Cost Basis on Custom Tokens

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#1

Hi,

I am trying to track a custom token, but seem to get an error on cost basis for transfers of the custom token:

  1. Purchase of custom token looks to have correct cost basis
  2. On any transfer of tokens the send cost basis looks correct but shows the "could not determine value of this transaction:
  3. On any transfer of tokens there is no receive cost basis with error “could not determine the cost basis, assuming a cost basis of $0.00”
  4. On later trades the cost basis of the custom token is still the assumed $0.00

How can I fix this?

  • Note there is no option in the dropdown to edit the cost basis of these transactions

Cheers

Red

1 Like
#2

Having exactly the same issue for a transfer of a “custom” token from one wallet to another. CoinTracker knows it’s a transfer, and yet it’s still giving “Could not determine the value of this transaction” on the left and “Could not determine the cost basis of this purchase - assuming a cost basis of $0.00” on the right.

Futhermore there’s not even a way to edit the cost basis on the right side even if I did want to manually tell CoinTracker that the cost basis should carry over. [This is just a TRANSFER after all].

I am honestly dreading next tax season with all of these wrinkles and gotchas in the product. And I spend easily 5X the time wrestling with CoinTracker as I do actually transacting on chain. These bugs around cost basis are truly unacceptable in a product whose purpose is to track such things for taxes.

#3

How do I enter a custom token trade? I think I could use this feature for NFT transactions but I don’t know how to do it. Thanks.

#4

I am having this exact problem. Is there any solution?

#5

Having the same issue.

What do I do?