How Do I Add Cost Basis?

The Unknown Gains flag is a common flag seen by TaxBit users. We have the resources in place to help you resolve these flags.

Related Articles:

• What Does Unknown Gains Mean?
• How Do I Resolve "Unknown Gains"?

On a flagged transaction, there’s no button to click or space to enter the market value of the asset at the time of purchase, also known as cost basis. To add the cost basis, we need to add the acquisition data for a given asset. The most important part of using TaxBit is making sure all of your transactions have been recorded properly.

There are a couple of ways to add the missing acquisition data; keep in mind that TaxBit can support data from all platforms. 

Here are methods that will work for all sources:

1. If your platform offers the option to export your transaction history into a CSV file, you can import the CSV file into your account.
2. If you’re unable to get a CSV export from your platform, then you can manually add transactions. To do this, click the Add Transactions tab in your TaxBit account. Then, click Add Transaction at the bottom of the window. Fill out the transaction details—check out this guide HERE for more info on transaction types—and click Save Transaction.

For more detailed instructions on how to fix Unknown Gains flags, check out the related articles linked above.

Still have questions? Send us an email at support@taxbit.com, or chat with us using our live chat feature, and we'd be happy to help!

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Keywords:

Adding Cost Basis

Unknown Gains Flags

Acquisition Data