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Can I manually enter an asset's cost basis?
Can I manually enter an asset's cost basis?

Learn how to resolve a Missing Cost Basis Warning by manually entering your cost basis for an asset

Benjamin Yoder avatar
Written by Benjamin Yoder
Updated over 2 weeks ago

Yes. While CoinLedger always recommends importing your entire crypto transaction history to resolve a Missing Cost Basis Warning, you can manually enter an asset's cost basis in CoinLedger by following the process below.

Introduction

Missing Cost Basis Warnings happen when you haven't shown CoinLedger how you originally purchased or otherwise acquired a certain cryptocurrency. In most cases, importing your missing transaction history data is the best way to resolve a Missing Cost Basis Warning. Importing your missing transaction history data can include uploading a transaction history CSV file from an exchange you have not imported yet, importing a missing wallet address, or connecting one of your exchange accounts to CoinLedger via API. For any exchanges that we do not offer CSV file or API support for, you can import these transactions into CoinLedger manually.

That said, if you are trying to resolve a missing cost basis warning but do not have access to your transaction history for a given exchange, CoinLedger does allow you to manually enter a cost basis “position” for an asset with a missing basis. You can enter a Manual Position for any asset that is missing its cost basis on the Transactions page.

Please note that CoinLedger always recommends importing your transaction history data to resolve a Missing Cost Basis Warning. In most cases, the solution to a Missing Cost Basis is simply to import your missing transaction history data. However, if you don’t have access to an exchange to download your transaction history or if you simply wish to manually enter a cost basis for an asset, you can do so by following these steps!

Entering a Manual Cost Basis Position

Step 1

Head to the Transactions page of your CoinLedger account. Next, select the Add Transactions button.

Step 2

On the Add Transactions pop-up menu, select the Position tab. This is where you will create your Manual Position transaction.

Step 3

When creating a Manual Position in CoinLedger, you’ll need to fill out the following fields:

  • Source: The exchange or wallet where this position was created.

  • Timestamp: The date and time at which the position was created.

  • Fiat Currency: The fiat currency which you exchanged for crypto.

  • Cost Basis: The price that you paid in the above fiat currency for this crypto.

    • Ex: If you bought 1 Litecoin for $70, your cost basis is $70 per Litecoin.

  • Asset: The crypto asset which you purchased/are entering a Manual Position for.

    • Ex: If I bought 1 Litecoin for $70, I would enter Litecoin as the asset.

  • Amount: The amount of crypto which you purchased/are entering a Manual Position for.

    • Ex: If I bought 1 Litecoin for $70, I would enter 1 as the amount.

Putting it all together, here is how I would enter a Manual Position for 1 Litecoin which I purchased with USD on December 1st, 2023 on Coinbase:

Note that my Cost Basis is in USD, since USD is the Fiat Currency I entered for this Manual Position.

Step 4

Once you have entered each of the necessary fields for your Manual Position transaction, select Save. Your Manual Position will now been created for the asset you selected. You can locate this transaction by filtering for your Manual Positions on the right-hand side of the screen under Transaction Type, as shown below:

You can edit or delete this Manual Position at any time by selecting the three dots next to the transaction and selecting Edit transaction or Delete.

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