I’ve just set up my Koinly account and imported all the data. I have found that my cost basis is around 3x too high. I have spot-checked some of the transactions and it seems that when I transferred from the exchange (Gemini) to my ledger hardware wallet, Koinly is seeing all the transactions as withdrawals (sales) rather than transfers to my own wallet. I assume that is why my costs basis is so high? What would be the best way to resolve this? Does it require all the transactions to be manually updated (there are 100s)? Thanks
My cost basis is very high on my printed return, which doesn’t seem reflect what I originally put in. My printed return says I have a cost basis of 180281.91, while I definitely did not put this much in myself. Is this incorrect or is it just reflecting a high amount of trading volume?
You should double check that the 8949 isn’t also showing inaccurate transactions. My dashboard is accurate but when i went to create an 8949 suddenly on the form there are crazy transactions like buying and selling 13 ETH on one day or buying and selling 49 BNB on another. They did not affect my capital gains but it sent my cost basis and proceeds to over $226k. I’ve submitted tickets but no response.