Error message: No purchase history for BTC in Binance BTC Wallet

Dear CoinTracker,

I imported my binance transactions.

CoinTracker tells me “** No purchase history for BTC in Binance BTC Wallet. [Review purchase history]**”.
I think this has to do with withdrawal/transfers between wallets accross exchanges. Should they be tracked?

Is it a big deal tax wise? The import of transactions all worked out okay. I just have this error message from CoinTracker when I try to file for my taxes.

Thanks for your help

It’s important to have 100% of your cryptocurrency transactions across all wallets and exchanges in order for the tax calculations to be correct. If there are missing exchanges/wallets (e.g. from transfers) then the cost basis will be wrong on the capital gains calculations and you could end up with a way bigger tax bill then you really owe.

Could you double check that ALL of your cryptocurrency transactions are added and then let us know if you are still seeing a warning?