Use Coinbase or Coinbase Pro? Learn how to sync your Coinbase accounts with Koinly to work out your crypto taxes. In this video we'll show you how to import your Coinbase and Coinbase Pro transactions into Koinly for tax purposes. We will go over how to use the API auto-sync feature on Koinly as well as manually import csv statements in order to import your full transaction history.
Koinly is a super accurate crypto tax calculator that supports all the top crypto exchanges including Coinbase and Coinbase Pro. The best way to connect to both and import your transactions is by using the API sync option.
However, the CSV files that these services provide may be missing certain data. We advise against that but if for some reason you do need to import data with CSV files, I will show you how to do that towards the end of the video.
To connect Coinbase to Koinly, navigate to the Wallets page and click on the Coinbase option. Select Auto-sync. This will redirect you to the Coinbase website where you'll have to give permission so Koinly can read your transaction history and balances.
This is all read-only data which means Koinly will only be able to read your history, and not actually trade or transfer funds. Using Koinly to compute your crypto tax is a safe way to import data.
Once you've hit 'Authorize' Koinly will now import all transactions from your Coinbase account. This takes a couple of minutes.
Next we will add a Coinbase Pro exchange account. Keep in mind that Coinbase and Coinbase Pro require 2 separate wallets. Koinly won't get access to your Pro trades just by connecting to your main Coinbase account.
The setup process is a little different here as Coinbase Pro uses API keys. For those who don't know, an API key allows computer software and applications, such as Koinly, to access your account and read the data that you give it permission to read.
To complete the setup, head over to the Coinbase Pro website:
We do not recommend using CSV files because they don’t contain your entire transaction history. However, if you are unable to connect with API, then you can try importuning data with CSV files.
For this you will have to download the tax report csv file on Coinbase:
Next, we will go to Coinbase Pro:
If you have multiple accounts, you can add them using the same steps we covered above.
It's normal to see transactions from Coinbase Pro to Coinbase even if you never sent them. This is because whenever you transfer crypto from Coinbase Pro, it is internally sent to your Coinbase account first before being sent out to the destination address. These transactions are not taxable events so they have no affect on your taxes.