Hello
I see that when I buy bitcoin from usdt it says profit… which it shouldn’t because usdt is a stable coin and when I buy Bitcoin from stable coins I can’t make any profit there and I have quite a large profit there, a lot of percent, what can I do or what is the problem.
Thank you
This is what I’m facing too. I’m not sure exactly where its coming from but essentially a lot of my USDT transactions are showing a $0 cost basis.
I do participate in DEFI with applications like AAVE which I have taken multiple large sum USDT loans.
Though i have edited those transactions and noted them as a loan & manually add any cost basis for this but there is no change to koinly still reporting my USDT as a 100% profit.
I don’t know what to do here to get my USDT cost basis at a realistic level…
Hi @Pospa
A small profit or loss realized on stablecoins can be expected, especially if your base currency is not USD. However, significant gains may indicate missing purchase history errors on your stablecoins… This is explained in Transactions in stablecoins show gains (or losses),
I suggest you go through the steps in the following article to make sure everything in your account is accurate:
How to ensure your Tax Report is accurate
You should make sure the data you have imported into your wallet is complete.
Go through the steps in the guide I shared in this thread to troubleshoot and fix the issues in your account.