Coinbase, Exchanges

Will Coinbase Provide Tax Documents?

As the largest US cryptocurrency exchange, Coinbase is under constant scrutiny from the IRS. In 2017, the IRS issued a John Doe summons to Coinbase, seeking information on all US customers who had made transactions worth $20,000 or more from 2013 to 2015.

Coinbase fought the summons in court and eventually won, but the IRS has since issued a narrower summons for information on customers who have made trades worth $20,000 or more from 2015 to 2017.

It is widely expected that Coinbase will eventually provide the IRS with information on these customers. While Coinbase has not yet confirmed that it will do so, it seems likely that it will eventually comply with the IRS summons.

NOTE: WARNING: Coinbase does not provide any tax documents. It is important for users to keep accurate records of their cryptocurrency transactions and to consult with a qualified tax professional for advice on how to properly report their cryptocurrency-related income and capital gains. Coinbase does not provide legal or tax advice and is not responsible for any taxes or fees imposed on users.

This would provide the IRS with information on the identities and transactions of thousands of Coinbase users.

The question of whether or not Coinbase will provide tax documents to the IRS is a complex one. On one hand, Coinbase has a duty to comply with US law and may eventually be forced to provide information to the IRS.

On the other hand, Coinbase has fought hard to protect the privacy of its users and may be reluctant to hand over sensitive information. Ultimately, only time will tell whether or not Coinbase will provide tax documents to the IRS.

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