I am trying to track a custom token, but seem to get an error on cost basis for transfers of the custom token:
- Purchase of custom token looks to have correct cost basis
- On any transfer of tokens the send cost basis looks correct but shows the "could not determine value of this transaction:
- 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”
- 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
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.
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.
I am having this exact problem. Is there any solution?