Kraken issues a trading credit and flows incorrectly into Koinly via API
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N
Navy Koi
During the creation of a Kraken account, to encourage trading, Kraken issues 3,000 credits to your account. When the Kraken exchange is added to Koinly via API, this credit is flowed as a transaction, and Koinly correctly treats this as a $3,000 deposit. This result in the tax calculations being wrong by $3,000
Jack
marked this post as
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It was imported as a deposit of token FEE that has no value (because it's only a token that can be used to pay for fees -> fee discount, basically) but you used "Change Currency" to change it to AUD. And also added a "Funding fee" tag.
You should:
- Revert the change you did - see how in Change Currency (if Koinly imported the wrong token) | Koinly Help Center
- Since you changed it to a token you otherwise use, you will have to delete the rule,
- then permanentlydelete the deposit - Deleting and Permanently Deleting Transactions | Koinly Help Center
- and resync the wallet from the beginning - How to trigger a full re-sync | Koinly Help Center
- If you want, you can tag the deposit of FEE as Airdrop but it won't affect your total income, since the value of FEE token is $0.
If you have any other questions, please contact our Support team via our in-app chat, as it's sometimes easier to explain via screenshots, which we can't do publicly.