I have managed to link my Coinbase and Coinbase pro accounts and the data is now coming through to coin tracker.
For example I can see 50 transactions, 10 sent and 10 received.
Do I now need to “tag” these transactions individually as gift, loss, payment and transfer etc?
I haven’t got any earnings from staking, forks etc but I have cashed out to my bank account which shows in “10 sent” area, do I need to tag them as “transfer” or leave them untagged?
Any help would be greatly appreciated.
Welcome to CoinTracker! You can go ahead and all your exchanges and off-exchange wallets. Once you’ve done that, buys, sells, trades, transfers will all automatically be detected.
What you need to do manually is tag:
- Lost/stolen crypto
- Mining rewards
- Staking rewards
The rest is automated.
@Chandan thank you. Can I triple check what “payments” and “transfers” mean and when to tag these?
have cashed out to my bank account which shows in “10 sent” area, do I need to tag them as “transfer” or leave them untagged?
one last thing, some off-exchange wallets I no longer have access to do I still need to add these to coin tracker?
Payment means you provided a good/service to someone and in exchange they paid you crypto (income).
Transfer means you moved crypto between your own wallets / exchanges (non-taxable).
Assuming it is a fiat transfer, you can leave untagged since fiat transfers have no taxable impact. If it is a crypto transfer, then you should mark the transaction as
Yes. If you don’t have the wallet addresses, mark all the transfers to/from those wallets as