Historical price warnings appear when CoinLedger is unable to fetch the historical price of a specific coin. Transactions with coins that are missing their historical price are skipped and not included in CoinLedger's final tax reporting calculations because they are missing vital historical price information. However, they will be re-included in your tax reporting calculations once you enter a historical price.

Historical price warnings are not common, but they may appear if:

You can manually enter a historical price for your coin if you know what the price of the coin was at the time you were trading it. Use a tool like CoinGecko or CoinMarketCap to look up the historical price of the coin for the timestamp of the warning. Once you have located the price of the asset at the time you traded it, continue on to these steps below!

Step 1

To manually edit the historical price of a coin, navigate to the Transactions page and select the Historical Price Warning banner.

Step 2

Next, select Update Historical Prices.

Step 3

Now, within the Price Warning modal, you can manually enter the value of 1 unit of your coin at the particular Timestamp you were trading it. Do this for each asset that is missing an historical price (listed under Assets as shown below).

Remember to use a tool like CoinGecko or CoinMarketCap to look up the price of your coin at the specific timestamp you traded it.

Once you have entered a price for each asset, select Save All Prices.

Step 4

Now, your Historical Price Warnings will be resolved. CoinLedger will use the value you just manually entered to calculate your gains and losses on these trades.

Do I have to enter the historical price one-by-one for every transaction that is missing a historical price on my account?

No, you do not! The Historical Price Warning tool in CoinLedger lets you bulk enter historical prices for each asset that is missing its price. This saves you time and prevents you from having to enter the historical price for every instance of an asset missing pricing data on your account. See Step 1 above for this workflow.

What price should I enter for liquidity pool/placeholder tokens?

Pricing tokens like this are a grey area under IRS guidelines. Liquidity pool/placeholder tokens are usually exchange or protocol specific, which means our system does not have pricing data to draw from in order to establish the historical price. This is the same issue often encountered with low market-cap tokens or spam airdrops. When it comes to setting the historical prices on those LP tokens, this is up to your discretion and we're not able to give a precise recommendation on what price you should set for these tokens.

You can either put a $0.00 price for this asset or you can put the historical price of the Original Asset. For example, if OM is $0.20, and you traded it for MDAO OM, you can set the Historical Price of the LP token as the same as the original asset. We ultimately recommend consulting with a tax professional on this specific question if possible to make sure all your bases are covered.

What price should I enter for an airdropped NFT?

Since this NFT is an airdrop, setting the historical price can be difficult. There are different ways to determine the value of an airdropped NFT, but no certain "right" way. You can look at similar NFTs and use their historical price on your airdropped NFT, or see what the value is when a price can be established. There are legitimate reasons why an airdropped NFT could be worth $0 or close to zero. Applying a value of $1 is an appropriate solution here. We ultimately recommend consulting with a tax professional on this specific question if possible to make sure all your bases are covered.

Have any questions? Reach out to our Support Team anytime at [email protected] !!