Wrong calculation of capital gains

[Freshtill1]

Describe the problem:
Hi there,
I am currently working on my German tax report 2021 and have imported now most of my data. I added my Binance account and it is calculating me capital gains on coins I have held longer for one year ( tax free then in Germany) Therefore I would own more taxes than I actually do

. When I activate the option of Wallet based cost-tracking the taxes I owe are down by thousands of Euros. Is this correct? Or is the tax reported generated with that option activated false?

*Which exchange/wallet is this regarding?
Binance

How did you import data into this wallet?
CSV data

What have you tried to fix this so far?
Several settings options activated/ turned off

Thanks in advance

[Ali_Koinly]

Hey @Freshtill1

Thanks for posting!

Koinly will recognise Long/Short term holdings and categorise them in your tax report, however, we do not apply discounts. The discounts would ultimately be applied by your tax authority/accountant.

You can check if Long or Short term holdings were used on a specific transaction by navigating to the Cost-Analysis tab, the information is also detailed in the Capital Gains Report and Full Tax Report.

You mention that “most” of your data is imported, we would advise that you finish importing whatever data you have, and then run the calculations as otherwise, you will no doubt receive an inaccurate report.

Wallet-based cost tracking is an option you can choose to enable however it’s not actually all that relevant to the Long/Short term scenario. See below the default settings for Germany-based accounts.

I’d like to invite you to get in touch with our support team as they will be able to further troubleshoot the issues you mentioned! We look forward to hearing from you.

[Freshtill1]

Thank you for your help. I will have a look at the things you mentioned. That should solve my issue then hopefully