If you stake some crypto, and also trade some un-staked of the same

Tax Questions
1

Here is my use-case (USA / FIFO basis)…

  • I have old stack of ADA held over a year in Daedalus wallet
  • I have an account at Binance where I day-trade ADA

My question: Is the day-trading of ADA at the exchange separate from the legacy staked ADA in my Daedalus (affects the capital gains accounting).

If they are separate “asset pools?” how does Koinly handle this ?
THANKS IN ADVANCE !

2

I received this reply from email query :

You will be able to find an option called ‘Wallet-based cost tracking’ on the settings page. If you keep this option turned on, all the wallets will be considered as a different pool which would otherwise be considered as a single pool. This will keep the cost basis of the ADA in your Daedalus wallet as well as Binance separate.

Ref: https://help.koinly.io/en/articles/3661351-cost-tracking-method-explained

3

This topic was automatically closed 60 days after the last reply. New replies are no longer allowed.