How does reporting Coinbase on taxes work?

1 answers

• May 13, 2022 · 3 years ago
  When it comes to reporting Coinbase on taxes, it's important to keep accurate records of your transactions. You'll need to gather your transaction history from Coinbase, including the date, type, and amount of each transaction. You'll also need to calculate the cost basis and fair market value of your cryptocurrencies. Once you have all the necessary information, you can use it to fill out the appropriate tax forms. Remember, accuracy is key when reporting your cryptocurrency activities to the IRS. If you need assistance, consider consulting a tax professional who specializes in cryptocurrency taxes.
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