How to change a record to Long Term Gain?

I loaded some cold wallet storage coins to a hot wallet, then I deposited those coins onto an exchange. I then sold those coins, all in the same day. I originally purchased the coins in 2017, so a 50% discount should apply to them in my country. Koinly has treated each record as short term gain but they should be long term gain. How do I modify a transaction to reflect this as the date time stamp in the record say I bought them on the day I deposited them but this is incorrect?

Hi!

It’s not possible to manually set Long/Short term. This is decided by the acquisiton date from the dataset you have impoted.

We track the holding period and preserve it when you make transfers to/from wallets so unless you havent added all your wallets to Koinly then this shouldnt be the issue.

I think the problem here is that you are expecting the discount to be applied per transaction, but that is not the case. You will see the full amount of profit on each individual transaction, and in the final report we generate, we will categorize your gains from Long and Short term lots and then the discount is applied by your accountant or CPA - NOT KOINY (Unless you’re from Australia, then the ATO report will show the discounted rate)

If you want us to take a further look, please email [email protected] :+1:

Hi Ali, thanks for that, I am from Australia and the report doesn’t show the discounted amount. I did experiment previously and I added the other wallets to Koinly. Koinly still classifies the acquisition date as the transfer date and the original purchase price as the market value at that time (though I am able to change that value to what I paid in 2017, just not the acquisition date).

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