Duplicate Transactions When Both Coinbase and Coinbase Pro are Used

As title states, for every outbound transaction from Coinbase Pro, the Coinbase API is also showing the same transaction. This causes every outbound transaction to show both a matched and unmatched internal transfer which equates to a Withdrawal which equates to a taxable event.

While I do almost everything in Coinbase Pro, I have had transactions occur within Coinbase within the current tax year, so I need to keep both exchanges connected.

Hi @ElMoselYEE! We will take a look at this and get back to you on this ASAP.

Hi @ElMoselYEE,

These transactions are not actually duplicated, heres the situation, If you deposit or withdraw to Coinbase Pro, the flow that Coinbase does is always:

Wallet → Coinbase —> Coinbase Pro

Or if you withdraw from Coinbase Pro:

Wallet ← Coinbase <— Coinbase Pro

This is just the way that they do this.

You have 2 solutions:

  1. Either you classify the Coinbase Pro–Coinbase transaction as internal and then the transaction from Coinbase to the walet as internal.

Or

  1. You classify the Coinbase Pro to Coinbase transaction as ignore, and classify the Coinbase to your Wallet transaction as internal.

Hope that helps!

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Thank you for checking.

I was fairly certain I was seeing two transactions with the wallet as the destination (one from CB one from CB Pro), but as I do a test transaction today it is working the way you describe.

So maybe it really was me not understanding what to look for. Thanks for helping me understand, though!

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Hi @Alex after some additional transactions, I see there is still an issue (although symptoms are different than I originally reported).

What I’m noticing is the timestamps for how this dance between Coinbase and Coinbase Pro are not in sync so it causes the matching algorithm to struggle consistently. If you see below, “CB - Classic” is my Coinbase account and “CB - Default” is my Coinbase Pro account. I have done a transfer from CBPro to Nexo. However, because the timestamps order the events as: #1 CB → Nexo, #2, CBPro → CB, #3 CB → Nexo, the funds aren’t in my account at the time of withdrawing them. This causes drift in a number of places on Acointing, including total gains realized as well as profit chart on overview.

Yes, I am able to reconcile this by changing the timestamps myself, however this falls short of the goal of simply importing the transactions and everything being handled for me. It’s a lot of work to go update every transfer.

I understand this is likely on CB’s side, but it’s not an issue for me there, it’s an issue for me here, so hopefully there’s something that can be done.

Hey! Thanks for the time that you’ve put into this. We will be addressing this in our next priority meeting and we will get back to you on the solution. Appreciate your patience on the matter and hopefully we will be able to come to a solution soon.

1 Like

I just noticed this happening myself. It seems since this is a known flow of transaction that Accounting should know that the flow is always going to go from Coinbase Pro > Coinbase before transferring out instead of getting confused and seeing 2 options on where the internal transfer went. Not hard to fix, but hopefully it can be coded so we won’t have to fix it in the future.

Hey guys, does this article help? Using the Coinbase Pro API with ACCOINTING.com - Accointing Blog - Cryptocurrency Portfolio Tracking & tax Software

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