I have spent the last 9 or 10 days, all day on this and I’m starting to feel like I’ve made some progress.
My tax report is producing the correct gains/losses. more or less.
Except for 1 massive misfire. The report is producing a USDT loss that is 6 times the value of my whole portfolio. I have 10 wallets and 13 exchanges. So it’s a bit of a mess but it’s starting to clear up.
But I don’t even know where to begin to fix this massive USDT loss issue.
As I type this one thing comes to mind. I have Kucoin in my account listed as a ‘wallet’ and not an exchange. My import process has been manual csv with lots of editing. Did it somehow interpret the total volume of trades as a loss? Nothing even close to the USDT loss amount is coming up in unclassified transactions or transfers, which is why I don’t even understand where to begin to fix this.
UPDATE: I found about 6 transactiosn showing ridiculous cost basis of 1 to 2 million dollars.
For example there is an order that is correct $1248 USDT sold for 23,253 VRA but underneath it says
cost basis $770,051 and I did not input that value. It’s in the gray bar under the order. (BTW this is a terrible UI design since it looks like it is relevent to the order underneath since it is separated by a line.
How/why is a tremendous cost basis automatically coming up?