I’ve got a number of tokens in my wallet that have been airdropped to me that are confirmed scams.
I’ve seen in the past, cointracker needs to manually add these to some sort of exclusion list in order for it to not affect your portfolio and taxes?
I was wondering if there’s any I can do on my end?
In my overview of transactions that need reviewing, all of these scam coins show up with their cost basis missing, and I just want to get rid of them?
If I tag them with, Ignore, does that remove them from my portfolio and remove any impact it would have on my tax bill?
I totally agree with you! I have three of these scam tokens in my wallet that were sent to me from some random address. They’re dusting attacks. I wish we had an option to fully remove them off our address.
For now, I’ve marked them all as ignore. I think that removed that tax impact but haven’t been able to definitely determine that yet.
Just edit the cost basis to $0.00 or mark the transaction as Ignored.
It’s slightly more practical than trying to maintain a comprehensive Blacklist of all BS tokens until the end of time. Particularly, when if they blacklist a legitimate token, and then it goes unreported on your taxes…that’s kind of a bigger problem than a warning notification about unknown cost basis that…literally doesn’t do anything.
Polygon ramped up gas prices, so it’ll be less a problem on there than it has been hopefully.
This does no good for coins like MNEB which cointinue to show up in your wallet and your total portfolio value, even if you ignore the transaction. Also, you cannot transfer them out of your wallet b/c the token’s contract doesn’t allow it. I have an extra $5000 of fake money in my portfolio b/c of this, and there’s nothing I can do other than the mental math to ignore it. It’d be great if Binance Smart Chain fixed this, but until then, it’d be nice to have a feature in CoinTracker that ignores the token entirely.
I’ve ended up removing the wallet and manually adding the transactions I want so I dont have to see those. The ignore function should remove the transaction entirely from view.