How to do Uniswap v3 transactions Tax?

[J11]

Trying to import my ETH Metamask Wallet…

The Auto-Sync option of syncing my Metamask (ETH) Wallet brings errors: Some coins have “0$” value while in reality they are worth 5,000$.

I found out the reason for this is the lack of Uniswap v3 support (which is a joke tbh for a product of this price)…

There is nowhere any manual to be find on how to fix this issue. How am I supposed to correct it all manually? Where is the video tutorial for that? You have plenty of very basic UX videos but not a single documentation on how to fix this absolute crucial need of successfully/clean importing of v3 Tranasctions?!

It’s an absolutely crucial part of any DEX trader… I need help!

I tried to upload the CSV from Etherscan instead of Autosyncing it… But then it shows just hundreds of ETH trasnactions and does not even recognize a signle DEX trade correctly… How am I supposed to do my taxes like that? Seriously?!

[J11]

Support sends me just the FAQ page of the topic “Add Manual transactions” which is insufficient help and doesnt help me at all.
There needs to be a tutorial step by step on how to untangle this bs and add correcting data. The manual add function is absolutely terrible, tons of errors in parsing and theres no way to filter for specific coins or v3, therefore you need to do it one by one per hand.

Add v3 liquidity or your whole product is useless.

[Michael_Koinly]

Hi @J11,

Thank you for posting about this, and you are spot on that this is crucial for so many traders.

Uniswap V3 is currently exporting liquidity tokens as NFTs instead of LP Tokens. This has created some issues in our system, unfortunately. We are currently working on implementing seamless solutions for this.

To receive a notification once this issue is fixed, please add your vote to this Canny. I don’t yet have an ETA, though notifications will be sent out immediately when it’s ready to go.

We’ll use a workaround in the meantime.

Whenever you deposit tokens into an LP on Uniwswap V3, you will need to add a corresponding transaction.

Let’s say you deposit 100 USDT and 110 Matic into a USDT/Matic LP Pool on Uniswap V3.

You would need to add two Manual Deposit transactions of 50 NULL1 Tokens and then merge them with each transaction where you are sending USDT/Matic into the pool.

When you withdraw your USDT/Matic from the pool, you would then add withdrawals of the NULL1 Tokens and merge them with these transactions.

This would allow us to track the cost basis and impermanent loss of the Liquidity Pool.

We’ll have more details and guidance in our Liquidity In/Out resources. Scroll to the bottom of this page for instructions on how to manually add liquidity transactions.

If you have any issues through the process, please connect with our support team again. We’re keen to better assist and be more targeted by investigating your account for any discrepancies.

Thank you again, J11. Have an awesome day!

[Tim4]

Hi Michael. Thanks for the information. I agree this is a greatly needed feature.
In my case I have far too many Uniswap V3 transactions to be able to go through and manually adjust them all. Given that Uni V3 transactions all interact with the exact same smart contract (0xc36…e88) is there a way to filter transactions on this basis and recategorise them in bulk?
I found another crypto tax tool that was able to do this for up to 100 transactions at a time. It doesn’t link transactions belonging to the same pool or NFT, which becomes difficult to do anyway once you start topping up liquidity or removing only part of it, but at least goes some way towards solving the problem in an efficient manner, so I wanted to check if Koinly has a similar capability before subscribing to the other service.

[Michael_Koinly]

Hi @Tim4,

Thank you for your patience, and pardon my delay in response! I’m happy to provide any info to move the ball forward, brother.

I really appreciate you bringing this question to light! At the moment, the best way to filter would be filtering the manual transactions to bring up the Uni V3 txns. This would also include any other transactions that were manually added as well.

Our dev team currently has this feature planned to fix and include more advanced filtering options. This would certainly include smart contracts, txhash, amount, multiple wallets and coins, and multiple labels.

If anyone would like to be sent a notification once our dev team has this ready to go, please add your vote to the canny page in the feature link above!

Thank you again, Tim4! I appreciate you shining a light on this, and for considering Koinly! We’d love the opportunity to help generate your tax reports, man!

Have a wonderful day everyone!