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When trading on multiple exchanges like CashApp, Bitstamp and Coinbase, 1099-K and 1099-B forms are double taxing, since gain/loss is calculated on Koinly. What to do?
Koinly has all my Coinbase, CashApp, and Bitstamp transactions imported and is calculating my gain/loss for the year at a couple of hundred dollars, but then Bitstamp and CashApp are sending forms where the cost basis isn't correct and the gains are each more than the total from Koinly including all three exchanges. Does that mean I'm supposed to remove their transactions from my Koinly calculations and just be forced to accept the way Bitstamp and CashApp are calculating my gain/loss, and only calculate my own gain/loss for the Coinbase transactions?
March 9, 2025
11:00 PM