CoinLedger integrates with hundreds of exchanges, blockchains and wallets. Most of the time, your transactions will be classified correctly the first time you import them. However, some exchanges or blockchains report data in an incomplete state.

For example, if you purchase crypto with fiat, some exchanges will not export the fiat amount spent in the transaction and instead only export the crypto amount received. This means your transaction would get imported into CoinLedger incorrectly as a simple deposit.

On the other hand, some blockchains may report a transaction type to CoinLedger that we do not automatically integrate with yet, and this will lead to it being imported as an uncategorized transaction.

In these rare cases, you'll need to manually classify these transactions into the correct type so that the proper tax treatment gets applied. We will discuss how and when to do this below.

When do I need to manually classify transactions?

You may need to manually classify a transaction when:

You see Uncategorized transactions on your account
A buy of crypto was imported as a simple deposit, leading to a missing cost basis
A transaction where you received crypto income was imported as a simple deposit
CoinLedger flagged a Potential Trade, Bridge or Transfer within your account

How can I classify my transactions?

You can review, edit and classify your transactions on the Transactions page. You classify transactions one-by-one or in bulk.

Click on the drop-down sections below to learn how to classify your transactions in each of the following scenarios.

Uncategorized Transactions

If your wallet transacted with a smart contract or decentralized app that we don’t have a native integration with yet, the transaction will be classified as Uncategorized in CoinLedger. Uncategorized transactions may also appear when you import a transaction type that CoinLedger doesn't automatically recognize.

Uncategorized transactions are treated as non-taxable events that are not factored into your report calculations. Learn how to classify these transactions in this guide.

If you have questions specifically about classifying NFT Mint transactions which were imported as Uncategorized, those can be answered here: How to classify NFT Mint transactions

Fix a Buy that was imported as a deposit

If you are looking to fix a buy which was imported into CoinLedger as a simple deposit, you can learn more about that process here: How to edit a deposit into a buy to fix incomplete data exported by a crypto exchange

Crypto income transaction imported as a deposit

A transaction which appears to be a simple deposit could actually be an instance of you receiving crypto income. Crypto income transactions can include:

airdrop
staking reward
mining reward
received gift
interest income

If you believe that a crypto income event was imported into CoinLedger as a deposit, you can resolve this by reclassifying the transaction. We recommend reviewing the transaction history of the exchange or wallet the transaction occurred in before doing so to ensure you select the right transaction type.

Step 1

Locate the transaction you would like to classify. Then, click on the three dot menu and select Change classification.

Step 2

Select the transaction type you would like to reclassify it to, and then press Save.

You can also reclassify multiple transactions at once by checking the box next to each transaction and then clicking Mark as.

Finally, select the transaction type you would like to reclassify the transactions to. Each of the transactions you selected will now be reclassified.

Classify a Potential Bridge, Trade or Transfer

CoinLedger will identify any potential bridge, transfer or trade transactions that were not automatically mapped upon import on the Transactions page. If our system flags any of these potential transactions on your account, we recommend merging them together to ensure that your capital gains are calculated correctly. You can easily merge these transaction together by following the process here.