How do I classify internal transfers between Coinbase wallet and Coinbase vault?

I just registered and connected my Coinbase account. Accointing now asks me in step three of the review process to classify some transfers.

The options for classification that I am being offered are e.g. airdrop, bounty, … , ignored, swap etc. etc. I am not familiar what all of this means :wink:

The transfers that I need to classify all relate to internal transfers between my Coinbase wallet and my Coinbase vault. So just left pocket to right pocket, no tax implications.

What would be the correct classification? None of the offered options seems to make sense?

Many thanks
Floriana

hi… these transactions were not shown in step 2… there were other transactions shown in step 2, e.g. transfers between coinbase and coinbase pro… but the transactions related to shifting between coinbase wallet and vault were not shown in step 2 … they now just show up in step 3 and i don’t know how to classify them… :slight_smile:

If your transfers between coinbase portfolios are not picked up in step 2 then classify them as either “add funds” (Deposit) or “Remove funds” (Withdraw).
Since Accointing already sees them as “transfers”, they should not have tax implications. The other categories are for internal transactions misclassified.

They should add a classification called “transfer” to fix transactions that should be internal transfers.

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Here is the breakdown of classifications: Crypto Tax Classifications : Accointing AG
Here is how you are taxed per classification: You searched for classifications - The Hub on ACCOINTING.com

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