(Cost Basis begins at 5:30)
What is it?
Cost Basis is a background process that calculates the cost basis and cost layers for all crypto transactions which involve a "Sent" coin and/or a "Fee" coin (trades, transfers and withdrawals). The Cost Basis function is triggered when clicking the Run Cost Basis button at the top of the Crypto Transactions screen:
How does it work?
If cost basis is currently running you will see a progress bar on the Crypto->Transactions page, similar to the following:
If cost basis has completed successfully you should see no progress or error message at the top of the Crypto Transaction List. In addition all of your trade/transfer/withdrawal transactions should have a value in the "Sent Cost Basis" and "Fee Cost Basis"(If they have a fee coin) columns.
In some cases you will find that the cost basis process has failed. In this case you will see an error notification at the top of the crypto transaction list:
This error should provide detailed information to assist resolving the cost basis error.
For detailed instructions of resolving typical cost basis errors see this article How do I resolve cost basis errors?
Managing Cost Basis
Cancel running cost basis
If you have a lot of transactions cost basis may take some time to complete. While it's running you are blocked from editing/deleting transactions. Instead of waiting for cost basis to complete to add your transactions you can click the Void button to cancel cost basis in order to stop it from running. After it is cancelled, the next time it runs it will start from where it left off.
Cost basis warning
If you see this warning, and hover over it, it will notify you that cost basis may be inaccurate and needs to run.