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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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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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Eivind
complete
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-.
CT-NqKaGxXB
What the heck is going on over in the Cointracker offices??
Do you guys have any staff that are improving the product at all?
How is it possible that this request along with many other critically important functions have not been added to the Cointracker service yet?
Literally every other competitor is looking much more appealing right now
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CT-bqYWaEDX
Why is this not the top priority for Cointracker? Users pay thousands of dollars in transaction fees; these NEED to be accounted for.
Eivind
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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.
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