Problems with my FTX wallet need to resolve to file taxes

Koinly Support
1

Wallet: FTX (FTX)
Transactions: 34595
Imported with: CSV

  1. Start date is set
  2. No airdrops/forks found
  3. API does not allow access to: Margin trades
    ---- Margin trades on FTX are imported as Pnl so you will not see any actual trades, only the profit/loss from the trades
  4. 40 transactions are missing purchase history
    ---- Missing 1.291034 LTC on 2021-03-21 01:24:10 UTC
    ---- Missing 0.0276 BTC on 2021-03-23 05:10:23 UTC
    ---- Missing 27935.81739036 XRP between 2021-03-24 20:25:52 UTC and 2021-10-05 20:57:16 UTC
    ---- Missing 68.63347669 SOL between 2021-09-12 23:56:05 UTC and 2021-10-26 18:05:40 UTC
2

Hey @Paul_Bennett

Since the FTX API is offline, all changes you make must be done manually by yourself in Koinly.

The website is down too, so if you don’t have CSV files downloaded, you wont be able to any longer.

These errors you see can be ignored, and you wont be penalised by your tax office. If you want to resolve them, you must add in purchasing data in the form of Deposits of the asset.

I hope that makes sense1

3

Hi Ali. Part of that makes sense, but I’m not sure what you mean by adding purchasing data? Can I not just purge the unresolved transactions so I can download my tax form? I need help with this! I’ve paid for this product and need to file

5

@Paul_Bennett hey!

You can still download a report even with these errors. It will basically mean that a cost of zero is assumed on those assets you disposed of, and you may end up paying more tax on the gains as a result.

You won’t be penalised by your tax authority for this :+1:

What I meant about adding the purchases, is that you can enter manual deposits into Koinly for an asset. A manual deposit will be seen as an investment at market value so it will assign a cost to the asset, rather than it be 0…make sense?

Of course, any manual transactions you add should be representative of factual data, as you may have to provide proof if audited…and this may be tricky as FTX is kaput :man_shrugging:

I would recommend you consult an accountant or tax professional in your country to understand how to declare this as they may have rules on exchanges that have gone bust. :thinking: