Subtract Coinbase Pro fees from quantity received
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Chandan - CoinTracker
When selling an asset, the exchange fees are not subtracted from the Proceeds (the exchange fees for purchases are correctly incorporated into the cost basis). This affects exchange accounts, including Coinbase Pro.
Users may find that Form 8949 and Schedule D with higher capital gains or lower losses because exchange fees were not subtracted from proceeds. Amounts reported on Tax Center are incorrect and incomplete.
If you wish to make manual corrections, your changes will remain in place as the exchange continues to sync with your CoinTracker account.
Please also be aware that if you make manual changes, you will need to undo them once we ship this fix, since our changes on top of the manual edits will make the calculations incorrect for those transactions. One way of doing this would be to remove the exchange, which deletes all transaction history, then reconnect it.
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Sam - CoinTracker
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This is resolved. Users that add Coinbase Pro to their CoinTracker will see fees treated appropriately.
If you are seeing fees treated improperly we recommend users remove their Coinbase Pro exchange entirely (CAUTION: This will delete any manual edits permanently) and re-add their Coinbase Pro exchange. Doing so will ensure your Coinbase Pro exchange is up to date. Alternatively, users can import their Coinbase Pro via CSV as Coinbase has sunsetted the exchange.
Taylor-CoinTracker
Merged in a post:
Coinbase Pro Transaction have incorrect cost basis
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These transactions do not take into account the fees in the cost basis. Because of this the calculations are incorrect. This is a pretty huge bug as it might cause users to have issues on their taxes. I am unsure how anyone can trust this product if it cannot calculate cost basis correctly...
All of the information seems to be stored so it seems like this could be resolved rather easily. It just seems like for Coinbase Pro transactions it does not include the stored fee in the cost basis.
Please let me know if I am missing something
Thomas Hils
Merged in a post:
Incorrect Cost Basis - Overpaying on Taxes
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Over the past few weeks I have noticed that CoinTracker does not correctly report the cost basis for trades made on CoinbasePro. In that case the fees are not included in the cost basis when they should.
I have now noticed something similar with swaps on uniswap. See the attached image. Notice that the cost basis is shown as $984.71 instead of $1020.05. I am seeing this all over my transaction list and it is resulting in a much lower cost basis, which means over-reporting of capital gains.
This is totally non-functional for tax reporting.
