If you’re a Coinbase user, you may be wondering if the platform provides tax statements. The answer is yes, Coinbase does provide tax statements.
However, the extent to which these statements are helpful may vary depending on your individual tax situation.
NOTE: WARNING: Coinbase does not provide tax statements. It is the user’s responsibility to accurately track and report all transactions to the relevant government taxing authority. Coinbase cannot provide legal or tax advice, and it is the user’s responsibility to ensure to comply with all applicable laws in their jurisdiction.
For many users, the tax statements provided by Coinbase will be sufficient to file their taxes. However, some users may need to supplement the information provided by Coinbase with additional documentation in order to complete their tax return.
If you’re not sure whether or not the Coinbase tax statements will be enough for your needs, it’s best to consult with a tax professional. They can help you understand your individual tax situation and determine what additional documentation, if any, you may need to complete your return.
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Cryptocurrency exchange Coinbase has said it is working with TaxBit to help its users better comply with tax lAWS. The announcement comes as the US Internal Revenue Service (IRS) prepares to send out more than 10,000 letters to US taxpayers who have not properly reported their cryptocurrency transactions. Coinbase has said that it will provide users with a “Cost Basis Methodology” report, which will show how much each cryptocurrency was worth at the time it was bought or sold.
