"Engine Upgrade" Absolutely Destroyed 12 Years of Data

We need an immediate statement from CoinTracker on the upgrade issues we are all experiencing.

I’ve been a paying “Enthusiast Tier” and yearly tax customer for years and can’t even fathom how anyone at CoinTracker thought this upgrade should just be rolled out.

It literally destroyed hundreds of past transactions that I painstakingly corrected (often at the guidance of CoinTracker support).

I meticulously verified thousands of 2022 transactions to prepare for tax season. Two weeks ago, I had ZERO transactions that “needed review”. Now, I have HUNDREDS. And the kicker, when I click to review those HUNDREDS of transactions, it’s only showing me one.

As paying customers, we need answers or complete refunds!!

Incredibly disappointed customer… totally reckless behavior with customer data on CoinTracker’s part.

9 Likes

100% agree here - we need a response from the team and the ability to roll back the changes

Have been discussing this point here as well:

3 Likes

Thanks for the info. It’s extremely concerning that CoinTracker has forced their paying customers into a “By Wallet” cost basis without any prior notification.

We need the ability to return to “Universal” tracking… even just for a short period so we can download our data.

3 Likes

I also agree. It took me several months to go into each transaction last year to verify that it was being reflected correctly for tax purposes. Which is the only thing I use CoinTracker for, not the performance reports. Just to do my taxes. I did the same in prior years, I have about 6 years of transactions. This change has made a complete mess of the prior years and I’m still trying to figure out if I can even find all the corrections that need to be made.

I also had another issue with the Cardano wallets, where there were duplicate transactions made in prior years. sometimes 10 duplicate entries for the same transaction. I need to figure out what happened there and fix those also.

If this doesn’t get fixed soon, I may try to load my prior years into another tax software and see if I can fix this.

2 Likes

@chandan any updates?

Holy sh!t, wtf just happened? I finally got my W-2 today and was going to finish my taxes early! I was so pumped I actually had only 2 need reviews and was going to easily just submit .txf file and now I have pages of “need reviews”. @chandan this needs fixing asap. no joke

I have worked for years on this Cointracker account, the amount of hours outside of my Fulltime job I have poured into getting this as right as possible is enormous. That’s time I can’t get back. Paying customer since 2019 over here.

refund is not the answer here. Revert whatever was just done. I do not have the time or energy for this, My CT account was set up good, I just cannot have another tax nightmare this year please. I did everything right on my end.

5 Likes

Im in the same boat, i had everything all set to go , everything reviewed and even uploaded to turbo tax and reviewed. then i go back to see what they are talking about in this email and my whole account is wrecked. i started making changes trying to correct stuff but changes wouldnt save , some would. your programmer should be fired. i removed the turbo tax upload and now the whole format is different there. you cant download the turbo tax packet, it has to be sent to turbotax. i removed all my wallets on CT to start over and now none of my wallets will update. especially bnb. fire that guy please

6 Likes

We may all need to just fire Cointracker, they have pulled some sh!t in the past but this is borderline unforgivable.

4 Likes

This is a massive problem and should be addressed by CT ASAP.

Regardless of what the IRS is requiring of “exchanges” in the future, you have users that have had all their info in your system and filed taxes based on previous settings that at the time were and are currently allowed. From a Customer Experience perspective and someone with years of product design and implementation, CT needs to take into consideration current customers situations and the implications / ramifications to those customers and the accounting they have in the system. Although not ideal, CT should be running two instances “engines” on a go forward basis instead of jamming all your existing customers into the new engine. All current customer should be allowed to continue as is with the option to make the change if they want. Then start onboarding all new customer to the new instance running the new “engine”. As I said, not ideal and will be costly however it is the only correct way to deal with this.

I just clicked on the 2020 tax report and it was fine when I filed, now it has errors. This is unacceptable to be changing a clients data retroactively!

4 Likes

Crazy how there is absolutely no communication from the team on this critical issue for most long-term platform users, yet they have time to make marketing videos:

1 Like

I feel the same way. We need a quick response and resolution.

@chandan any updates?

1 Like

I do not support this “upgrade” whatsoever, however at a very minimum they should have offered a “lock” option for all transactions previous to a selected date by the user. This would have prevented users from having past return report being adjusted and causing massive amounts of stress and time for their users. Since we are not getting any response from them, maybe “we” should hold a Twitter Spaces and see if they will respond or show up to it. This forum and their response via emails is not working whatsoever.

2 Likes

The lack of support here is truly concerning. @chandan

2 Likes

Hello CoinTracker community,

Thank you for sharing this feedback on our recent changes, and in particular, the migration to “per-wallet” cost basis tracking. Your concern hasn’t been lost on us, and we’re actively discussing the insights you’ve shared with us.

We want to share with you why we’ve opted for this approach through our new FAQ document. The “per-wallet” cost basis tracking method helps ensure that our gain and loss calculations sync with those produced and reported by exchanges. Our belief is that an earlier transition will be easier for users to reconcile, though we do recognize that this may result in extra work for some users.

To better understand user needs, we also have this public feature request to allow US users to revert to “universal” cost basis tracking. If you’re interested, please add your upvote to this feature request and any additional feedback you may have for us to consider. Upvoting will also automatically subscribe you to updates as they become available.

We recognize that this is a major change for some of our users. If you would like to chat with our support team for individual assistance, please email us here (leave the subject as is) for priority support so we can assist you as soon as possible.

Thank you again for being a part of the CoinTracker community.

Thank you for the reply and for acknowledging what a major issue this is for a lot of us.

Please also consider that many of us had already finalized our 2022 transaction reviews only to have all that work undone. Personally, I reviewed 1,373 transactions and was ready to run the final reports and ship them to my accountant. This update has left me scrambling.

Instead of going the “public feature request” route, we’d really need to insist that you make it a priority to allow us to revert to universal costs basis tracking. Surely, you can see the urgency of this feature request and appropriately move it up to an urgent update.

Thx.

4 Likes

I feel this really isn’t fair to do this to customers that have filed past returns using the Universal Cost basis because now my data from previous years as well as this past year looks very inaccurate and virtually unusable. I spent a lot of time making sure my data is accurate and now right before tax season this switch is made and my data is a mess.

Please at least strongly consider at least making an adjustment to allow customers the option to switch back to Universal cost basis tracking.

4 Likes

Hi, CoinTracker Support,

Before I say anything, I want you to know I have paid top dollar for your software and I was always happy to do it b/c your software saved me tons of time and kept me complaint with IRS requirements. I should also mention that over the course of years, I’ve spent 100s of hours to ensure everything was as perfect as humanly possible within your software b/c as many of us long time users know, many features were added/improved as the software matured.

However, after the latest upgrade you pushed out, I have thousands of errors that were NEVER there before:

  • Insufficient balance in wallet

  • Cannot determine capital gains

  • Cannot determine cost basis

All of these errors now need addressed and I can see very clearly from this forum I am NOT alone.

I can’t even attempt to fix these errors b/c every time I try, your site takes 20+ mins to reflect any changes.

What I don’t understand is why you would push this out knowing it would ruin people’s data, even data from many years prior??? During tax season???

This is gross negligence, a violation of trust in the good faith your customers gave & depend on you, and I’m positive I’m not exaggerating when I say this action has created a horrible amount of stress for your user base.

If I have to go to a different service in order to sort everything out, I will do so and I will pay another $500, but I assure you that you will have forever lost me as a customer. In the meantime, I will be scrambling trying to fix this with one of your competitors b/c I can’t afford to just wait around for your response. This is many hours worth of work.

Whatever you did, I am begging you to undo. Thank you.

4 Likes

Another day and no response or resolution. We need CoinTracker to respond ASAP to fix this issue or communicate the timing plans to do so. I still can’t believe that they tested this methodology change and thought that it would be OK with users with more than 1 year of transactions. It’s a total mess and there is no way they could have appropriately tested this and then just release it without expecting any issues from users. I’m not an accountant or a programmer, but I know enough to say that I would have never approached this type of change without doing the user testing and rationale before launching it live on the system.

Please respond so we know the next steps and when this will be fixed.

Thank you.

2 Likes

Although I cannot attend, I think everyone here should jump on the Twitter Spaces they are holding tomorrow about UK taxes. Since they are the host, they should have representatives in the Space and should be able to get some real in person answers to our questions/issues. Tag or tell a friend that uses this and is having issues as well! https://twitter.com/CoinTracker/status/1618236567382020097

1 Like

Can we please have an update on whether or not we will have the option to use universal cost basis tracking soon? It’s almost February and it’s tax season. The changes that have been made with the update/upgrade is causing so much unnecessary stress.

4 Likes