Coinbase, Exchanges

Will Coinbase Pro Send Me a 1099?

As a US-based exchange, Coinbase is required to report information to the IRS about customers who have made over $20,000 in profits from trading on the platform. In order to do this, Coinbase will send out 1099-K forms to these customers come tax season.

So, if you made over $20,000 in profits from trading on Coinbase Pro in a given year, you can expect to receive a 1099-K form from the exchange come tax time. However, it’s important to note that you will still be responsible for reporting your crypto profits to the IRS even if you don’t receive a 1099-K form.

While some traders may be worried about getting a 1099-K form from Coinbase Pro, it’s actually nothing to be concerned about. The form simply provides the IRS with information about your trading activity on the platform so that they can properly tax your earnings.

So, if you do receive a 1099-K form from Coinbase Pro come tax season, don’t worry – it’s just another way of the exchange making sure that you’re paying your taxes on your crypto profits.

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