Deleted Ledger BTC wallets causing a problem

Koinly Support
#1

I currently have three BTC wallets on my Ledger Nano. All have xpub keys which I have entered into Koinly. they contain in total about 320 transactions.

I used to have several other BTC wallets on the Nano but I deleted them last year because I no longer used them. Since the remaining three BTC wallets on my Ledger have transaction I’m guessing the deleted wallets also contained transaction history that was important? Is it possible to undelete BTC wallets on a Ledger? Do I need the transactions details these deleted wallets contained in order to produce an accurate Koinly report or am I not understanding things correctly?

#2

Yes you need to resolve the deleted wallets, or koinly will show values going out to an unknown address as a disposal, and transfers in as deposits, which both have tax implications. Depending on how many transactions you have, you can review deposits and withdrawals in koinly and if you actually know that transaction must have been to/from an old BTC account you owned, just add that BTC address in a new wallet as your own and koinly will update using that.

#3

I’m not sure I would know by looking at my transactions in Koinly exactly which addresses belonged to the deleted Ledger Nano addresses I mentioned above.

I wouldn’t know how to move any addresses I thought might be one of those deleted addresses into a new wallet. If anyone could provide an idiots guide on how to do that that I would be extremely grateful.

I feel like I have dug a deep hole for myself here and I don’t know how to get out of it. To make matter worse my Koinly account today suddenly for no apparent reason got stuck in the ‘sync in progress’ mode and I can’t upload any data from my exchanges or wallets and therefore cannot complete my tax return. My Koinly account is basically frozen and no one from Koinly is getting back to me to resolve the problem.

#4

You just add a new wallet using the address you identified in the transaction. Koinly will do the rest, it will change the transaction to a Transfer as it now knows you own wallets on both sides of the transaction.

#5

So Forest, sorry to be a thick-it, but if I open my Ledger Live app and click on new Btc Account (I guess an account is also called a wallet?)…how do I link a Btc address to the newly created account? and how do I establish the Xpub, which I will need to provide Koinly when I create a new wallet for Koinly to read,

#6

In Ledger Live, you can select the bitcoin account, click the spanner icon, click Advance, then you can see your xpub address for that account.

#7

I am OK with using the spannner and ‘advance’ to see the Xpub. What I am unsure about is how I grab a Btc address and assign it to an account. For example, Xe223pRqttWvn0ffd. Lets say thats a Btc address. How do I set up a Btc account in my Ledger Live that uses this Btc address to recieve and send Btc?

#8

Can you explain to me after I have created a new Btc account (wallet) in my Ledger live how I assign a particular Btc address to that account?

#9

You can’t do that, Ledger assigns the accounts itself. All koinly needs is the xpub address and that covers however many addresses Ledger uses. You can’t take an existing BTC address from outside Ledger and ask Ledger to start using it. Also ledger will not “sweep” a wallet to get funds from it. You have to transfer funds in to the address that Ledger gives you.

#10

I think there is a very simple way to get Ledger Live to recover all BTC wallets ever used. You had posted a second thread about the same problem, where I described the solution.

How to deal with a deleted Ledger Live Btc account

If that doesn’t work against all expectations, you will at least get information about the “freshAddressPath” values used by Ledger Live so far. On this basis, a recovery with an Electrum software wallet would also be possible. Koinly in turn supports Electrum wallets.

#11

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