Knowledge Base

Knowledge Base / Financial Tools / Can I add cost basis information for my Bitcoin?
Financial Tools

Can I add cost basis information for my Bitcoin?

River Financial Knowledge Base Logo

If you have deposited Bitcoin from an external source, River will not know your Date of Acquisition or Cost Basis. While this is unknown, River will exclude these Bitcoin from your performance calculations until you manually input the cost basis information. When you do so, you will be able to more accurately use the Performance tools to track your gains or losses. To manually add performance information, please follow the instructions below:

1. Go to the Performance section of your account.

River Financial Performance Section

2. Scroll to the bottom of the screen and click “Add Cost Basis” for the Unknown Lot as a result of the Bitcoin deposit.

River Financial Add Cost Basis

3. Enter the Date of Acquisition for the tax lot, the Quantity of Bitcoin, and the Cost Basis (including fees). If the deposited amount was the sum of multiple Bitcoin acquisitions, you can break up your deposit into multiple Tax Lots by clicking "Add Row".

River Financial Enter Tax Lot Information

4. Once all the details have been added, click “Update” to save your changes. Once this is done, every tax lot you specified will now appear as a Known Lot. If you wish to edit this information in the future, you can click on one of the tax lots associated with the deposit and click "Edit Cost Basis" to revise the details.

River Financial Add Cost Basis

It is important to note that River will not be able to attest to the manually entered tax lot information. River can only attest to Bitcoin that you buy on the River platform.