Cross wallet swaps/trades

Coinpanda Support Exchange/Wallet Import Issues
1

So Atomic wallet has the ability to do swaps/trades between coins (just like an exchange) but there is no accounting for the trade across the two separate wallets. For example I can trade BTC for LTC, but this just shows up as a SEND from my BTC wallet address and a RECEIVE in my LTC address. What is the proper way to get these to show up as a trade? I was thinking to mark the send and recieve as IGNORE and then manually input the trade transaction, but in which wallet would i put the trade transaction? The SENT token or the RECEIVED swap token? (in this example the BTC address or the LTC address). Or should i created a new wallet with just trade transaction? But then how would the cost basis get calculated/generated for the trade?

Appreciate any help

2

As far as I know you can just mark both the send and receive transactions as internal but let me double check with the team.

3

Hi @fordie, after checking with our resident tax expert the best way to fix this is to keep the send and receive transactions and just manually edit the cost basis of the receive transaction to be the same as the proceeds of the send transaction.

Marking both the send / receive as ignore and creating a trade transaction will actually create another issue with the balance calculated wrong so this isn’t something we would recommend.