My Proceeds and Acquisition costs is over $190,000?

Koinly Support
1

I’ve added all of my wallets and exchanges and have them synced. Koinly says there’s no issues.

I downloaded my 2020 tax report and my Proceeds from sales is over $190,000

My Acquisition costs is also over $190,000

  1. Is this the Adjusted Cost Basis (ACB) that I input into my income tax return?

  2. Why are these values so high? I’ve never once even had that much money in my entire life. Not even close…

2

I have the same issue. The disposal and acquisition numbers aren’t even remotely close to my crypto balances.

3

Yeah im getting proceeds and acquisition costs showing over $280k which I have never had before.

Petur_Koinly 4

Hi guys,

Your total proceeds and acquisition costs are the sums of all of your trades so these figures can be astronomically large for frequent traders (this is basically your total trading volume).

You can refer to this article for more info and let me know if you have any questions:

https://help.koinly.io/en/articles/4240620-proceeds-from-sales-acquisition-costs-are-very-high