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As a Coinbase user, you are probably familiar with the fact that Coinbase allows you to send and receive crypto assets. To make transactions, you need to pay Coinbase taxes and when cryptocurrencies are received from or sent to an external source, Coinbase does not have access to your data to make an exact reflection of your gains and losses.

Well! For trading, it is important to have a good and accurate idea of your gains and losses so what can you do to have this?

In this case, Coinbase suggests its users to verify the details after transactions and make corrections in the transaction details after Coinbase login so that Coinbase can provide you with an accurate view of your gains and losses.

Do you know how to edit transaction details on Coinbase? Don’t worry, we will provide detailed guidance to do so.

Steps to add transaction details on the Coinbase crypto exchange

1. Open your browser and launch Coinbase login.
2. Now, hit the account identicon and pick up “Taxes”.
3. Choose “Activity” and then the “Missing details” option from the prompted menu.
4. Thenceforth, hit the “Add details” button now select the data that you want to edit.
5. After this, click “Add details” and input the following details:

• Transaction reason
• Date Acquired
• Total cost basis

6. After all, press the “Save” option and download the new gain/loss report.

This way, you can edit the Coinbase transaction data to get the exact reflection of your gains and losses.

Here’s how you can edit transaction details on Coinbase

1. Initiate the process by performing a Coinbase login.
2. Hit the accounts icon and open the menu.
3. Pick up the “Taxes” option and click “Your tax activity”.
4. Now, select the transactions that you want to edit from the prompted list.
5. You will see that now your selected transaction is labelled “Modified”.
6. Press the “Modified” button and open the transaction to edit.
7. Afterwards, select the “Edit” tab and provide these details.

• Transaction reason
• Date Acquired
• Total cost basis

8. Once it’s done, click on the “Save” option to complete the process.

You can use the similar process to perform this transaction edit process if you are using the Coinbase mobile app. And, then you can download the new gain/loss report after Coinbase login.

The Bottom Line!

Coinbase is a crypto exchange that allows its users to send, receive, trade, exchange or stake their crypto coins. The cost basis is automatically detected when the transactions are taking place through the Coinbase platform and will provide the precise gain/loss report.

But, as I have mentioned at the get-go of this data piece, Coinbase Pro Login is not able to configure the cost basis of the assets which you’ve received as a gift. So, to know the exact cost basis, you need to approach the sender. Afterwards, you can edit your transaction details by using the process I’ve elucidated in this read.