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 customized way. This information will be available for use in tax software or with an accountant.


Coinbase also plans to offer written guides and help videos in the coming weeks. Using this information, you can figure out how much to report and what to include on your tax return.

You can also get help with your crypto taxes from TurboTax Online, which covers the top 15 exchanges. The company will offer a $20 discount on TurboTax Online when you use it with Coinbase.


Also Check Other Blogs:

How To Get Crypto From Robinhood To Wallet

How Do I Access Robinhood Crypto Wallet

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