Matching Deposits and Withdrawals
Last updated
Last updated
Each Deposit transaction in your Recap account should be matched to a corresponding Withdrawal, and vice versa.
For example, if you have a Deposit of BTC into your Coinbase account, there should be a corresponding Withdrawal from another account, such as a self-custody wallet or another exchange.
You need to match all deposits and withdrawals that represent internal movements between your accounts, then closely review any unmatched transactions to determine whether they are internal transfers or potentially taxable events.
To do this, go to the Activity screen and filter by transaction types Deposit and Withdrawal. Scroll through these movements and match them accordingly.
Unmatched deposits or withdrawals may indicate a missing account, such as a wallet or exchange account. If you manage to track down your transaction data for any missing account, you can import it into Recap.
If you identify unmatched deposits or withdrawals that are not internal transfers, they may actually be acquisitions or disposals of crypto assets. In this case, you can either:
Edit the transaction to reclassify it.
Enter a manual trade to reflect the actual transaction.
Use the Sent/Received in a different currency feature to account for the movement.
Note: If you have a deposit that was actually an acquisition and you choose to add a manual transaction to account for it, you may need to balance your account to avoid double-counting the asset.
For example, if you have a Deposit of 1 LTC into an account that was actually a Gift and you add a manual Gift transaction for 1 LTC, Recap will incorrectly reflect a balance of 2 LTC. In this case, also adding a Withdrawal for 1 LTC will balance the account.
Remember, Deposits and Withdrawals are simply movements of crypto, so they won’t affect your tax calculations on their own (unless they have a corresponding fee attached).