Hi, new to tracking transactions and could use some help understanding how losses are calculated when sending crypto to another wallet.
I sent from one Coinbase wallet to another 10 ADA … I get the $.29 fee but not the $-8.34 loss. Somehow I lost $8 on a ~$15 send to another wallet? Doesn’t seem good : /
Another example was a trade from Bitcoin to Litecoin… I don’t see why there’s such a big loss (-$92). I do see the loss equals the difference of the two cost basis numbers… does that mean when I traded those two coins, the price of each coin was lower than when I acquired them?
Also in that example was another transfer of Litecoin to another wallet from Coinbase that has a -$41.87 loss… Does that mean the price of Litecoin at the time of transfer was lower than when I acquired it?
Thanks for any guidance you can give this the noob. : )