Article Summary
This article explains how to manually add cost basis to deposited bitcoin on River using the Bitcoin lots section of the Performance page.
If you've received bitcoin into your River account from a different wallet or exchange, River does not know your acquisition date, your cost basis, or the price you paid. When you receive bitcoin into your account, River applies the market price at the time of receipt as an estimated cost basis for performance tracking.
Please note that your estimated cost basis information is provided only for your reference. River cannot guarantee its accuracy and will not report it to the IRS. For the most accurate tracking, we recommend updating your cost basis manually using your own records.
Step 1: Go to "Performance" page
On river.com, click on "Performance" found on the left side of your homepage. This functionality is currently not available on the mobile app.
Step 2: Click "Bitcoin lots"
Click "Bitcoin lots" at the top of the screen. Then, click on the "Received bitcoin" tab. Click "Add" in the table for any received bitcoin to which you would like to assign a cost basis.
Step 3: Enter lot information
For each bitcoin lot, you can add the acquisition date, the quantity of the bitcoin, and the total cost of the received bitcoin, inclusive of all fees.
If the received amount was an aggregated sum across multiple bitcoin deposits, you can divide this sum into smaller bitcoin lots by clicking "Add Row."
Step 4: Update lot
After updating each respective lot, click "Update" to save your changes. Going forward, every bitcoin lot you manually update will remain in this table and will reflect accurate performance metrics. If you would like to change this information, you can do so by clicking "Edit" to revise any details.
Please note that River cannot attest to any cost basis information that was manually entered for a received bitcoin lot. River can only attest to bitcoin that was acquired on River.