Cost basis for transfer from Coinbase to Kucoin

Koinly Support
1

I am receiving a cost basis of zero for a number of trades. It appears the initial source of the problem is approximately 7500 USDC that was transferred from Coinbase to Kucoin and Koinly is not correctly picking up that cost basis. It is contributing to my capital gains being reported almost 12000 higher than they should be. All of my transactions from both Coinbase/Coinbase pro and Kucoin are uploaded via API and all trades were done last year. I tried uploading the Kucoin trades via CVS files and that did not help. The accounts were opened last year and none of the issues involve trades that carried into 2022. Basically, I would like the ability to manually add my cost basis to the trades in question. Is that not possible?

Review needed

We have assumed a cost of zero for some assets that were sold for $12,110.20. You can reduce your taxes by approx. $1,513.78 by fixing some issues in your wallets. You may also ignore this warning and submit your tax reports with the zero cost basis (this is allowed by tax authorities). Learn more

Wallet: KuCoin (KuCoin)
Transactions: 8367
Imported with: API

  1. No airdrops/forks found
  2. This API has certain limitations:
    ---- Data prior to the Kucoin upgrade on 2019-02-18 may be missing
    ---- Transfers to/from Futures account should be added manually
  3. 19 transactions are missing purchase history
    ---- Missing 7495.07274824 USDC between 2021-08-11 00:47:00 UTC and 2021-10-16 23:37:30 UTC
    ---- Missing 62.193342 NANO between 2021-10-30 01:02:05 UTC and 2021-10-30 15:40:02 UTC
    ---- Missing 6.23902663 AVAX between 2021-11-03 01:16:57 UTC and 2021-11-03 01:18:01 UTC
    ---- Missing 25.0 NEAR between 2021-10-15 02:56:48 UTC and 2021-12-10 01:02:04 UTC
    ---- Missing 4950.53687539 USDT between 2021-09-20 12:39:28 UTC and 2021-12-13 20:41:32 UTC
    ---- Missing 53.76317185 NTVRK between 2021-10-28 19:17:17 UTC and 2021-10-28 19:17:24 UTC
2

Hello!

Alex from Koinly here :slight_smile:

The best thing to do in these scenarios is to fix the transfer itself so that it correctly carries over the cost-basis.
I know there’s been some issues with transactions coming in with wrong timestamps which can cause the automatic merging to fail when trying to create transfers.

You can usually fix them by finding the “Send” and “Deposits” that haven’t been merged, and then just merge them manually.

There’s an article here that explains transfers a bit more:
https://help.koinly.io/en/articles/3661312-how-koinly-handles-transfers-between-your-own-wallets

But if you’re not able to find a way to sort out the discrepancy then please send us an email at hello@koinly.io so we can take a closer look! :slight_smile:

Best regards,
Alex