To high income on my crypto taxes

Hi! I lost money on trading crypto in 2021 and still it says that I earned money. Is that possible or am I missing some transactions?

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Hello @Kristian_Sorbroden :wave:

So there could be a number of reasons why your Income is higher than expected. Things such as cost-basis method, incorrectly imported data and indeed, missing transactions could be a factor.

I would highly recommend that you check out our article How to ensure your Tax Report is accurate | Koinly Help Center.

To get a better understanding of your account, we would ask that you contact us on [email protected] so we can troubleshoot this further with you. :+1:

Looking forward to hearing from you!

Best wishes,

Ali :rocket:

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I am experiencing the same thing, incorrect income amount. For me looking at the transactions, I think its to do with ICOs, e.g. polkastarter. Koinly doesn’t undertsand the nature of theses transactions (they are payments for the coins, not income) so atm I am going to have to manually change them all.