$286,694.85 per Bitcoin

Can some explain how I could have a cost basis of $286,694.85 per Bitcoin?

What is going to happen when people rely on this data for their taxes?

I have been emailing them for weeks and I get no response.

How can this company take $100 a month and say you will get “Priority Support” and not even return your emails?

  1. My Cost Basis is Wrong.
  2. My Total Return is Wrong.
  3. My Market Value is Wrong.
  4. They show my cost basis is $286,694.85 per Bitcoin? How in the world could their system give a cost basis of $286,694.85 per Bitcoin? It is Ludicrous.

Check your transactions. See if there are any duplicates. if so remove the duplicate.

Happy to lend a hand! Typically when you see a cost basis like that it’s because we’re not being given a correct set of information. That’s almost always the case when you see such an inflated cost basis in particular. That’s because to calculate your cost basis we need to see a full history of your transactions. The app can only produce results from the input made available to it.

This article covers a few of the more common reasons that might happen. I suspect that this is likely due to a missing transaction so that’s the first place I’d suggest looking.

Have you missed a wallet or exchange? Did a transaction get ignored that should not have?

If that guide doesn’t help you figure it out, hang tight and we’ll get back to you on that ticket. We’re working hard as a small team of support folks to get back to everyone after a >5x growth in customers! As always, we’re hiring for support if you know anyone who might want to help solve problems like this.

You have an API connection to Binance. Binance has all the correct information. People do not supply you with information the API goes and gets it.

I sold all my positions to clear this all out and still have major issues.

Issues:

  1. It is showing $397.53 of XRP in Coinbase Pro that I do not own.
  2. It is showing unrealized losses of -$89,823.00. I sold all my positions, so all my losses or gains are realized.
  3. Showing a negative investment, how do you have a negative investment?
  4. Still not showing Bybit net losses in 2021 of -$133,714.89. I supplied you this information.

I look forward to getting all these issues resolved. I believe you should return the money I have spent on this up until now as the data is all incorrect.

This probably wont be helpful but try to start from scratch. revoke all permissions from the exchanges and manually added transactions. then add one back at a time. I would bet there’s some doubled up transactions somewhere.