Hi all,
Like every year, I’ve once again found myself filing taxes at the very last minute, thanks to some entirely unjustified procrastination—and, inevitably, I’ve run into a situation.
I purchased XLM back in 2020–2021 on Binance and transferred it to Coinbase on 01/31/2024. I then sold all of the XLM on Coinbase on 11/22/2024. However, the Coinbase tax document lists the acquisition date as 01/31/2024 (the transfer date), and it marks the resulting gains as a short-term capital gain, even though I originally bought the XLM over 2–3 years ago.
From what I understand, the acquisition date should be when I originally purchased the crypto—not when I transferred it. Am I correct? I’m considering manually adjusting the acquisition date on the tax document to reflect the original purchase date. Would that be the right thing to do? Any suggestions?
Thanks in advance!
