Acquisition costs for ICO is ZERO resulting in wrong tax calculation

please see screenshots

ico1.png+ico2.png
Binance lottery tickets (2 Accounts) declared as an ICO
Acquisition costs are 0!
It should be the price of the BNB at this day.

I have several other ICOs on Binance and ETH Wallets, same problem: costs zero or even cost calculated but acquisition date is wrong! (Date of Eth withdrawal as ICO, this is even worse if you ask me)

There is also one ICO correctly calculated.

In sum this are several thousand Euros calculated without acquisition costs.
This is becoming a disaster for me!

What can I do?


Did you follow the guide?

The issue does not seem to be an ICO issue.

I believe this problem is related to the fact that the coin is not tracked on CoinMarketCap at the time of purchase.

It never takes the cost of the sold coins to calculate the acquisition cost and only goes off what CoinMarketCap says the price was at that time. Since the price wasn’t tracked since it was an ICO, the price would be $0. I could be wrong on this though

Thanks to @alantbarlow for helping me answer this question.

Some ICO’s have more than one batch. I send 10k to a project and they send the tokens over months. For example, first batch in march, next one in may and so on. how do we classify those when the app only lets one tx to be classified for an ico.

so we should classify ICOs as otc?

The best thing to do in this instance is to wait until all your tokens are received, then consolidate all the transactions into a single deposit. You do this by classifying them all as ignored, and adding a manual deposit of all the assets received at the time of the last deposit. Then you can classify the transaction as ICO.

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Thank you @alantbarlow