Coinbase, the largest cryptocurrency exchange in the United States, is no longer supported by TurboTax, the country’s biggest tax preparation software.
The move was announced by Intuit, the company that owns TurboTax, on Monday. It said that Coinbase users would no longer be able to directly import their transaction data into TurboTax.
“We will no longer support the ability to directly import your Coinbase transactions into TurboTax,” Intuit said in a statement. “You can still manually enter your transactions into TurboTax.”
The decision affects only those who use Coinbase’s services to buy and sell cryptocurrencies. It does not affect those who use the exchange to store their cryptocurrencies.
NOTE: Warning: Coinbase is no longer supported by TurboTax. If you use Coinbase to report your cryptocurrency taxes, you will need to use a different service. Please be sure to use an alternative reporting method if you are using Coinbase.
The news comes as a blow to the cryptocurrency community, which has been eagerly awaiting the arrival of mainstream adoption. For many, the ability to easily and accurately report their cryptocurrency gains and losses to the IRS was seen as a key step in that direction.
It is not clear why Intuit decided to stop supporting Coinbase. The company did not respond to a request for comment.
However, the move comes just weeks after Coinbase was hit with a class action lAWSuit over its alleged failure to prevent insider trading during last year’s Bitcoin Cash fork. It is possible that Intuit decided to distance itself from Coinbase in light of that lAWSuit.
In any case, the loss of TurboTax support is a setback for Coinbase and the cryptocurrency community at large.
8 Related Question Answers Found
Coinbase Pro, the advanced trading platform of cryptocurrency exchange Coinbase, has been designed to meet the needs of experienced traders. One key feature of the platform is its low fees, which are due in part to the fact that it doesn’t charge withdrawal fees. This is a significant advantage for traders who need to move their funds around frequently or who trade on multiple exchanges.
When it comes to trading cryptocurrencies, one of the most important tools that you have at your disposal is a stop-loss. This is a safety measure that allows you to limit your losses in case the market takes a turn for the worse. So, does Coinbase Pro have stop-loss?
It’s no secret that Coinbase has been making some changes lately. The most recent change that has people talking is the removal of price alerts. For those who don’t know, price alerts are a feature that allows users to set up alerts for when the price of a certain cryptocurrency reaches a certain threshold.
As the largest US-based cryptocurrency exchange, Coinbase has enjoyed a dominant position in the market. However, recent data suggests that Coinbase may be losing market share to its competitors. Coinbase has been facing increased competition from other exchanges, particularly those based in Asia.
Coinbase, one of the most popular cryptocurrency exchanges, is shutting down its professional trading platform, Coinbase Pro. The news was announced in a blog post on the Coinbase website, which stated that the decision was made in order to focus on the company’s core mission of building an easy-to-use crypto exchange. Coinbase Pro was launched in 2018 as a more advanced trading platform for cryptocurrency investors.
It was recently reported that Coinbase, one of the most popular cryptocurrency exchanges, has been “shut down.” However, it appears that this is not the case. Coinbase is not shut down. The rumor appears to have started because Coinbase was inaccessible for a short period of time on June 26th.
If you place an order at the market price that gets filled, you are charged a taker fee. If you place an order that doesn’t get filled immediately, you may be charged a maker fee. Coinbase Pro charges maker fees at 0% and taker fees between 0.10% and 0.25%.
When it comes to withdrawing from Coinbase, there are a few things to keep in mind. First and foremost, Coinbase does charge a fee to withdraw. The amount of the fee will depend on the method of withdrawal that you choose.
