Describe the problem:
when I transfer a Wallet at the end appears no cost basis, i want to introduce manually the amount cost basis
Which exchange/wallet is this regarding?
binance, kraken, etc
How did you import data into this wallet?
api or file
What have you tried to fix this so far?
Hi, I have the same problem. I just moved over to Koinly from Cointtracking via .csv import, and it shows up as a wallet with the data in it. So far, so good However, when I try to manually add BTC withdrawals (payments) from a new wallet Ledger, it says the cost basis is 0.00.
This doesn’t make any sense to me as changes to my cost basis for one type of coin (in this case: BTC) shouldnt be dependent on which wallet/exchange I buy or sell on? At least not in my jurisdication. Is there an option to make cost basis global?
Manually adding the transaction to my “cointracking” wallet seem to solve the issue, which is fine as a duct tape solution and for this tax season (outside of the fact that I’m unsure what to do about transfer fees when I send between my own wallets), but I want to add other wallets in the future
Hi @Juan_Gavilan and @Endy !
The cost basis is a figure calculated by Koinly based on all prior transactions. As such you cannot edit it without adding new transactions prior to it (a trade or a deposit usually).
Transfers between wallets shown as disposals (generating gains/losses) and then as deposits(resetting the cost basis) is generally (but not always) linked to one of your CSV wallets not being set to the proper time-zone. Koinly internally uses UTC for all transactions, even though your report in the end will be set to the time-zone of your jurisdiction.
When you upload a CSV to Koinly, you should specify which time-zone it is in so that Koinly adjusts to UTC.
Here is some documentation I think you will find useful to understand transfers better:
@Endy , in regards to your issue, Koinly needs to be able to track the cost basis of the asset disposed of and when assets are sold in a different wallet than the one they were purchased in, this is done through a transfer. This is why the BTC disposed off on your Ledger isn’t the BTC that Koinly knows of in your “cointracking wallet”.
In your case, @Endy , generally we advise starting from scratch as it will lead to more accurate reports, and will avoid the issue you described.
Check this out: Getting started with Koinly | Koinly Help Center
Of course if you want us to have a deeper look into your accounts or transactions, do not hesitate to reach out via email support@koinly.io
Cheers!