Tax Report shows astronomical numbers for UST/Luna

Koinly Support
1

Describe the problem:

I had some UST coins and during Luna crashes, I converted them to Luna (Luna Classic) and sold them in Binance. In one transaction, I Converted 1300 UST to 276m Luna (yes, before Luna goes to zero) and sold those 276m Luna in Binance for around 1100 AU$. Now Koinly shows A$2,635,521 profit for UST to LUNA conversion transaction.

Koinly shows loss for selling Luna too and over all calculation seems right. A$2,635,521 profit vs A$2,685,000 loss.

I don’t know how Koinly calculated these numbers, But it seems very wrong. I got my USTs when they were 1 US$, so how converting them to worthless Luna shows 2.6 million dollar profit?

Thanks

Which exchange/wallet is this regarding?
Terra Station, Binance

How did you import data into this wallet?
CSV from Binance, API from Terra station

What have you tried to fix this so far?

2

Hey @Saeed , yes we are very aware of the issues currently arising with pricing LUNA or UST transactions.

We are following closely the rebranding of LUNA into LUNC, with Terra 2.0 branding its new coin LUNA now and how the exchanges are reacting in the way they present us with new data formats.

I can’t give you a precise timeline here, sorry about that, but we got our best people figuring this out and we are confident that we will be able to present the best solution. Hope that makes sense.

Thanks a lot for your understanding :slightly_smiling_face:

Have a great week ahead!