Resolving Missing Acquisition Costs
Last updated
Last updated
If you have transactions with missing acquisition costs, this can trigger artificially higher gains on future disposals of crypto assets. It is therefore important to check any aqusitions that are zero cost and make sure this is correct,
First, go to the Tax screen, select the appropriate tax year card, and open the Acquisitions Report.
Under the section 104 pool side of the acquisition report, identify missing costs by looking for any entries where a token shows a Quantity Added figure AND also has a Cost Added (£) value of 0.
Make a list of these so you can come back to them later.
When done, use the Activity screen to find each transaction in turn and use the Tax and Prices tab to determine if the acquisition costs have been correctly calculated.
This status occurs when Recap has been unable to value a particular transaction due to it containing an unidentified asset or because of a lack of pricing information from our data providers.
Firstly, make sure that all assets have been correctly identified by following our Unidentified Assets guide. If you have lots of transactions for the same asset this will often resolve many failed to value warnings.
If the asset is correctly identified, then it’s likely there is a valuation issue. Click on a problem transaction from the Activity screen and check the Prices tab, for any red warning flags.
If you see a Failed or No Prices flag, please contact support and we can investigate - it may be due to a lack of data from our pricing providers or an asset mapping issue.
You can set manual token prices by pressing the blue Edit text to the right of a warning flag. Enter the GBP value of one of these tokens and then press the blue Save text. This will manually value this transaction and remove the Failed to Value flag.
Finally view the Acquisition Report to check that the transaction now has a Cost Added (£) figure.
Sometimes the the value of the acquisition costs will be less than £0.01 and will therefore show as £0. In this case you do not need to take any action.
