Coinbase, Exchanges

Does Coinbase Work With TaxBit?

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.

NOTE: WARNING: Coinbase does not currently work with TaxBit. Users should not attempt to use Coinbase in conjunction with TaxBit as it is not supported and may result in unexpected errors or other issues.

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.

The report will also include any fees or other charges incurred while buying or selling cryptocurrencies on Coinbase.

Coinbase says that it is working with TaxBit to help its users better comply with tax lAWS. TaxBit is a startup that provides software to help businesses and individuals comply with tax regulations. The report will also include any fees or other charges incurred while buying or selling cryptocurrencies on Coinbase.

1 Related Question Answer Found

Does Coinbase Have Custodial Accounts?

As of late, there has been much talk about whether or not Coinbase has custodial accounts. For those who don’t know, a custodial account is an account where the private keys are held by a third party. In the case of Coinbase, this would be the company itself.
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