How do I add my costs (gas fees) to the cost basis of my trades? All my gas fees for transactions are showing up as costs not attached to the cost of the aquisition.
Thank you!
Sometimes you can merge the separate Cost tx (gas fees) with the Send/Withdrawal tx. You can do this if the Cost and the Send have the same tx hash/same time stamp. You have to remove the Cost label from the gas fees tx and then merge the 2 Send txs. When the 2 txs are merged, Koinly will add the cost of the gas fees to the cost base of the acquired crypto asset(s) for capital gains calculation purposes. I don’t know if this deals with your fact situation as “trades” come in so many variations.
Thanks. Most of my trades are NFT’s I am already merging the ETH with the NFT. Whenever I try to merge more than 2 transactions it doesn’t work. Is there a way to manually take care of these? I would love if it could show up properly in the tax reports.
So if I understand you correctly, when you buy an NFT on OpenSea using ETH you are getting 3 transactions: a Send for the cost of the NFT, a Cost for the gas fees, and a Deposit for the receipt of the NFT?
This is strange when you are paying ETH for both the NFT and the gas fees. This shouldn’t happen. However, if something like this is happening and all 3 transactions have the same hash/time stamp, try removing the label for the Cost tx first and merge the 2 Send transactions. Then merge the resulting Send tx with the Deposit tx.
If this is not working or your facts are different, then the only other thing I can suggest without more detail is to soft delete all of the transactions you would like to merge and enter a single tx manually using the data from the from the transactions that won’t merge.