently created a feature request to choose to have it deducted from the first lot, but that doesn’t accurately capture my issue. I believe it should follow the cost basis method that’s being used.

[Aria_Koinly]

Hi @koinlyhelp11

Please reach out to our support team via the in-app chat to look into this.