All of my liquidity out events have a cost basis of 0. Liquidity in events seem to have a cost basis.
The result of this is I’m seeing large gains when in fact there should be a much smaller gain, and in some cases a loss.
Is anyone else experiencing this? What’s going on? Am I reading it wrongly?
Anyone found a solution as to how to fix this? Everytime i transfer funds into a pool or use liquidity my Cost basis adjusts to zero.
There are so many good questions in this forum, many in fact of which I have but none have been answered by the koinly team. I’m not sure what the best way to get answers is for this product. It works pretty well but simple things like Liquidity Staking and how to handle it is vague.
Same problem. Liquidity in has a cost basis. Liquidity out no longer has any cost basis. This is happening for me with YFI and 1INCH and UNI.
Is Koinly getting confused because the amounts that go in and out of lliquidity pools are sometimes different?
Koinly please help.
Cash out ie taking EUR or BUSD or USDT should NOT create a tax event.
ONLY the sale of a coin say BTC or ETH.
So if you bought BTC at $10,000 and now you sold it for $45,000 there should be a $35,000 gain, ie a TAX EVENT.
Then, you can cash out or buy other coins.
As such the “cash out” is not taxable but the sale of coin at a profit is.
Yes, but that isn’t what’s happening. Consider this example:
This is wrong. The cost basis should still be $10,000.
the same problem here.
i am seeing the exact same issue in binance smart chain. whenever i unstake from a defi pool back to my metamask wallet and do a coin swap with the unstaked coin - the cost basis is always the cost at the moment the swap was done which is not correct.
lot of my defi tokens have been a loss for me but koinly is not able to mark them as a loss as it treats ever y coin exchange as a new coin swap at the current market price…how do ever report losses in defi pools ? this is messed up
same for me. At least it should possible to set the cost basis yourself in that case…
I’m just manually adding the prices. Got a mammoth undertaking to sort out 26k transactions over the last year!
I’m having the exact same issue and was about to do the same… Are you going back to the original pool deposit event to track the correct cost basis for each pool withdrawal?
It does seem like Koinly fundamentally does not work with DeFi… Seems that any response from support is lacking any relevant detail 
Starting to think that it might be best to go to one of the many more expensive competitors that support DEFI properly might be an easier route.
But you still can’t add the cost basis if you add them manually so that dosen’t help.
i figured it out homies !! whenever u stake to a pool , mark the transaction was “sent to pool” and whenever u unstake the same amount from the pool - mark it as " received from pool" . The tokens u earned can be marked as deposit so no issues there. if u do the above 3 then koinly keeps track of the correct cost basis . i figured this shit out finally and am so glad i did it. i have sent 2 snapshots..first one where koinly got my cost basis was wrong . second one after i did the above steps m, my cost basis was calculated correctly as a loss as i took a big loss on vikign swap. hope it helps u all.
** wrong calculation **
** correct calculation **
I have transactions that are marked “liquidity in” and “liquidity out” that have all wrong cost basis, but i cannot mark those as “sent to pool”, only mark them as a swap.
Any ideas?
Here is my way to handle the situation, as I have many BSC liquidity ins and outs, and I just came to this realization. Is it right, perhaps.
Let us take a CAKE-LP example.
I supply Token 1 and Token 2 to create CAKE-LP. In Koinly, the Liquidity Ins are token 1 and token 2 each with a cost basis. Now, the CAKE-LP shows as a Withdrawal in Koinly equal to the sum of the amounts of Token 1 and Token 2. Leave that as a withdrawal with the loss.
When you finally perform the Liquidity Out, they will show as gains because of no cost basis, but they are the value of the tokens at the time you perform the out.
So, when you calculate the withdrawal and the liquidity out, it should equate to your actual gain or loss.
This is my story and I’m sticking to it until…a better answer.
this isnt right as you can see from my soup entries.
please koinly advice
