Why are transactions to my wallet being taxed?

If you add an exchange that has outgoing cryptocurrency withdrawals to your local wallet, but don’t add your local wallet, then CoinTracker does not know if the wallet is yours, a friend’s, or a merchant’s. Therefore, to be conservative, the default assumption is that a non-tracked wallet is not yours and therefore a taxable send event.

If that is incorrect and the transaction should instead be a transfer to a local wallet that you control, then the fix is to simply add your local wallet to CoinTracker (we currently support ADA, BCH, BTC, DASH, DOGE, EOS, ETC [including ERC20 tokens], ETH [including ERC20 tokens], LTC, NEO, QTUM, TRON, XEM, XLM, XRP, XTZ, and ZEC local wallets). If you run into any issues, please see the FAQ about cold wallets.

If the transfer is for a wallet we do not yet support, then you can mark the transaction as a transfer using the down arrow next to the transaction from the Transactions page. Behind the scenes, this simply adds the same amount of coin which was Sent/Received as Received/Sent. You can undo the operation by manually editing the transaction back to its original state.