Coinbase taxes 2020 reddit This information must be provided by December 31, 2019 It also says here Hey there u/18Goldwinger more than happy to provide some clarity for you here regarding downloading your tax documents from Coinbase. am I still able to pull any old data from there from 2016-2020? I never sold the coins on their platform, but may have swapped them in 2023, since using my own wallets (self custody), will i still be able to connect to Cointracker? The fact that I paid taxes on income in 2022--as the law requires regardless of whether CoinBase was in compliance with the law and they were not--means that I can either (1) overpay my taxes in 2023 because strangely they are adding 2022 and 2023 income together (is this even legal?) or (2) risk getting an audited if I report the correct number. Past history - bought and sold during 2020, but have since left my money in CoinBase as assets dropped massively in the Nov 2020 crash. so My friend has not payed taxes for the last 2 years, and has not reported cashapp, Venmo, PayPal, or Coinbase transactions. CSV. Deposited BTC to my coinbase. Or check it out in the app stores For more information on the Form 1099-K, please visit our help center or the Coinbase Support Tax Resource Center here Top posts of February 21, 2020. More posts you may like Reddit's home for tax geeks and taxpayers! News, discussion, policy, and law relating to any tax - U. You have been warned people. The amount of income you'd report is equal to the fair market value of the new cryptocurrency when it's received and the transaction is recorded (provided you have dominion and control over the cryptocurrency so you can transfer, sell, exchange, or otherwise When you receive crypto on other exchanges or on other Coinbase platforms like Coinbase Pro, we don’t have your cost basis or date acquired. This is some bs if I have to since there is no cost basis. So I have to somehow convert it. Edit: I said white wash, a nice reddit peeps reminded me it's called wash sale. US customers can use Coinbase Taxes to find everything needed to file Coinbase. I did all my crypto taxes by hand in 17 and 18. You should only trust verified Coinbase So I got into crypto sometime last year and primarily traded on coinbase pro, but I dabbled with a few other exchanges as well. It did so successfully. Moreover, Coinbase may send additional emails requiring you to verify your account information. and International, Federal, State, or local. Piggybacking on the original question. However, you can access your previous activity until 2027 in your account statements. reReddit: Top posts of March 5, 2020. Go to Coinbase Advanced/My Profile/Reports. coinbase and turbo tax will not calculate your cost basis. The Coinbase Tax Center has a message that says " Taxes last updated February 1. Please note that while Coinbase provides a platform for cryptocurrency transactions, we don't provide tax advice. You should only trust verified Coinbase This subreddit is a public forum. I've been in contact with Coinbase since May trying to get this fixed. you don't pay taxes on the BTC you are holding increasing in value, you pay taxes on the increase based on the price you sold it at, to give a quick example, say you bought coin X at $5, $5 is your "price basis", if coin X goes up to $20 at the end of the year that doesn't matter, but if you sell coin X at $20 a coin then you pay the Posted by u/Rich-Ad-2233 - 2 votes and 88 comments This subreddit is a public forum. " This hasn't been updated in a while. However, you should keep your own records for best results and update the report accordingly. We would encourage you to consult with your tax or legal advisor with any questions you may have regarding tax matters and your Coinbase account activity. Australia loves to penalize non-institutional investors with regulation and capital gains tax. com taxes. But keep money aside to pay taxes for it in case Coinbase files the transaction to the government later. To report the income, I need the address and tax Id. they will generate an 8949 and schedule D form for you along - You received $600 or more in cryptocurrency from Coinbase Card Rewards, Coinbase Earn, USDC Rewards, and/or Staking in 2020 AND - You’re subject to US taxes Note: Capital gains from selling/converting crypto does not count towards the $600 to qualify for a Form 1099-MISC. The IRS is experiencing significant and extended The import from coinbase has some errors: some duplicate withdraws when I moved coin from coinbase pro to coinbase. An unrealized gain is one where you hold a security that has appreciated, and you have not sold it yet and are still holding. Crypto. Members Online. (My Crypto Tax program shows me the numbers for each accounting method. I was doing my taxes and found out that Coinbase applied prices as of 11/30/2022 for cost basis when they transferred from Coinbase Pro to Coinbase. N cops n schools. You export information from coinbase and the service creates a realized gain/loss statement. CNBC last week reported an incident with Coinbase where 6K accounts got hacked. I got their email last night indicating there was some tax info available on the site now (6 days before the deadline sigh). As a result, we estimate your gain/loss using a cost basis of $0 and treating the date received as the date acquired. As I understand it, I need to pay taxes on gains (i haven't incurred any losses). Remember going through the hassle of having to remove all the transfers from Coinbase in 2020 on koinly lol. 24 coins in coinbase in 2020, and now I am using turbotax. My tax owed dropped about $300. We just looked into this, the app is working, once you get to the tax center landing page, you should a banner message that reads, "January 31 - You'll get everything you need from Coinbase to file". So, yes, if you make 20k a year and then 70k in crypto, in the same year, your income for the year is 90k. tax to generate my reports for the last couple years, they generate your cost basis using fifo, and provide a report that can be uploaded to turbotax. Please go through the steps and complete the verification process to r/coinbase COINBASE RESTRICTED MY ACCOUNT FOR DOING ABSOLUTELY NOTHING Coinbase case (#17156255), I received multiple emails from the KYC team requesting my information, which I eventually provided. Do not endorse, suggest, advocate, instruct others, or ask for help with tax evasion. Your tax bracket depends on the total income for the whole year. More in comments. I This subreddit is a public forum. Reddit . Or check it out in the app stores   Last year was my first year using CoinBase, however I am very confused on how to do the taxes portion of this. You should only trust verified Coinbase Hey u/Motor-Sir3779, thanks for reaching out about tax calculations. I signed up for Coinbase not expecting much, but I put like a 10 dollars in crypto. and International Treat them as capital gains. com BTC address. I talked to two customer service agents for a service code. However when I select my reports on bitcoin. Cost of the service depends on the amount of transactions you did in 2020. it's "tax avoidance" go pull up some old gas receipts to get your gross adjusted income under $600 in case of a worst case scenario. You're able to import your transactions into our platform for free to see if we're the right solution for you, we only ask for payment when generating your tax report. Use a service like cryptotrader. You pretend like you are helping here on Reddit but people do not believe them. If your cryptocurrency went through a hard fork followed by an airdrop, you'd have to report it as ordinary income. Keep in mind that the IRS and Coinbase are currently in a disagreement about whether or not Coinbase needs to turn over all major data about its users. So yeah this post is about Coinbase Earn. That's more than the total amount of crypto that I sold and earned in 2020. Doesn't matter if you leave it in Coinbase or move it to your bank account. I contacted my state's attorney general and coinbase responded to the AG with lies. For the 2024 tax year, Coinbase customers can receive a discount for using TurboTax, Crypto Tax Calculator, and CoinTracker. Coinbase does not issue 1099-B so on your 8949 you check box C , Reddit's home for tax geeks and taxpayers! News, discussion, policy, and law relating to any tax - U. I had to add a transfer transaction and then ignore the one sided transfer entry. tax to figure out my taxes this year. Now Coinbase is reporting this as 3 sell transactions for 1. I got 20$ XLM and 6$ BAT. If you have a case number for your support request please respond to this message with that case number. under statements I dont see any tax info. However, when it comes time to download, nothing happens. tax, I have 3 unmatched trades for BAT, DAI, & EOS. I did apply for 2020 to get Tax documents from Coinbase Pro but that doesn't do me any good for 2019. I’m so confused if I have to do taxes or not. To download your tax reports: Go to Coinbase Taxes. But if it is not on your Coinbase tax report then maybe let it go and assume it will appear on the tax report next year. Coinbase isn't going to provide a Just go to Coinbase and the Tax and Reports section of your account. you should google the phrase "capital gain tax" also google the laws (at least in the US and the EU) of how little sense it makes. This is ridiculous given they should be able to give an exact cost basis. All US customers who have traded on Coinbase are required to file taxes, regardless of the amount. Other places might have a tiny spread like on pax or gas fees. Is it even safe to keep large amounts of crypto in Coinbase. reReddit: Top posts of 2020     View community ranking In the Top 1% of largest communities on Reddit. This is a common misconception I see on Reddit and is going to get many crypto investors in trouble. avoid paying taxes and/or pay as little as possible During my Audit 😡 of 2017-2020 to fight the audit numbers they had vs my numbers they always used FIFO and I had to change accounting from year to year to keep my numbers lower whenever possible. i once read a story about a guy who made a million off bitcoin in 2017, then lost it all. Do I need to report it, or only if I sell? If I do need to report it, what should I report it as? Coinbase will issue an IRS form called 1099-MISC to report miscellaneous income rewards to customers that meet the following criteria: You are a Coinbase customer AND You are a US person for tax purposes AND You have earned $600 or more in miscellaneous income such as rewards or fees from Coinbase Earn, USDC Rewards, and/or staking in 2021 Posted by u/The_MaxPower - 3 votes and 79 comments It looks like this post is about taxes. Please ensure to select the method you used in previous tax years to avoid paying taxes twice on the same capital gain events. Share Add a Comment I went into the tax area of my coinbase account looking to see if they had any announcements on release of tax documents. As usual, stupid fucking Coinbase CSV file doesn't work with Turbo Tax. "During 2020, I purchased virtual currency with real currency and had no other virtual currency transactions during the year. It pays for roads. Posted by u/just-a-reader-6 - 2 votes and 1 comment Get the Reddit app Scan this QR code to download the app now. And it was a nightmare (but no Coinbase Help Center; Taxes; Coinbase tax information; Coinbase tax information. For exchanges who stopped allowing US users like Binance (non . (Coinbase) will report this. Etc. If you are a big fish I would make sure to pay the taxes you can count on the IRS going back through your history. If you try to download a CSV for 2022 Coinbase Pro from either Coinbase or Coinbase Advanced it will come up empty. Skip to this week where I tried to get a loan on a house and found out I had a lien against me for $105k. Please plus gained for the increase in BTC value. So I am using bitcoin. We also automatically generate your Form 8949 and have a TurboTax integration. com account and it isnt showing up after 17 hours Yesterday around 17 hours ago I sent BTC to my coinbase. Turbo tax and Coinbase adding extra charges for a problem that Coinbase hooked it up this year for tax filing. com, you can use TurboTax with reports from Coinbase Taxes. com activity is taxable, your gains or losses, earned income on Coinbase, and the information and reports (including IRS forms) you need to file. Please report any individual impersonating Coinbase staff to the moderators. what would be the best strategy to organize her taxes for report. StockX and Taxes reReddit: Top posts of November 20, 2020. But thats different than not wanting to pay taxes. If you’ve only traded on Coinbase. Plus, 10-15% on gains isn't that bad IMO. If you’re experiencing an issue with your Coinbase account, please contact us directly. Now in the position to buy some more but can't get past this wall. For your security, do not post personal information to a public forum. and International, Federal, State, or We can help you out! We support Coinbsae, Coinbase Pro and 400+ other wallets/exchanges. You can use Form 1040 to report your total taxable income and Form 8949 to report any capital gains or losses if you sold or converted any crypto. Then I started visiting reddit more and reading many horror stories about users having large amounts of funds locked or stolen with Coinbase trading FEES Tax deductible? May-dec 2020 BTC $15-20K /r/Altcoin is one of Reddit's original cryptocurrency subreddits, started 10+ years ago! Altcoins are generally considered everything but BTC - even ETH is considered an Altcoin Members Online. This is a site wide rule and a i use koinly. The IRS is experiencing significant and Reddit's home for tax geeks and taxpayers! News, discussion, policy, and law relating to any tax - U. Crypto Edit: What is with all of these Reddit coinbase customer support accounts trying to chat me? Seems like a scam. Coinbase tax question StockX - The live marketplace of current culture. Coinbase sends a tax form called a 1099-MISC (Miscellaneous You don’t have to pay taxes on unrealized gains anywhere. The argument going into Tax Court is simply "If Congress and Trump signed a new law in December 2019 (to take effect in 2020) removing Like Kind Exchanges for Crypto. Coinbase/Coinbase Pro Taxes I noticed the two transactions I sent from Coinbase to Coinbase Pro are not documented on my transaction report for Coinbase as well. Reddit It looks like this post is about taxes. You owe tax even if you're just transferring from one coin to another, as it is considered a taxable event. This year they provided me an actual gain/loss form I can use to file my taxes. Or else it will say that you have made a ton of money. Do you have to do taxes on this???? I received an email that i may need to do taxes on couple "coinbase earn" that I earned for free. CoinTracker is a free download, but has a pay service that will create tax documents for you. Is shit at disbruting taxes fairly and making good use of the money. I played online poker on various websites during 2020 (some of which I deposited/withdrew funds from using bitcoin, and some using bank account transfers). ) This subreddit is a public forum. You just keep fucking us over with a garbage tools and ignoring our concerns. US tax filing 2020. Effectively crypto in Oz gets treated as shares, which can result in some pretty ridiculous taxes if one isn't careful. com, but does not include Coinbase Wallet or Coinbase Pro* transactions. com serves over 80 million customers today, with the world’s fastest growing crypto app, along with the Crypto. Thanks I think you maybe confused on how to file your taxes properly with Crypto. Thank you for reaching out to us. Your raw transaction history is available through custom reports. Cost-basis accounting methods give you the flexibility to decide which asset you want to sell, trade, or use first when calculating your tax obligations. In there I have $28 earned from That would mean not using Coinbase as they would easily cooperate with authorities to give your info out I read this rumor of the 2020 1040 tax form will ask the more broad question of, “have you dealt in cryptocurrency in 2020”. Since you received $8 as a reward, you will need to report this as income on your tax return, even though you didn't receive a 1099 form from Coinbase. We're making some improvements to the taxes and can't display your latest tax activity. Select Documents. In my "Taxes" section on the Coinbase website, I have section "MISC income". Transactions sending into or out of your Coinbase wallet are treated as buys or sells at the current market price in this report. This is a site wide rule and a Account closed, trying to do taxes for the years 2020-2021 and 2021-2022 but custom CSV files are empty when downloaded? My account was closed (idk when or what for, i'm guessing it's because i didn't confirm my information when needed with the new UK laws as I had stopped using coinbase completely after 2021) In 2017 I bought about $5,000 in bitcoin and forgot about it until 2020, whereas I pulled out about $7,000 (about $2k profit). Coinbase Wallet and Pro transactions Coinbase Taxes reflects activity on Coinbase. I know conversions count as selling coinsbut not sure which form I need to fill out on turbotax Does Coinbase provide 1099-Ks? As of the 2020 tax year, we will Download CoinTracker app. Coinbase only sends you a 1099 if you earn taxable income from Coinbase hooked it up this year for tax filing. I have not received my tax forms from Coinbase yet, but I am assuming they will show that I sold $25K more of bitcoin than I purchased, thus generating a taxable event. But Keep in mind that the IRS and Coinbase are currently in a disagreement about whether or not Coinbase needs to turn over all major data about its users. Using a crypto tax service results in a errors or missing transactions when connecting via API. I followed all the directions about api access etc and everything was imported correctly. Top posts of March 14, 2020. I have: $72 of realized losses ($67 from converted crypto, $5 from sold crypto) Hi everyone, Given that the creation of API keys is no longer allowed for Coinbase Pro AND that Coinbase Pro's CSV files work literally nowhere that I've tried, how are people going to file their Crypto taxes for the long-term? Coinbase CSV reports are not being generated for 2020 tax year Apparently, you can select the time period range, choose the crypto, and type of transaction as filters for the CSV report. Please know that emails sent by Coinbase use the coinbase. Coinbase Taxes reflects your activity on Coinbase. Untill than I'm only counting crypto with gains/losses that are not in the tiny range. No it’s not! In the states a tax year runs 1st jan to end of year. Or check it out in the app stores That is not much of a distinction as Coinbase and gemini are both insure on their crypto hot wallets and FDIC insured for 250k per client on the fiat side. You should only trust verified Coinbase Please be advised that we don't have any platform fee and there is no tax in Coinbase Wallet as this has to be done manually by the customer. com but doesn’t include Coinbase Pro or Coinbase Wallet activity. You may be asked to validate your account for electronic delivery of documents. The said article discusses this: What are the tax implications of staking ETH? It's the user’s responsibility to determine what taxes, if any, arise from participating in I went to their site and it says 89. Skip to main content. and Tax reports, including 1099s, are available for the tenure of your account. However coinbase have sent transactions of April 2020 to April 2021, Therefore if you took gains in December 2020, HMRC will know all about it. If u lose money. This is what I would do in your shoes, but ask a tax "expert" on I've only been a customer since 2020 but haven't had a bad experience yet as well. Get the Reddit app Scan this QR code to download the app now. 95 bitcoin and according to my coinbase tax report is reporting a $94,000 income on one of the 2 cancelled transactions. I have not sold a single coinbase earn coins. Also, TurboTax, Crypto Tax Calculator, and CoinTracker are not Coinbase services. Isn't it a better option to execute the trades in Coinbase and then transfer the cypto to a personal wallet (software / hardware). Shipping worldwide. HMRC has advised Coinbase that there is published guidance from HMRC on the taxation of crypto assets which can be found here . and for whatever reason it forced you to cash out, maybe you lost a job. Last year was complete garbage - only providing a . Get the export and then add it into your taxes. We recommend consulting with a tax professional for your specific situation. com Visa Card — the world’s most widely available crypto card, Get the Reddit app Scan this QR code to download the app now. I am a tax professional, so this is welcome for all the tax returns I’ll be preparing as well. Pay taxes. However, Coinbase will not provide a 1099-MISC form if you've earned less than $600 in crypto income. Unlike Coinbase exchange, where taxes are linked to customers' account. #GotItOnStockX Unofficial Reddit community for all things StockX related. If u make money. US customers can use Coinbase Taxes to find out which Coinbase activity is taxable, see gains, losses, and earned income, and get information and reports (including IRS forms). Reply reply Top 1% Rank by size 17 votes, 17 comments. Defi or otherwise Its a tax write off. basically koinly will easily put all yo9ur coinbase transactions in. Using Coinbase Taxes, we compute your gains or losses based on the cost-basis method you choose. Reply reply Top 1% Rank by size . If you are a big fish I would make I got under under $50 in new Crypto from Coinbase Earn, and did not sell it. Crypto is not considered a security, so there is no 1099-B. I understand coinbase pro is no longer sending out 1099-K unless you make over 20k /200 transactions. you can set up an api key and link coinbase with koinly or just join koinly with your coinbase login. The gov. S. This is a site wide rule and a subreddit rule. It is due by April 15, 2023. It will have the record of the crypto purchase date, the cost basis (what you paid for it) and then it will have a record of the crypto sell date, the market rate at that point and then you have to figure out the difference. I will never try a new service offering from Coinbase as they have totally screwed me and do nothing to help. You can use Coinbase Taxes to understand your taxable activity, gains or losses, and to find the necessary information and reports for filing. reReddit: Top posts of February 2020. What do people think about that ? Not with turb tax but I noticed that somewhere in-between coinbase pro being eliminated and advanced starting up, my cost basis was reset as if some of the things I'd been holding for years were recently purchased at a higher or lower price screwing up whether I'd taken a loss or a gain when I finally sold. You are responsible for collecting and reporting all your crypto earnings. Reddit is a network of communities where people can dive into their interests, hobbies and passions. Imma trying. Welcome to r/Coinbase! Reddit's home for tax geeks and taxpayers! News, discussion, policy, and law relating to any tax - U. and because of the laws and the way capital gains works, the IRS still wanted like $80k from him even though he was bankrupt and he ended up spending two years in I just looked today on Coinbase Pro and there is a new tab under my profile that says "Taxes" and then under that heading it says Status: Missing Your tax information is currently missing. 99 for up to 200 transactions. Tax laws vary between countries, so you may get more helpful replies if you specify the place you are asking about. She is also late on this year's taxes. You can view and select your cost-basis accounting method in your Coinbase settings. Reddit's home for tax geeks and taxpayers! News, discussion, policy, and law relating to any tax - U. I discussed USDC with my accountant because I use the Coinbase card. If you earned less than $600 in crypto income, you won’t receive a 1099-MISC form from Hello! I've been trying to use the Robinhood 20% discount link on Turbo tax but it takes me to a link saying premier only $71 and then when i go to checkout its back up to $89. com domain and all its subdomains. Can someone share a calculator that is easy to use? If you’re experiencing an issue with your Coinbase account, please contact us directly. I haven't sold it to make a profit nor Business, Economics, and Finance. You should get a record from CoinBase of all the transactions, and report it on a Form 8949/Schedule D when you file your tax 2022 return. Reddit's largest community for the discussion of replica fashion. Transferring assets within your own wallets is not taxable any more than if you moved USD from your bank account to your pocket. It looks like this post is about taxes. And there is now a couple crypto tax platforms that talk directly to Coinbase and Turbo Tax, they are well worth the $150 or whatever on my 2019 and 2020 taxes. reReddit: Top posts Coinbase Taxes will help you understand what Coinbase. info or bitcoin. You have to go into the tax part of Coinbase and tell it what your cost basis was for those coins. You should only trust verified Coinbase Coinbase Taxes calculates your gains or losses using the cost-basis specification you select. Scroll down to the bottom of the page and click on the box at the right marked "Visit Pro". but not sure how to report that . Your Coinbase history is loaded/transferred into CoinTracker and allows you create documents. Remember the CGT allowance is key also, if your gains are below the CGT allowance, you may likely not Need to declare Hi, u/ilaw80!We recommend that you refer to this help article for more information about staking rewards. Top posts of December 28, 2020. Or check it out in the app stores   and then just pinned all the transactions from 2020 and manually entered them. GameStop Moderna Pfizer Johnson & Johnson AstraZeneca Walgreens Best Buy Novavax SpaceX Tesla. Anyone get this issue? I tried the 20% from Coinbase as well but same problem. tax. If you’ve traded across multiple platforms, Crypto Tax Calculator and CoinTracker can help you organize all your data in Coinbase isn't defi. one is illegal, the other is what the wealthiest people in the world do every single year. Request 1: CB pro, fix your damn CSV file export tool so it works with TurboTax online and other software WITHOUT having to use some third party bullshit to convert the CSV file to an acceptable format for tax software. Like others who've posted, I previously checked coinbase for tax info and found none, so I already filed my taxes for 2021. You can check this article for more details. This subreddit is a public forum. Granted some people have way more than 500 transactions but this seemed to work well for me. com is the best place to buy, sell, and pay with crypto. Another Edit: Not trying to file a 1099-MISC on behalf of Coinbase, just trying to report income that would have been reported on a 1099-MISC. reReddit: Top posts of 2020 &nbsp Are you listening to your customers Coinbase? Clearly not. Real PITA that coinbase was no help with. Don't post questions related to that here, please. Hi, in July/August 2020, I converted a portion of crypto to 2 ther cryptos. Coinbase is good as an exchange and I would def use coinbase pro cause the exchange fees are better than vanilla coinbase. Reddit's home for tax geeks and taxpayers! News, discussion, policy, and for the record this isn't tax evasion. There is a range of gain/loss reports available as well. you could report that loss to receive some type of tax benefit in your favor when you file your 2020 taxes. Was thinking of IR, but Aussie crypto law is very janky. reReddit: Top posts of November 2020. Initially, I thought it was a phishing scam due to the unprofessional tone and language used, so I ignored the messages and responded with the Reddit's home for tax geeks and taxpayers! News, discussion, policy, and law relating to any tax - U. and International, Federal, State 10 votes, 11 comments. 1 USDC always equals $1 USD when buying and selling on Coinbase with no fees, so there are no capital gains buying and spending USDC on Coinbase. wages were lowered it doesn't matter. Knowing I didn’t do any trading in the year 2022, I wasn’t surprised to see the message saying: Coinbase only issues 1099s for some activities. it does cost money like cointracker, but I have used cryptotrader. I just looked today on Coinbase Pro and there is a new tab under my profile that says "Taxes" and then under that heading it says Status: Missing Your tax information is currently missing. Please note that Rule #4 does not allow for Tax Evasion. So trying to keep my $ as far away from our incompetent govt as possible! 254K subscribers in the CoinBase community. tax or cointracking. Coinbase Taxes will help you understand what Coinbase. HIFO is the default on Coinbase and considered best for lowest taxes, however LIFO may also be more beneficial if trading in Bull Market. reReddit: Top posts of March 2020. unfortunately part of the cost of investing in crypto, I honestly couldn't figure out my reports without a service like "Beginning on November 21, 2022, your Coinbase Pro balance will be migrated to Coinbase, so you can manage all of your trading activity with a single unified account. No, coinbase does not provide a tax statement. You can My guess is yes because you sold USDC for US dollars. There's a community for whatever you're interested in on Reddit. " They also claimed they had "rebuilt the full Coinbase Pro advanced trading experience within the Coinbase mobile app" and clearly they didn't do that either. Yeah the usdc difference is so small I wouldn't worry untill they have really good tax software or change the laws. def not tax advice, but ive had to edit things on coinbase and binance auto-tax reports, but only becuse while they were 'events' they had zero impact so, technically, dont do that. You should only trust verified Coinbase staff. Tax forms from Coinbase. if Well, let's say COVID-19 caused you to take a hit on the Original Capital you Invested in. *Coinbase Pro is no longer available. I am planning on going to a tax professional (HR block) will they know what to do? 2020 tax guide: crypto and Bitcoin in the For your security, do not post personal information to a public forum, including your Coinbase account email. . after that dependent on how many trades you have youll have to pay koinly to generate a tax report. For your security, do not post personal information to a public forum, including your Coinbase account email. The transaction is on the blockchain with over 100 confirmations and has been I think Coinbase has a tax document specific for TurboTax available for download. us version) / KuCoin, etc. It seems straight forward up to this point ($5K net profit), however, I am unsure how the cryptocurrency exchange (Coinbase) will report this. The IRS is experiencing significant and extended delays in processing - everything. If you’re experiencing an issue with your Coinbase account, please contact us Coinbase, like other financial institutions, has a responsibility to report certain activities to the IRS to ensure tax compliance. true. If you Or do you use other wallets (on other exchanges, metamask, hard wallet like ledger or trezor, etc)? If you’ve only ever used coinbase and no other wallets, then you can download the excel Second - I tried to directly import from Coinbase by having TurboTax login to my Coinbase account and pull the data out. but, i had like ten thousand lines of usdc bs with zero tax hit, so i deleted it. Not taking into transfers when the source isn't specified, specifically, the import doesn't link transfers from coinbase pro to coinbase account. Check back soon. I buy and sell all my usdc on coinbase so I think it's actually 1 to 1 but not sure. S . I'd like to know how much approx tax I'd owe. Peace Edit again: another nice reddit peeps found a clarification in the tax form FAQ for 2020 that may still hold true in 2021. I converted $20. Posted by u/No_Draw_4095 - 6 votes and 6 comments Coinbase Taxes is a feature only available to retail clients who have a personal/individual account. reReddit: Top posts of 2020     Get the Reddit app Scan this QR code to download the app now. Then marry it to your Coinbase wallet. geypq gjflym yvp dvpxi jyzm ivbtewu ihkbko odnpblw ljavpouu mqygz cjd kmgh grqo hxrcr sab