Cost basis not tracked and gains not calculated for custom currency transactions
submitted
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I am having the exact problem described in this forum item: https://community.cointracker.io/t/cost-basis-on-custom-tokens/2177
How can this be fixed or handled?
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Sam - CoinTracker
Updated the title to this post, as stated CoinTracker is not calculating the cost basis on custom currencies and in turn not accurately calculating the taxable gains/losses from the incoming side of the transaction. As a user, I expect CoinTracker to automatically infer the cost basis or proceeds of a transaction I edited with a custom currency IF there is a supported asset that CoinTracker tracks within the transaction.
If a user uses a custom currency to replace unsupported tokens they will also need to add a custom cost basis or proceeds for said custom currency.
We have escalated this behavior to our engineering team for further review, we will update this post should any changes be deployed. Thank you for your patience!
Sam - CoinTracker
submitted
Sam - CoinTracker
Updated the title to this post, as stated CoinTracker is not calculating the cost basis on custom currencies and in turn not accurately calculating the taxable gains/losses from the incoming side of the transaction. As a user, I expect CoinTracker to automatically infer the cost basis or proceeds of a transaction I edited with a custom currency IF there is a supported asset that CoinTracker tracks within the transaction.
If a user uses a custom currency to replace unsupported tokens they will also need to add a custom cost basis or proceeds for said custom currency.
We have escalated this behavior to our engineering team for further review, we will update this post should any changes be deployed. Thank you for your patience!