Does Coinbase Provide a Tax Statement?
Whether you're self-employed or just working for an employer, you'll have to report your cryptocurrency income and losses on your tax return. In addition to capital gains, you'll have to account for gains, losses, fees, and the cost basis of your holdings. Using a quality CPA service can help you determine the cost basis of your transactions. Also Read:- How To Transfer Crypto from Coinbase to Robinhood If you earn more than $600 in crypto during the tax year, Coinbase will send you a 1099-MISC . The form doesn't report the price of your coins, but it does provide a summary of your activity. However, it won't provide you with all of the information you need to complete your tax return. If you don't qualify for the form, you won't receive any other tax forms from Coinbase. Coinbase is attempting to fix this problem with a new section of its app. The new section will allow customers to see their taxable activity, including capital gains and losses, in a custom