Can I edit the cost basis and proceeds of my own transactions?

Tips and tricks for troubleshooting some of the most frequent questions.

Yes! On your transactions page, you have the ability to manually edit your transactions through various features, see our guide on how to edit and tag transactions for more information.

In this article, we'll be walking you through how to edit your cost basis and proceeds.

Things to keep in mind

• You should verify your synced transaction data from wallets and exchanges are accurate, editing a transaction can help you fix any inaccuracies, inversely it can also skew your portfolio should an unintended change be made.
• Manually editing a transaction's cost basis or proceeds will have an impact on how any capital gains or losses are calculated on the disposal of an asset which will have an impact on your overall tax liability.

The basics

You have the option to manually edit the cost basis for the following transaction types for incoming (credit) crypto (excluding Buys and Transfers): • Received • Trade • Mint

You have the option to manually edit the proceeds for the following transaction types for outgoing (debit) crypto (excluding Sell transactions for fiat): • Send • Trade • Mint

You can edit the cost basis or proceeds by type regardless of how the transactions were imported (API sync, CSV import, or manual transactions) to CoinTracker.

In practice

In the below examples, we are looking at a Trade transaction in which we swapped ETH for ACYC. A trade transaction consists of disposing one coin and acquiring another, you can modify the cost basis and proceeds of each side of the transaction.

Edit proceeds

• To begin, go to your transactions page and locate the transaction you would like to edit the proceeds for.

• Select More Actions on the right-hand side of the transaction, followed by the Edit proceeds option.

  

Note: If the transaction has multiple tokens you will be prompted to specify the token available to be modified.

• After selecting Edit proceeds for the transaction, you will be directed to a modal window where you can enter the price of the token on the specific date of the transaction, CoinTracker will automatically calculate your proceeds based on the price added multiplied by the quantity of tokens:

• Enter the correct proceeds and select Update within the modal. The new proceeds will be reflected on your transaction.

Editing cost basis

Editing a transaction's cost basis follows the same process as editing the proceeds.

• To begin, go to your transactions page and locate the transaction you would like to edit the cost basis for.
• Select More Actions on the right-hand side of the transaction, followed by the Edit cost basis option.

Note: If the transaction has multiple tokens you will be prompted to specify the token available to be modified.

• After selecting Edit cost basis for the transaction, you will be directed to a modal window where you can enter the price of the token on the specific date of the transaction, CoinTracker will automatically calculate your cost basis based on the price added multiplied by the quantity of tokens:

• Enter the correct cost basis and select Update within the modal. The new cost basis will be reflected on your transaction.

Missing price history - Needs review transactions

Users may see Needs Review transactions flagged as Missing price history, learn more about our Needs Review transactions here. When we are missing price history for assets CoinTracker assumes a cost basis or proceeds of $0, we have added a feature that allows you to quick confirm the $0 cost basis or proceeds assumption. You can confirm these values by navigating to the transaction, selecting More Actions[...]> Confirm $0 cost basis / proceeds.

Re-Computed Cost Basis

Every time you edit the cost basis or proceeds (or any manual edit, for that matter) for a transaction, those updates will trigger an automatic re-computation of the Cost Basis across your entire portfolio. You will see this reflected as a banner until the process is completed, which usually takes less than 60 seconds:

Depending on the complexity of your changes, this re-computation time may vary. If you make a large amount of updates and the re-computation banner persists we recommend waiting for the computations to resolve. The absence of the re-computation banner is an indicator that the calculations are complete.