Yes! On your transactions page, you have the flexibility to manually edit your transactions in several different ways. In this article, we'll be walking you through how to edit your cost basis and proceeds.
Note: Be sure you're confident the auto-synced transaction data needs to be corrected before editing your transactions.
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.
You can manually update the cost basis for the following transaction types when you are receiving crypto (excludes Buys and Transfers):
You can manually update the proceeds for the following transaction types when you are sending/selling crypto (excludes selling crypto for fiat):
Regardless of whether you're editing cost basis or proceeds, how the transactions were created (API sync, CSV import, or manual addition) does not matter, just the direction and outcome of the transaction.
In the below examples, we are looking at a Trade transaction where we swapped DAI for OHM. Trade transactions consist of selling one crypto and receiving another, and you can modify the cost basis and proceeds of each side of the transaction (as well as the transaction fee).
Editing Transaction Proceeds
The first step in editing your transactions is to go to your transactions page and locating the transaction you would like to edit the proceeds for:
To view your edit options for your transaction, select the arrow button on the right-hand side of the transaction. This will display a drop-down menu with each portion of the trade available to be modified:
After selecting "Edit proceeds" for the transaction, we will see a modal window appear where we can enter the new proceeds:
Once the correct proceeds have been entered for the transaction, select the "Update" button on the modal and the new proceeds will be reflected on your transaction.
Editing Transaction Cost Basis
Editing your cost basis follows the same process as editing the proceeds. Navigate to your transactions page and locate the transaction that you want to edit. We will use the same transaction for this example and will modify the right-hand side of the transaction now.
Select the arrow on the right-hand side of the transaction and hover over the received token, in this example OHM, and you'll see a sub-menu appear with the options you can take.Select the "Edit cost basis" menu option:
You'll see a modal window appear where you can enter in the new cost basis for the transaction. Once the correct cost basis has been entered for the transaction, just select the "Update" and your new cost basis will be reflected on your transaction:
Re-Computed Cost Basis
Any time a transactions cost basis or proceeds (or any other value, for that matter) are edited, this will trigger an automatic re-computation of the Cost Basis across your entire portfolio. You will see this reflected in a banner until the process is completed, which usually takes less than 60 seconds: