ETH - ETH2 and ETH2-ETH on Coinbase

Koinly Support
1

Describe the problem:
In 2021, I staked some ETH on Coinbase, and it was marked as a swap from ETH2 to ETH. Now, Coinbase no longer uses ETH2 as a name for the staked ETH, and I am getting a message that my ETH balance does not match up with my reported balance (it appears that Coinbase doesn’t use the ETH2 moniker anymore). How do I fix this in my wallet? Do I swap back? What date should I use? My ETH is still staked in Coinbase, so I haven’t changed anything since staking in the first place in 2021.

Which exchange/wallet is this regarding?
Coinbase

How did you import data into this wallet?
API key

What have you tried to fix this so far?
I have contacted support but my replies are from the AI and not always relevant. I figured other people must have this problem so I wanted to pose my question here.

2

Hi @Holly237

There should be a withdrawal of ETH2 in your Coinbase wallet with the description “retail_eth2_deprecation”. You should edit it and change it to an exchange of ETH2 for ETH. You can tag it as a swap if you believe it should be a tax-free transaction.

If this does not apply to your transactions, please reach out to our support team to help you sort this out.

3

To add on to Aria’s comment, Koinly had 2 transactions with the “retail_eth2_depreication”. I couldn’t simply edit one of them to “exchange”

I had to select both transactions, then at the bottom of the page I selected the option to Merge.
Then they became one transaction and i was able to apply the “swap” tag.

Hope that helps someone else.