How should I tag Private Sale transactions

Hi,

I’ve history of transactions for different private sales where I’ve sent ETH and received recently created tokens and some of them also sends locked version of those tokens for short time to represent upcoming tokens. Koinly marks those as “No market price found for TOKEN_NAME on this date.” Should I tag incoming ones as Reward ? Airdrop? Other Income? And what about the send ones, as Cost? Lost? Gift? or something else?

Do I need to do something else for these transactions?

Hey @Dali

Thanks for your question. :wave:t2:

Before I go any further, I’ll mention we aren’t tax advisors so it’s best to check with an accountant or your local tax authority to make sure these are handled correctly.

Generally, the receipt tokens you’re receiving are worthless so you could delete these and then treat the remaining transactions as an ICO. So you’d have a Send transaction and a Deposit when you finally receive the real tokens.

Take a look here, this explains how to make sure the cost is set correctly for them:

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