Describe the problem:
I am trying to report some lost coins
Which exchange/wallet is this regarding?
BSC20 Private Wallet
How did you import data into this wallet?
Manual transaction input
What have you tried to fix this so far?
Tagging the coins as lost.
Hi there,
I am trying to report some coins as lost, however, it is only reporting the cost basis of the coins as the loss on my final tax report. I need to claim the market value of the coins on the day that I lost them instead. How can I do this?
The ‘Lost’ label will only ignore any gains from being realized but will not actually realize the entire transactions as a loss.
This is because most countries don’t allow lost assets to be claimed as losses against the gains but some countries do allow this.
If you want this withdrawal to be reported as a realized loss of the full amount then you can keep it as a regular withdrawal but manually set the ‘worth’ of the transaction to $0. This will tell Koinly that you sold the asset for $0 so you will realize all the loss.
I wouldn’t recommend doing this unless you are sure it is allowed in your country.