Blockpit cannot automatically classify many DeFi transactions. The missing assignment distorts the tax calculation. TX-Partner identifies and corrects unlabeled transactions.
Initial assessment of your Blockpit data - 30 Min.
A DeFi-active portfolio with multiple chains. Blockpit imports the transactions but cannot automatically assign many:
Unlabeled transactions are marked with a notice in the transaction list. Blockpit has imported the transaction but cannot automatically assign the type – the classification is missing.
Blockpit reliably recognizes standard transactions like purchases and sales on exchanges. As soon as DeFi, bridges, or unknown tokens come into play, automatic recognition reaches its limits.
Complex interactions like lending, yield farming, or liquidity pools are not fully interpreted by Blockpit. The smart contract call is imported but not classified.
Token transfers between chains (e.g., Ethereum to Polygon, Solana to BSC) create multiple transactions. Blockpit does not automatically recognize the connection.
New tokens, scam airdrops, or project-specific rewards are not recognized in Blockpit's database and remain unlabeled. Nevertheless, they can be tax-relevant.
Crypto tax tools calculate based on classified transactions. If transactions remain unlabeled, they are either missing from the tax calculation or incorrectly assigned. Both distort the result.
Crypto Documentation
Transaction history in crypto tax tool
Tax Calculation
Crypto tax tools & tax advisors
Compliance
DAC8, tax authority, tax advisor
If transactions remain unlabeled, Blockpit treats outgoing as sales and sets the cost basis for incoming at 0 € – both significantly distort the tax calculation.
When Blockpit displays the note "Fallback" on a transaction, it means: Blockpit could not automatically classify the transaction. The transaction requires manual review and correct assignment.
When Blockpit shows "Fallback" as a note on a transaction, automatic classification did not work. This particularly affects DeFi interactions, smart contract calls, and unknown tokens. Without manual correction, unlabeled outgoing are treated as sales and unlabeled incoming with cost basis 0 € – both significantly distort the tax calculation.
TX-Partner analyzes unlabeled transactions in the context of the entire crypto documentation. The crypto documentation is prepared so that every transaction is correctly classified – from DeFi interactions to bridge transfers to unknown tokens.
Correct classification is the foundation for correct tax calculation.
Identify Transaction Types
Every unlabeled transaction is analyzed and correctly classified.
Assign DeFi Protocols
Lending, farming, staking – correctly labeled in the tool.
Link Bridge Transfers
Establish and correctly represent cross-chain connections.
Blockpit-Compatible Labels
Ensure correct assignment in the tool so the tax calculation is accurate.
Blockpit marks transactions as unlabeled when it cannot automatically recognize the type. This particularly affects DeFi interactions, smart contract calls, and unknown tokens. These transactions are often not correctly considered in the tax calculation.
It depends on the portfolio. With pure exchange portfolios, there are hardly any unlabeled entries. With DeFi usage, 30-50% of transactions can be affected. Each one should be correctly classified, as it can be tax-relevant.
Detailed guide on classifying unlabeled transactions:
Blockpit Unlabeled Transactions: Complete GuideTX-Partner analyzes your Blockpit data, identifies unlabeled transactions, and classifies them correctly for tax calculation.
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