I’m on the enthusiast subscription plan and I have a number of cost basis calculations that are incorrect.
As an example my LINK cost basis is way off. By over 10000%+. I originally thought this was an error because I purchased with ETH and I thought the calculation was using assuming USD but after reviewing more I don’t see the purchase history in the transactions. This is an API linked Gemini account.
This is likely the issue. We’re tracking the issue and we’ll let you know as soon as we have an update. In the meantime, if you need an immediate solution you can add Gemini transactions with tokens that have 4+ letter symbols manually or via CSV upload and that shouldn’t fix your cost basis as a stopgap solution.
Thanks for the response @Chandan. I’m not sure if this is only an issue with the number of characters in the ticker.
Another example that I have is for YLD. When I look at the cost basis via that transactions (filtering for YLD), I see a cost basis of $0.003 per YLD but that math doesn’t line up.
I purchased YLD with one metamask swap using GUSD. The value of GUSD was $989 and the YLD received was 5603. So basically $989/5603yld = $0.17 per yld.
$0.003 vs $0.17 is a significant difference with a three character token.
I’m not not using BlockFi so I don’t have that use case to compare.
Got it — we’ll take a look at the main issue you mentioned and let you know once we have an update there.
I’m in the process of setting my cost basis in coingecko. Right now I’m only subscribed to get accurate cost basis calculations but right now that’s not proving to be accurate.
I still have concerns that there is an issue when ETH and USD is used to buy the same token but at least for LINK it appears the issue is because LINK transactions via Gemini was not automatically imported.
This might actually be related to the issue you linked. Let me explain. I traded USD for LINK in 2020 and that transaction is not showing up in my cointracker history. That appears to be an API sync issue. However, the transactions in 2021 for LINK occurred after moving GUSD back to Gemini which as far as I can tell is only recognized as USD but there is an ERC-20 (GUSD) to USD conversion that does occur to convert GUSD back to USD.
Got it, that’s helpful context. We’ll work on getting both of the underlying issues resolved
Just for reference when someone looks at this again. Another cost basis issue I see is with SWAP (TrustSwap - https://www.coingecko.com/en/coins/trustswap). Also a four character symbol.
The real cost basis should be ~$0.78 and it’s currently showing $0.09.
RAMP - cost basis ~$0.257. This one might be okay but the first transaction has an error.
Could not determine the cost basis of this purchase - assuming a cost basis of $0.00.
There’s not option to edit or correct this.
is the VTHOR Ticker off 1 decimal place?
More supporting data for the incorrect cost basis. This one is very obvious.
I’ve attached a screen shot that shows the transaction in Cointracker. You can see the cost basis is $493.77. I’ve been using CoinGecko (with manual entries) to track my portfolio and cost basis for comparison. The cost basis I’ve logged is $1023.82.
You can view the transaction CoinTracker references on Etherscan which shows an estimated cost of $1061.50 WETH on the day of transaction. That’s a large difference and when I sell at this price I will have taken a loss however, CoinTracker has it logged as a capital gain. Obviously this is a huge error. I don’t want capital losses logged as capital gains.
Don’t judge be based on the names of these coins. I dipped my toe into the degen market for some fun.
I have massive cost basis calculation problems as well. They are totally off.
Is this being actively investigated? If that is wrong CoinTracker is completely useless to me and I’m not sure why I’m paying for it.
Bump. Zero acknowledgement on this problem at all. I’m seriously getting pissed. Why do I pay you guys again?
Chandan , weeks ago some CTracker updating has messed up my cost basis. It is showing in the correct currency symbol (AUD) but has USD values in lieu of the correct AUD. Mate, I have great faith in you and the man upstairs to rectify this.
@Chandan anything we can do about these issues? I’m paying for a pro tax plan but decided to check the whole thing manually, and I’m finding heaps of errors.
Now I chose a token with only a few transactions and calculated the cost-basis manually (mind you: adding the $ values that Cointracker gives, so it’s info the app has). At the time of sale (over two times), the cost-basis is largely off: at the first sale it is simply off as it is not the proportional amount of the purchases that it should be (say I bought 100 for $500 total, when I sell 10 it says cost-basis is $74). The second all of a sudden gives a $0 cost-basis, meaning that the program records a gain of 700% larger than the actual gain.
I don’t dare imagine the consequences if this type of problem incurs also for more often traded tokens, say ETH…
Profile - thomas - CoinTracker Forum you’re our only hope! Leia is desperate.
There is an issue with tax harvesting not working. I am not going to bother explaining it. And I know you will just reply and ask for a screen shot and email that to support so they can fix the issue. The problem is they never respond so there is zero point. I have taken by business elsewhere because of this. Please refund my money.