I've imported my Coinbase transactions and received an error that the cost basis could not be calculated. I have not used any other crypto exchange, how do I resolve?

[ShirlynW]

KarenJ. posted the following: Determining the cost basis for cryptocurrency is similar to figuring it out for stocks or property. Your cost basis is the fair market value of the cryptocurrency on the date of the transaction. This is true even for transactions where you received cryptocurrency as payment for goods and services. We use the FIFO (first in, first out) method in our calculations, which complies with government regulations.

You can go to one of the following websites to help you calculate your cost basis:

• Bitcoin.tax
• CoinTracker.io

Additional Information.