Fixing Transfers Incorrectly Marked as 'Send' Transactions
If you see outgoing transactions marked as taxable 'Send' transactions, but they should instead be transfers to another wallet or exchange you control, this typically means CoinTracker isn't recognizing the receiving wallet.
Why Does This Happen?
CoinTracker categorizes transactions based on the information available from synced wallets or exchanges. If the receiving wallet isn't yet connected to your CoinTracker account, the outgoing transaction appears as a taxable 'Send' by default. This can inadvertently increase your taxable liability since 'Sends' are treated as dispositions or sales.
How to Correct Transfers Marked as 'Send':
Step 1: Verify the Receiving Wallet or Exchange
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Confirm the address or exchange account where you transferred the crypto assets.
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Ensure this wallet or exchange is yours and under your control.
Step 2: Add the Receiving Wallet to CoinTracker
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Navigate to your CoinTracker dashboard and select Add Wallet.
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Sync the receiving wallet or exchange by connecting via API, public address, or by uploading a CSV file.
Automatic Detection of Transfers
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Once both wallets (sending and receiving) are added and properly synced, CoinTracker automatically detects matching transactions as transfers.
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Ensure the send and receive amounts are aligned precisely for the transfers to match correctly.
What if My Wallet Isn’t Supported?
If CoinTracker doesn't currently support your wallet or exchange:
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Use the CSV import method.
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Prepare and upload your transaction history CSV file, ensuring correct formatting and that transaction dates and times align precisely for successful import.
For detailed instructions on how to sync via API, import via CSV, or add a wallet by public address, see the following guides:
Ensuring all your wallets are properly connected helps CoinTracker accurately categorize transactions and generate precise tax reports.