Deposit is handled with 0.00 costs basis

[Someone2]

Describe the problem:
I have deposited ~190 USDC and then used this to buy Matic a few minutes later.
Koinly handles this with a cost basis of 0.00 Euro which is obviously not correct.

I am using FIFO per wallet and there haven’t been any other transactions with USDC before, so there must be something wrong with this particular transaction.

Which exchange/wallet is this regarding?
Polygon

How did you import data into this wallet?
Direct sync with the blockchain

What have you tried to fix this so far?
Checked the cost analysis which shows that the deposit was used for the exchange.

What can I do to fix this?

[Ali_Koinly]

Hey @Someone2

If you expand the Exchange transaction at 6:52 PM and navigate to the Cost-Analysis tab, it should tell you in this section which Lot of USDC it is taking into consideration when calculating the p/l.

FIFO will use the first lot of USDC you have invested in, here it looks like you want Koinly to apply the 157EURO cost basis - that would be LIFO (Last in, First Out).

It’s difficult to say without investigating this further in your account but from a glance, it seems that it’s treating that deposit of USDC as though you got it for free. Was it a transfer from a different wallet, or perhaps a purchase/conversion from FIAT?

Some more info would be useful, but it would be best if you got in touch with us via email so we can take a look at the account in more depth.

Best,
Ali

[Someone2]

Thanks for the quick reply.

I searched through the previous transactions, and I think I found the issue:

When adding liquidity, those AM3CRV tokens are worth ~1 USDC. But later they have a cost basis of nearly 0:

What’s the best way to fix this?

Thank you!

[Ali_Koinly]

@Someone2 hey there!

Sorry for the delayed response, could you email live support so we can take closer look for you?

Mention this thread in your email