Describe the problem:
I’m a new user of Koinly, I just noticed that Koinly has the following behavior at least when using wallet based cost tracking:
If you buy 1 BTC on day X, and then transfer that 1 BTC on day Y to a different exchange, and then later sell that 1 BTC in that new exchange (on day Y or later), then in “cost analysis” Koinly will not show that the 1 BTC was acquired on day X like it was, but it will claim that it was acquired on the day it was deposited to the exchange (i.e. day Y). I think that’s also how the Capital Gains Transactions in the full tax report pdf are documented, so the “Date Acquired” column won’t always tell you the actual acquisition dates, only the deposit date.
This behavior is very problematic because of course the tax authorities want you to report the actual date of acquisition, not the date you deposited it on. Especially if you are not using a universal FIFO, which I don’t want to use.
I hope Koinly at least calculates the cost basis using the actual acquisition cost!
I suppose the actual date of acquisition could in principle be recovered from Koinly since I assume the transaction data does mention when the tokens sent were acquired, but that would be extremely time consuming.
I already paid for this years tax report on Koinly, hopefully this gets improved because it’s a deal breaker for me. Or maybe I missed something and the data is there?
Which exchange/wallet is this regarding?
All of them?
How did you import data into this wallet?
What have you tried to fix this so far?