Swapping XRP to SOLO on Sologenic shows as taxable loss

Koinly Support
1

Describe the problem:
Moved some XRP to Sologenic dex
Swapped XRP for SOLO
Koinly shows that I took a substantial loss on all swap trades. Is koinly not able to determine the difference between coins on the XRPL ledger?

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Which exchange/wallet is this regarding?

How did you import data into this wallet?
XRPL Wallet address

What have you tried to fix this so far?
not sure what to do

2

Hi @_MrMooF,

The capital loss on the disposal of XRP seems appropriate if the market value of XRP has declined since you acquired the coins. The trade is a taxable disposition as far as I can see. If you feel the trade should be tax exempt, you can tag it as a “Swap” in Koinly. However, I don’t see why this trade should be tax exempt.