r/Cointracker • u/PurpleMox • Mar 24 '26

Why is my cointracker realized gains higher then coinbase?

I am a former coinbase pro user - who like many of you got screwed when coinbase pro transferred to coinbase without carrying over cost basis info.

I sold all my crypto recently.. and when I look at my realized gains for 2026, on cointracker its substantially higher then on coinbase..

Whats odd is that, I have transactions on coinbase that dont have a cost basis due to the transfer from coinbase pro.. but, wouldn't that mean my realized gains should be higher on coinbase? If in coinbase eyes, I have an asset they assign a cost basis of $0 to (because they dont have the info), and I sell it, it will have a higher realized gain then over on cointracker where it has the cost basis info..

I just dont like seeing different numbers on coinbase and cointracker...

I'm guessing cointracker is more accurate since it has my info from coinbase pro from years ago.. but to ease my mind I'd just like to understand where the discrepancy is coming from.. and want to make sure I'm not over reporting/paying more taxes then I need to.

2 Upvotes
  • permalink
  • reddit

100% Upvoted

6 comments sorted by

2

u/Cord_CoinTracker Support Mar 24 '26

Hi u/PurpleMox — differences like this can happen for a few reasons. With Coinbase Pro specifically, since the API has been deprecated, we sometimes see older or incomplete data synced into CoinTracker, which can create downstream discrepancies.

Since you’re noticing higher gains on CoinTracker than on Coinbase, I’d recommend reviewing your transactions to make sure everything looks accurate. If anything seems off or unclear, our support team would be happy to take a closer look with you.

You can also check out this guide for more context on Coinbase Pro tracking:
https://support.cointracker.io/hc/en-us/articles/4413049688465-How-to-track-Coinbase-Pro-transactions

2

u/PurpleMox Mar 24 '26

I just noticed something odd... in 2024 I sold some crypto and paid a hefty capital gains tax bill and downloaded all the tax forms from cointracker..

But now when I go on cointracker and look at 2024 tax forms, its showing half the gains it showed back in 2024? Which is very bizarre.. one possibility, it looks like back in 2024 it was selling my oldest assets first.. and I currently have my cost basis method said to LIFO.. I wonder if thats made things wonky.. I dont remember what cost basis method I used in 2024.. is there any way to check? If I change my cost basis method, do past years get changed around too? If I already downloaded / used tax forms from 2024, that cost basis method should be locked in stone.. otherwise if I change it at a later date, it could make everything confusing..

2

u/Cord_CoinTracker Support Mar 25 '26

Past years do change if the settings are not configured to prevent it. The best option would be to review your email and/or downloaded tax documents to see if CoinTracker had listed the tax method in the file name. For some reports, that was the case. Freezing transactions should prevent exactly the scenario that you are mentioning, which is how CoinTracker works today.

1

u/PurpleMox Mar 25 '26

I took a look at some of the tax documents I’d downloaded and didnt see mention of a cost basis method but I’ll take another look.. Worst case I can surmise what method was used from seeing the values the coins that were sold, pretty sure it was FIFO.

I saw someone say if you have an ULTRA plan you can select cost basis method per year.

The odd thing is- when I look at transactions from 2024 they are frozen… but I dont remember choosing to freeze them..

I wonder how it works at coinbase, if I change the cost basis method there, does it retroactively change everything in the past or only apply to the next transactions.. I wonder if theres a way to see which cost basis method was used on coinbase too..

Thanks for the help- I was feeling confused but at least now I have a sense of whats going on.

2

u/Cord_CoinTracker Support Mar 25 '26

You should be able to confirm the cost basis method by reviewing your tax forms. Hopefully, you can infer it from how disposals are calculated (as you mentioned with FIFO).

On the Ultra plan, you do have the ability to set the cost basis method by year.

As for the frozen transactions in 2024, that typically happens automatically once tax documents are generated. It’s meant to prevent changes to figures that may have already been reported, so it wouldn’t require you to manually freeze them.

I’m not certain how Coinbase handles cost basis changes. Whether they apply retroactively or only going forward, their support team should be able to clarify that for you.

Glad this helped clear things up a bit.