The most common issue we see on CoinTracker is when a user comes to us reporting an incorrect cost basis, return, capital gain, or market value. This checklist solves these issues in 99% of cases so please see if any of these apply to your CoinTracker account:
- Complete transaction history: you must enter your 100% complete cryptocurrency history across all exchanges, off-exchange wallets (e.g. cold/hardware/local wallets), coins/tokens, ICOs, trades, DeFi, transfers, withdrawals, deposits in order for the calculations to be correct. You can do this by (1) adding all the exchanges you used to trade, (2) syncing xPub/yPub/zPub keys 2 and wallets, (3) uploading transactions in bulk via CSV, and (4) adding transactions manually. Leaving any transactions out, even from previous years or because you think they might not be relevant WILL make your portfolio and tax calculations incorrect. A small BTC trade from 2010 can significantly impact your calculations for ETH in 2020.
- Outgoing transactions assumed taxable: by default, outgoing transactions are treated as taxable sends to a third party. Without the receiving wallet, CoinTracker cannot distinguish a transfer to your wallet from a sale to a third party wallet, so to be conservative with tax reporting, a taxable event is assumed. If you have such an event that should be a transfer (not a taxable send), add the receiving wallet/exchange and we will automatically match up the transaction. Alternatively, you can mark the transaction as a transfer using the down arrow next to the transaction.
- Uncategorized manual transactions: if you have added any manual transactions (or marked any transactions as transfers), you will see a list of these manual transactions that are uncategorized at the bottom of the wallets page. If you have any of these transactions which are actually associated with a wallet/exchange that you have tracked on CoinTracker, you’ll need to edit those transactions to indicate the exchange/wallet where the transaction occurred (instead of leaving them uncategorized). Also make sure that none of these manual uncategorized transactions are duplicative of auto-synced transactions from wallets/exchanges.
- Coinbase Pro: if you used Coinbase Pro (formerly GDAX), make sure to connect both Coinbase and Coinbase Pro to CoinTracker (even if you never used Coinbase consumer).
- Distributions : some exchanges (e.g. Binance, KuCoin, etc.) offer distributions or bonuses that are not tracked via their API. Those transactions will need to be manually added from the Wallets page using the down arrow next to the wallet > “Add Manual Transaction”.
- De-listed coins: some exchanges (e.g. Kucoin) hide de-listed coins from their API syncs so make sure those transactions are either automatically synced, otherwise add them manually or via CSV import (ensure that they are tagged to the correct wallet).
- KuCoin: KuCoin stopped supporting syncing for transactions before 2/18/2019. In order to sync your full transaction history you’ll need to follow the KuCoin integration guide.
- Exchange errors: some exchanges don’t offer complete APIs; in those cases, you’ll see explicit warnings on the wallets page. Please make sure that you follow the additional steps indicated on those wallets.
- Pending transactions: not included in the current market value (they are automatically added once the pending trade is completed).
- Robinhood: currently supports CSV upload. If you’d like to see an API integration, please like/socialize this tweet.
- Needs review: these transactions need you to manually verify that they are complete, accurate, and not missing any previous transaction history. Hover over the tag to see the reason for the review.
- Transfer matching: in some cases a transfer is mismatched and needs to be edited manually to ensure that the correct sides of the transaction are being matched up.
If you have done all of the above and there is still a problem, please let us know.