Coinbase, Exchanges

Does Coinbase Issue a 1099 B?

As one of the largest and most popular cryptocurrency exchanges in the United States, Coinbase is often asked about tax forms – in particular, whether or not it issues a 1099 B.

The answer is no, Coinbase does not issue a 1099 B. However, it is still important for Coinbase users to report their cryptocurrency activity on their taxes.

While Coinbase may not issue a 1099 B, it does provide users with a 1099-K form. This form reports the total amount of money that was sent to a Coinbase user from all transactions during the year.

NOTE: Warning: Coinbase does not issue a 1099-B form. The IRS requires Coinbase to provide customers with a 1099-K tax form instead. This form is intended to report taxation of income received from transactions involving virtual currency. Please consult with a tax advisor or accountant to determine how the information on the 1099-K should be reported on your taxes.

While the 1099-K form is helpful, it is still important for users to calculate their own gains and losses from cryptocurrency transactions. This can be done by using a tool like CoinTracker.

Once users have calculated their gains and losses, they can then report this information on their taxes. Cryptocurrency activity is taxed as capital gains, so it is important to report it accurately.

Overall, Coinbase does not issue a 1099 B form. However, this does not mean that users do not have to report their cryptocurrency activity on their taxes.

Users should still calculate their own gains and losses and report this information on their taxes.

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