Arbitrum fees not computed
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Petur
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Petur
Hi,
This is interesting to hear as I'm not aware of any such issue.
Would you be able to share a transaction hash of one of the transactions where the fee is being ignored by Koinly?
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Pink Amphibian
Petur: Please check this tx: https://arbiscan.io/tx/0x81beb27b3642c5a973d0478d6a434f68d1a60c061cc30df26dbed8f8c0b5ae25
There is a 0.0001581999 ETH Transaction Fee, but no trace of it when imported into Koinly.
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Petur
Pink Amphibian: Hi Oxido,
Thanks for the example!
The fee is actually captured but when ETH is the sending currency, we actually just add the fee to the total sent amount.
You will see that Koinly reports that you spent 0.74226106
on this transaction, which is the sum of the ETH spent and the ETH fee.
We might be able to display these separately in the future, so that the UI looks clearer, but this will not affect any tax calculations since the fee is handled correctly with this approach
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Pink Amphibian
Petur: Thanks for the explanation. For most individuals this actually works, but there may be cases (mainly if crypto is declared as a business activity) where fees can be deducted, so it's useful and more consistent with the info on chain if those fees could be explicit in the reports.
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Petur
Pink Amphibian:
That would be a separate feature for us though.
All trading fees will currently be included in the cost-basis of the purchased asset. This means that the fees are handled automatically and they get deducted from your gains when you sell the asset.
We will look into supporting itemized deductions for trading fees at some point, and we will make sure to separate the gas from the rest of the sent amount before this feature is implemented.
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Pink Amphibian
Petur: That'd be great. Thanks for your reply, Petur!