My capital gains loss is way too high!


I am having troubles with my koinly tax report and ready to pull my hair out as it’s due to my tax preparer last Friday and I still couldn’t get the correct info to her! I’ve imported all the necessary csv files into Koinly but for some reason it’s using a very high cost basis so the final result shows that I have a capital gains loss of almost $100K, about 10x what I’d calculated manually! I wish there is a way to adjust the cost basis for each purchase to reflect the correct cost to begin with!

When I googled for help, there doesn’t appear to be a way to make such adjustments unless you manually delete and enter each entry. Unfortunately I do not have the time, which was why I subscribed to Koinly. I had trouble last year as well but I didn’t really sell any crypto so there wasn’t much to report. Do people have the same issue that I do? I am really thinking about switching to a different software next year because I’ve spent too many days/hours on this and it’s supposed to be quick and easy for a paid program. Any suggestiion for a quick fix so I could get the report to my tax preparer before she charged me to file for an extension?

Thank you!

Which exchange/wallet is this regarding?

How did you import data into this wallet?

What have you tried to fix this so far?

Hey @milo3126,

Could it be that you are referring to proceeds from sales and/or acquisition costs? If so, please refer to this article.

In any case, we’d love to have our support team help you out further. They’d be able to investigate this in detail for you to find a solution. Can you please reach out to us so we can analyze your transactions and reports?

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