# Swapping XRP to SOLO on Sologenic shows as taxable loss

**URL:** <https://discuss.koinly.io/t/swapping-xrp-to-solo-on-sologenic-shows-as-taxable-loss/16028>\
**Category:** Koinly Support\
**Created:** [December 11, 2022, 8:08pm UTC](https://discuss.koinly.io/t/swapping-xrp-to-solo-on-sologenic-shows-as-taxable-loss/16028 "2022-12-11T20:08:33Z")\
**Posts on this page:** 3\
**Page:** 1

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**Author:** ![\_MrMooF](https://yyz2.discourse-cdn.com/flex052/user_avatar/discuss.koinly.io/_mrmoof/32/9344_2.png) [@\_MrMooF](https://discuss.koinly.io/u/_MrMooF)\
**Post date:** [December 11, 2022, 8:08pm UTC](https://discuss.koinly.io/t/swapping-xrp-to-solo-on-sologenic-shows-as-taxable-loss/16028/1 "2022-12-11T20:08:33Z")

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**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?

 ![image](https://canada1.discourse-cdn.com/flex052/uploads/koinly_app/original/2X/a/ac0049f6c0cf2b17a649a669ad1830a111a4184d.png)

**Which exchange/wallet is this regarding?**

> **[Sologenic | Advanced Tokenization Solutions for Institutions | Sologenic](https://www.sologenic.com/)**
>
> A premier asset tokenization suite developed for the global financial market on one of the fastest blockchains. Built for banks, brokerage houses, investment firms, and exchanges.

**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

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<div class="post-metadata">

**Author:** ![Mark\_DesLauriers](https://yyz2.discourse-cdn.com/flex052/user_avatar/discuss.koinly.io/mark_deslauriers/32/2255_2.png) [@Mark\_DesLauriers](https://discuss.koinly.io/u/Mark_DesLauriers)\
**Post date:** [December 13, 2022, 11:09am UTC](https://discuss.koinly.io/t/swapping-xrp-to-solo-on-sologenic-shows-as-taxable-loss/16028/2 "2022-12-13T11:09:06Z")

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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.

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**Author:** ![system](https://canada1.discourse-cdn.com/flex052/uploads/koinly_app/original/1X/7ac58e5593a7122893d066794a7254dcdb5ddb31.png) [@system](https://discuss.koinly.io/u/system)\
**Post date:** [February 11, 2023, 11:09am UTC](https://discuss.koinly.io/t/swapping-xrp-to-solo-on-sologenic-shows-as-taxable-loss/16028/3 "2023-02-11T11:09:58Z")

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