Whenever possible, CoinTracker automatically synchronizes transaction and price history for DeFi wallets and platforms. Sometimes, however, the price history of a token may be missing. This most commonly occurs when we do not have the price history of a particular coin or if we do not have your complete transaction history. You may see these errors on some of your transactions:
Example of error flags: "Could not determine the cost basis of this purchase - assuming a cost basis of $0.00" or "Could not determine the value of this sale..."
First, make sure you have added your 100% complete, all-time cryptocurrency transaction history to CoinTracker so we have all of the data we need to correctly calculate cost basis and proceeds for each transaction. You must enter 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. 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.
Sometimes, we cannot determine cost basis or proceeds because we do not yet support the token. We are rapidly working on expanding our list of supported tokens and price histories, which will entirely eliminate this problem in most cases. In the meantime, you can manually solve the issue by adding the proceeds and cost basis on the transactions page.
To do this, simply navigate to the relevant transaction with a
needs review flag and then use the down arrow on the right-hand side of the page to select the relevant coin and then "Edit cost basis" or "Edit proceeds" depending on whether the flag is on the left or right-hand side of the transaction respectively. From there, you can manually enter in the correct price of that coin on that date, by looking up the price from Nomics, CoinMarketCap or on Etherscan.
After you add proceeds and cost basis, CoinTracker will re-compute your cost basis (you'll see a yellow banner at the top of the page). After a few minutes, go ahead and refresh the page. Once the yellow banner is gone, you'll know the recomputation is done and you'll see the red flags disappear