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Include transaction fees in cost basis
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CT-bqYRy8wQ
Cost basis for USA should include fees incurred to buy AND sell the cryptocurrency. Cointracker Tax Center does not always include these fees in the cost basis. Nor does it consistently deduct fees from the proceeds of a sale. This means transactions have to be manually edited to reflect the true capital gains. This shortcoming really diminishes the value of this product.
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CT-jO3ynZmQ
This is unbelievable - what a fundamental error. URGENT need to fix.
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CT-6QrlgZrO
So this is a real thing... CoinTracker really doesn't include the fees??? Literally getting raked on fees and now again on taxes.
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CT-kQEN9ZEX
Please add an option to include the fees in the cost basis calculation, not adding it would make the whole calculation thing useless.
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CT-GqMYnJeq
Major Fail here, make Cointracker useless and Cost Basis figures all incorrect.
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CT-mO2RMvbO
Fees not included in cost basis is ridiculous. Really Coinbase/ Cointracker?
Eivind
Merged in a post:
No fees included in cost basis?
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CT-lONnYDoO
Seems even for relatively descriptive Coinbase transactions the cost basis does not take into account fees. Direct from Coinbase website is the following:
Cost basis = Purchase price (or price acquired) + Purchase fees
I can see where for some transactions I can update the cost basis but for purchases of ETH from Coinbase with USD, there is no option when attempting to manually update, to change the cost basis even though fees are listed.
Am I missing something or does that mean all cost basis calculations therefore all downstream calculations are wrong? Thanks, hope to hear back soon.
Eivind
Merged in a post:
Are Exchange Fees and Gas Fee included in the cost basis calculation?
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CT-Nq0WgJjO
I see the transaction fee listed separately next to cost basis.. is it not included in the capital gain calculation? For example, if I bought NFT for 0.2 but paid 0.05 in gas and opeansea transaction fee is the purchase price discounted by these fees the way it's calculated by CoinTracker? (is the fee automatically included to determine cost basis or I need to add it manually???)
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CT-BXadm8gQ
Fundamental and HUGE flaw in a site that bases their business and fees in calculating taxes. Buy & Sell fees should be included in the cost basis in the US. Paying you (CoinTracker) $359+ for you to not include this Accounting 101 logic is class-action worthy.
Eivind
Merged in a post:
Exchange fee not included in cost basis
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CT-AQZLMdMO
The exchange fee is not included in cost basis! The exchange fee should be included both in the purchase and sale for computing the cost basis. It is hard to believe that cointracker does not offer this option, as it is basic to reporting cryptocurrency tax liabilities in the US.
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CT-ZOVox9Nq
There should be an option to "Subtract fees from basis" or not. As it is, I must load the data from CoinTracker into a spreadsheet to calculate/check the basis for every transaction and then correct the data before using it for taxes. CoinTracker, please fix this!!
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