Hi,
New to CoinTracking and seeing how it works.
I purchase and transfer BTC from one exchange (withdrawal) to another (deposit) and the "Cost Basis" ends up ZERO on the target exchange.
Example
- Inject $1000 USD with a deposit from my Chase Bank into Abra
- Trade $1000 USD into BTC in Abra (no fee)
- Withdraw all this BTC from Abra (fee)
- ... and deposit BTC into Bittrex
- Use 20% of this BTC in Bittrex to trade for another coin (e.g. SALT)
When I look at the Tax Report, it shows Capital Gains with zero cost basis - I assume for the Bittrex transaction when I sell the transferred BTC to purchase SALT.
1) What do I need to do in CoinTracking to correct the Cost Basis tax report?
2) How does CoinTracking handle multiple BTC purchases - where the basis is different for different amounts? I assume this would use FIFO, but is there anything I need to do to make that work?
Thanks!
Bob Bogardus