I noticed when using Koinly and other crypto tax software, that the missing cost basis is a big focus - if you cant show where you’ve deposited, withdrawn, and traded crypto, it looks as if you received it for free which increases how much you have to pay in capital gain taxes.
I’ve added the Gala nodes I purchased into Koinly via the Ethereum wallet, and even tagged the node purchase transaction as a cost. Afterwards I went through TurboTax to classify running the nodes as a business so I can write off the cost of the nodes, as well as electricity, the laptops I purchased, etc.
The issue is that Turbo tax adds this to the total taxes due even though the profits were already calculated in the Koinly csv file.
So how do you classify the nodes as a business on Turbo Tax and write off the node costs without also removing the node transaction history from Koinly and increasing the amount of capital gains due to no cost basis?