Wrong Final Capital Gain Transactions

Koinly Support
1

I used Koinly for the 2024 tax report. I have fixed most of the errors showing in the wallets.
Wallets I had:
MEXC - uploaded from CSV files
Coinbase - API sync
OnChain ETH wallets - API sync

The final Capital Gain transactions seem off due to several issues:

  1. My MEXC wallet shows $1,428,125 in proceeds, but when I checked individual transactions in MEXC, I am pretty sure the total didn’t add up to $1.4M in proceeds and $1,440,467 in costs. I probably only got $10k instead.
  2. For some reason, the ETH transaction is also not adding up. It again shows in my MEXC wallet, but I am pretty sure I have no ETH transactions in my MEXC wallet.
2

Hi @c0ffee

First, I suggest checking that your transaction history is complete, there are no errors, and your calculated balances are accurate by following the steps in this article:

How to ensure your Tax Report is accurate

Then, review the following article regarding acquisition costs and proceeds from sales:

Proceeds from sales & acquisition costs are very high

3

Hi Aria.

I read this doc still think something unexplainable with the report. I can clearly see Koinly generated the wrong aggregated capital gain report for some of my wallets. For example, the aggregated capital gain for my MEXC wallet looks like the following:

    Date Sold,Date Acquired,Asset,Amount,Cost (USD),Proceeds (USD),Gain / Loss (USD),Wallet Name,Holding Period
    01/02/2024 03:00,12/08/2023 03:47,USDT,1428210.2206,1440498.12,1428122.54,-12375.57,MEXC,Short term
    01/29/2024 02:34,01/29/2024 02:30,ETH,64.8326,218215.47,210873.17,-7342.33,MEXC,Short term
    02/06/2024 19:24,12/08/2023 03:51,CANTO,59990.9,22556.56,9409.57,-13147.02,MEXC,Short term
    02/15/2024 05:23,01/13/2024 21:41,ZKF,708893.08,9733.01,3631.13,-6101.87,MEXC,Short term
    02/15/2024 00:46,01/06/2024 00:29,LINK,2051.26757099,31459.86,38785.9,7326.1,MEXC,Short term
    02/15/2024 01:16,12/03/2023 02:18,FIL,6270.91262917,32976.52,77332.55,44356.03,MEXC,Short term
    02/15/2024 01:52,,USDT,104.08906308,0.0,34598.26,34598.26,MEXC,Short term

But it seems to be wrong. I wrote a script to process the individual transactions, the MEXC gain/loss should look like the following:

MEXC Capital Gains Analysis
================================================================================
Asset                  Proceeds      Cost Basis       Gain/Loss   # Trades
--------------------------------------------------------------------------------
CANTO           $      9,409.57 $     22,556.56 $    -13,147.02          7
USDT            $     36,881.20 $     23,766.17 $     13,115.03        308
ZKF             $      3,631.13 $      9,733.01 $     -6,101.87          7
LINK            $          7.21 $          4.86 $          2.35          1
USDC            $     11,007.25 $     11,008.79 $         -1.54          6
FIL             $          0.29 $          0.23 $          0.06          1
ETH             $          3.39 $          3.40 $         -0.01          1
--------------------------------------------------------------------------------
TOTAL           $     60,940.04 $     67,073.02 $     -6,133.00        331

Note: All amounts are in USD

My ad-hoc script shows the accurate one – I have never traded 1.4M$ USDT in MEXC. It smells like some bug in Koinly.

4

@c0ffee

I am sure this is not a bug but to investigate it please reach out to our support team via the in-app chat. Please add all the details in the support request.