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Tax Center and form IRS 8949 for 2021 have different values for capital gains
in progress
Henry
Expected: Total gains reported on Tax Center, Capital Gains CSV, and Condensed 8949 match
Actual Behavior: Total gains reported on Tax Center, Capital Gains CSV, and Condensed 8949 are all different.
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Eivind
in progress
This is a complicated issue and it has been a bit of a journey to investigate, troubleshoot and fix, but I am happy to say that we have been able to identify what we believe is the root cause of this for most affected users. Note that the previous sentence says "most" — that is because there may be cases we have missed, but with your help we'll get to them!
We have shipped some fixes for this that should resolve most differences in capital gains between exported IRS form 8949 and the Tax Centre.
If you are still seeing differences upon exporting a new IRS form 8949, let us know and we will investigate.
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CT-RqvNWBpq
Just additional comment, CSV file total gain in TurboTax Online, Tax Act, also are not same as 8949 and not same as the CoinTracker original Gains CSV. One thing I noticed is "when" the numbers are rounded. Each CSV seem to round differently, some rounding each transaction's "proceeds" and "cost" before subtracting cost from proceeds, some may have just added up all transactions proceeds and cost, then subtract and round, etc. But seeing some people's difference is 500 USD, something else might be going on.
***But, please let us know, at least, out of all the CSV and 8949, which one is the "accurate" one?
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CT-0WJmNVv471y4N
Still seeing issues that I cannot fix on the transaction list - please advise
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CT-ZOV4b6jQ
This remains an issue, when is this going to be fixed? I cannot file my taxes because of this discrepancy.
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CT-13ojEaZpNE5Jj
its april 12 whats going on? time is running out!
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CT-b46Zl1JLoorMB
Having an issue on my 8949 form with profits and cost basis totals being off by .01 across the board. I've contacted support many times with no real solutions offered. Any solution to this?
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CT-GqMD5v5O
Hello. This is still Alpha software and disappointing I have invested this much time in manually entering things and there are so many issues my head is spinning. Running out of time before tax deadline... This isn't even an MVP especially with this issue, plus NFT gas price issues and Blockfi imports being broken.
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CT-0WJmNVv471y4N
@elvind - Still seeing capital gain figures that do not match up with the underlying transactions, as well as two examples of capital gain figures doubling between last week's 8949 report and the latest pull
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CT-0WJmNVv471y4N
Following up here
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CT-kQEbVnYX
@elvind any update on gas fees being added to the cost basis? this post has been open for months with no reply. this significantly changes tax calculations if our cost basis for every trade is inaccurate due to missing gas fees.
Eivind
CT-kQEbVnYX: This is another difficult issue to resolve and any solution has potentially wide-ranging consequences, so we are taking a cautious approach to this. It'll take time and I'm not certain whether we'll have it available in time for the US tax deadline.
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CT-GqMD5v5O
CT-kQEbVnYX: Please fix these issues
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CT-AZApJYYxE2Mg9
Mine still appears to be wildly wrong and the new form just disregarded the coin entirely that was causing the issue previously. I manually overrode the previous form produced and notated it to meet tax filing deadlines since I had little other choice.
Eivind
CT-AZApJYYxE2Mg9: Thanks, can confirm I'm seeing the discrepancy on your account too. We'll investigate.
Eivind
in progress
This is a complicated issue and it has been a bit of a journey to investigate, troubleshoot and fix, but I am happy to say that we have been able to identify what we believe is the root cause of this for most affected users. Note that the previous sentence says "most" — that is because there may be cases we have missed, but with your help we'll get to them!
We have shipped some fixes for this that should resolve most differences in capital gains between exported IRS form 8949 and the Tax Centre.
If you are still seeing differences upon exporting a new IRS form 8949, let us know and we will investigate.
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CT-WWNnaW3gw5BoJ
Eivind: Mine is still very wrong. Capital gains and cost basis at very wrong. You actually have capital gains for me on tokens I’ve never owned or traded.
Eivind
CT-WWNnaW3gw5BoJ: Alright, we'll have a look. Sounds like there may be other issues on your end too, though - if there are capital gains for tokens you haven't owned or traded you may have added addresses that maybe aren't yours.
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CT-WWNnaW3gw5BoJ
Eivind: I can confirm I have not linked a wrong wallet. In this case you are reporting a gain that should be for UNI for UNIQ, I have never owned UNIQ this and complicates the rest of the UNI reporting. There is also a big issue on cost basis on coins that changed names/symbols. Then some sales are just off. Total performance dashboard and 8949 are way off, neither are right.
I have spent the better part of a week trying to iron this out and can assure you the vast majority of the errors are not on my end, I don't think any.
Also, On of my current holdings has disappeared from my dashboard and portfolio but still shows in the wallet. I need someone to work with directly, I've contacted support once again but not have not gotten a response since 3/24.
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CT-0WJmNVv471y4N
Eivind: Hi - thanks for the update. Still seeing capital gain figures that do not match up with the underlying transactions. Might be helpful to discuss how I'm seeing it directly.
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CT-RXPdZElX
Eivind: I would like to request a review of my account for the same issue. Tax Centre appears different from 8949.
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CT-0WJmNVv471y4N
Following up here
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