Cost - why and how can this be gain, cost will always be loss

Koinly Support
1

Describe the problem:
The way koinly works Im paying taxes when I lose money

Which exchange/wallet is this regarding?
Yoroi

How did you import data into this wallet?
csv

What have you tried to fix this so far?
Reading other treads/trying to find setting to cost.

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When I transfer ADA I get gain on the transfer fee, but why ?
Its a cost, so it can never be gain.
If I bought/sold/swapped something then this would have been a gain.

With FIFO it should have been entire “cost basis”, since I loose what I payed for it
Would have been nice to set “FIFO except cost” where it could use LIFO or closest value if possible..

Or ss there something I just dont understand?
:crazy_face:

2

This article might help explain things.

https://koinly.io/blog/deducting-crypto-trading-transfer-fees/

3

@cryptothrowawa6

Thank you.
I just sent a mail to the tax office in my country and asked them about this, just incase :slight_smile:
But at least I understand why koinly is showing it like it does now.