ETH gas fees not being incorporated into cost basis / capital gains
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Chandan - CoinTracker
Including for Uniswap transactions and NFTs. Gas can be a large part of minting costs so this is especially important for NFT accounting.
Because gas fees are not accounted for in the cost basis, users report that their capital gains are too high.
Until this change is made to the software to include gas fees in cost basis automatically, you can manually add the gas fee to the cost basis if you wish.
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Eivind
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We have recently shipped an upgrade to our accounting engine which more accurately incorporates fees in cost basis. This has taken a while to implement and we thank you for your patience. As such, we are closing this issue out.
See the following article for more details: https://support.cointracker.io/hc/en-us/articles/12029908614289-Incorporating-tax-implications-of-fees-paid-on-exchanges-and-blockchains
If you have manually edited transactions to account for fees, see the following guide to correct: https://support.cointracker.io/hc/en-us/articles/12029990029073-How-can-I-remove-manual-edits-I-made-to-account-for-fees-.
Eivind
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We have recently shipped an upgrade to our accounting engine which more accurately incorporates fees in cost basis. This has taken a while to implement and we thank you for your patience. As such, we are closing this issue out.
See the following article for more details: https://support.cointracker.io/hc/en-us/articles/12029908614289-Incorporating-tax-implications-of-fees-paid-on-exchanges-and-blockchains
If you have manually edited transactions to account for fees, see the following guide to correct: https://support.cointracker.io/hc/en-us/articles/12029990029073-How-can-I-remove-manual-edits-I-made-to-account-for-fees-.
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CT-1pGoexNwo9ya2
This status now says in progress. Goal is to be done before tax season I would hope?
Eivind
CT-1pGoexNwo9ya2: Yup, we just shipped an upgrade to our accounting engine. It includes more accurate support for incorporating transaction fees (across the board, not just gas fees) on all transactions that have them. See the pinned post for details!
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in progress
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CT-5Oew2BoQ
Please update this asap. And hopefully with a fix that will not result in manually redoing all the work again.
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CT-1pGoexNwo9ya2
Please fix this before 2022 tax season. Begging you.
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CT-1pGoexNwo9ya2
Can we get an update here?
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CT-Mq9J372Q
It's such a basic requirement for NFTs. Not only it helps the users, it also helps reduces compute load on your servers BIG time!! - as every time a person updates cost to include gas, you need to rerun the cost of every transaction. Its a win-win to have this feature of automatically adding gas fees (could be setup as a parameter per profile). Whatever way you want to build it, but please get it there. Love your platform and would love to see one the biggest missing pieces to be added
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CT-dQBvMMBQ
I bought this product earlier this year, and filed and extension waiting for this major issue to be fixed. I can't fix thousands of transactions manually... not on top of the cost of this software. When is this being implemented?
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CT-6X7Dkn6O
It's unbelievably disappointing that this has not been fixed, 7 months after raising $100M. Chandan - you need to update everyone ASAP
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CT-1pGoexNwo9ya2
Can we please get this feature added? I have thousands of transactions where I would need to manually adjust the cost basis.
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