Purpose of Displaying the Cost Basis Log
The cost basis calculation log is displayed to provide a transparent and traceable record of how the cost basis for a particular cryptocurrency is determined and tracked through multiple transactions. This ensures that users can clearly understand how the initial investment (cost basis) in one cryptocurrency translates through various trades and ultimately affects the final transaction.
Data Points
• CT Id: This is the unique identifier for each transaction.
• Buy: The amount of cryptocurrency being purchased.
• Buy Coin: The type of cryptocurrency being purchased.
• Sell: The amount of cryptocurrency being sold.
• Sell Coin: The type of cryptocurrency being sold.
• Regular CB: It indicates the initial cost basis.
• Cost Basis: The cost basis amount in FIAT.
• Buy Used: The amount of cryptocurrency from the buy transaction that is used in this specific transaction.
• Cost Basis Used: The portion of the cost basis applied to this specific transaction.
By displaying this detailed log, users can clearly see the progression and adjustments of the cost basis through each transaction, maintaining a clear audit trail and facilitating accurate financial and tax reporting.