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Question

Calculation of coinbase transactions is wrong. The individual transactions are correct but the proceeds and cost basis are totally wrong. How do I fix this?

Forum|Forum|3 years ago
February 13, 2023
1 reply
0 views

No text available

TurboTax Premier Online

Employee

wrong compared to what?

proceeds and cost basis are not calculated.

That is the data that you enter. gain/loss is the calculated value.

noahliebsAuthor

The summary for Coinbase shows 3 things:

1. Total gain or loss

2. Proceeds

3. Cost basis

This is generated by importing a CSV of transactions. eg: Buy, Sell, Interest, Reward, etc.

The proceeds and cost basis are both in the ballpark of $500k, but i didn't trade an amount anywhere near that.

I fear that some sort of rounding error / floating point precision botched the calculation

noahliebsAuthor

Resolved.

Instead of downloading from Coinbase from directly using my credentials I used, "Enter another way" and directly input the gains and losses.