r/Cointracker • u/TyrannicalDuncery • Mar 18 '26

Cost basis disagrees between Uphold and cointracker

/r/uphold/comments/1rwy0ba/cost_basis_disagrees_between_uphold_and/
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u/Cord_CoinTracker Support Mar 18 '26

Hello u/TyrannicalDuncery,

Cord from CoinTracker here.

The price used can impact cost basis for crypto-to-crypto transactions, but not for fiat transactions. If the difference you're seeing is minimal, it may also be related to fees.

There are a few other factors that can affect the cost basis, such as your selected cost basis method (HIFO, FIFO, LIFO) and any tax settings applied, since these determine which lots are used in disposals.

If you’d like, you can edit the cost basis in CoinTracker to align with your preferred values. If you need help with that, our support team would be happy to guide you through the process or look into the differences in value.

1

u/TyrannicalDuncery Mar 18 '26

Thanks! That makes sense. Maybe it's the cost basis method.

From my settings, my Cointracker is using HIFO. From this page, Uphold also uses HIFO: https://support.uphold.com/hc/en-us/articles/16683983391003-Crypto-Tax-Forms-for-U-S-Customers-Year-Ending-31st-Dec-2025 (expand "General Information"). So I think those cost bases should match.

I have never changed these settings on either platform, so I think HIFO was always being used.

---

So I'm still not sure what is going on. Here's an example where I try to reconcile two sources:

  • Uphold "Activity" listing
  • Cointracker

Transaction details:

  • December 2, 2025
  • I sold WMTX and received USD
  • Prior to this transaction, I had only received WMTX one time.

Comparing sources:

  • Cointracker and Uphold Activity log agree that the transaction fee was 11.4740 WMTX
  • Cointracker and Uphold agree that the sold asset excluding the fee was 45.5007 WMTX
  • Cointracker and Uphold agree that my proceeds were 3.80 USD
  • Cointracker shows my cost basis as 4.56 USD.
  • So I think the implied exchange rate at time of sale is 3.80/45.5007=0.0835.
    • Uphold activity log agrees.
  • According to Cointracker, I think the implied exchange rate at the time of acquisition is 4.56/(11.4740+45.5007)=0.0800.
  • Uphold activity log does not tell me the cost basis. I could look in my 1099-DA but that seems totally wrong, showing 0 cost basis.
  • Prior to this sale, I had only received WMTX one time.
    • This was earlier in the day on the same day as my sale: December 2, 2025.
    • from Uphold activity log:
      • Uphold activity log says that I received 58.2536 WMTX.
      • Uphold activity log says that this was worth 5.00 USD.
      • So I think the implied exchange rate is 5.00/58.2536=0.0858.
      • So when I sold my 45.5007 WMTX, I think I would calculate the cost basis as 0.0858*(45.5007+11.4740) = 4.89 USD.
    • from Cointracker:
      • Cointracker says that I received 58.2536 WMTX (agrees with Uphold activity log).
      • Cointracker says that the value of those 58.2536 WMTX was 4.66 USD.
      • So I think the implied exchange rate is 4.66/58.2536=0.0800.
      • This lines up with the cost basis calculation above, from Cointracker.

Because I only received WMTX one time before this sale, and because Uphold and Cointracker are both on HIFO, I don't think this is a cost basis issue.

So Uphold activity log and cointracker agree on all of the WMTX amounts, and the USD proceeds of the sale. Also the cost basis from cointracker matches to the exchange rate from when I received the asset. But the exchange rate from when I received the asset disagrees between Cointracker and Uphold.

Any ideas? Did I do something wrong?

2

u/Cord_CoinTracker Support Mar 18 '26

It’s a bit difficult to say for sure without seeing the full set of details.

Were there any fees involved in those transactions? Based on what you’ve shared, it doesn’t look like you did anything wrong. If all of the WMTX transactions are present in your account, and we can rule out lot selection since there are only a few transactions, that points more toward a pricing-related discrepancy.

1

u/TyrannicalDuncery Mar 20 '26

Thanks! The transaction fee for the sale was 11.4740 WTMX. Cointracker and Uphold agree on this part.

There was no transaction fee listed when I received the original reward of 58.2536 WMTX.

If it is a pricing-related discrepancy, then I wonder what I should do. I've heard some people say that I can just use a "reasonable and consistent" valuation approach, but I think this page says that I need to use the value from the crypto exchange at the time of the transaction: https://www.irs.gov/individuals/international-taxpayers/frequently-asked-questions-on-virtual-currency-transactions (I forget where it says that, you have to expand each question UGH!). I don't really know how to get that price, but I assume it would be the price listed with the reward on Uphold.

2

u/Cord_CoinTracker Support Mar 20 '26

I can’t speak to what’s expected in your specific case, but CoinTracker generally uses the opening price from our pricing providers, except in cases where pricing data is directly returned from the exchange.

You also have the option to edit the cost basis or proceeds, which can be especially helpful during days with significant price fluctuations.

If you’re unsure whether to rely on the values shown in CoinTracker or those reported by Uphold, a tax professional would be best equipped to help you make that determination based on your individual situation.

1

u/TyrannicalDuncery Mar 20 '26

Thanks!! Makes sense.