Transaction costs

Describe the problem:
I am trying to familiarise with checking and editing each trade in Koinly

My first Crypto transaction was IQ Coin (IQG)

Transaction Hash
0x3fbac5a24f6af84c18b3cc9f3e6f693252809f12552e064e15c9d29b7102c12c

The Koinly record shows;
Fiat Value - $28.87
Cost basis - $32.07
Gain - $3.20

My records from BSC in my wallet in my spreadsheet. (BNB prices change)
Cost - $27.42
Transaction cost - $0.42
Network Fees - 0.46

How do I reconcile this?

Which exchange/wallet is this regarding?
Trust Wallet

How did you import data into this wallet?
API

What have you tried to fix this so far?
The cost box is greyed out. Cannot add the costs.

What is the difference between Fiat Value and Cost basis?

Thanks

Hello!

Alex from Koinly here :slight_smile:

The Cost Basis is what you paid to acquire the crypto, the Fiat Value is the worth in Fiat that it had when you sold it, the Gain is the difference between Cost Basis and Fiat Value.
So in your case you have paid $32.07 for the IQG and then sold it for $28.87 resulting in a “negative gain”, also called loss, of $3.20.

The reason why Koinly and BSCscan might differ a bit in the price at the time of transaction is because Koinly gets the exact price at the time it was executed while BSCscan uses the closing price of the token for that day.

I hope that helps! :slight_smile:

Best regards,
Alex

Hi Alex,

That is what confused me, I have not sold my my IQG tokens.

This is similar to all my other tokens. They are showing a FIAT value when I have not yet sold any.

Can you add the Network cost and Transactions cost manually?

Hello again James!

Could you please send us an email at hello@koinly.io

It sounds like we’d need to take a closer look and see what is happening here.

Best regards,
Alex

Hi Alexander,

I have emailed hello@koinly.io.

I have attached pdf’s of 3 of my first Crypto transactions and also an extract of my excel spreadsheet.

a. Generally all of the transactions are showing up as being sold even though they are not.
b. For BRISE, I am not sure how staking is recorded. I believe it is showing as a transaction loss.
c. For TRISE, there are missing tokens when I sold off everything. This difference I believe is from tokens earned from buy / sell fees that are distributed back to holders.

Please advise if Network costs have been taken into account.

Regards
James J