How to file your Coinbase Commerce taxes with Koinly
Coinbase Commerce is a crypto business platform, helping merchants around the world accept crypto payments easily with the support of crypto giant Coinbase. Whatever your investments, Koinly can help with your Coinbase Commerce taxes.
- Create a free account on Koinly
- Complete onboarding until you get to the Wallets page and find Coinbase Commerce in the list
- Click on it and select "File import" in the import options screen
- Upload the files you downloaded from Coinbase Commerce (one at a time) and click on Import
- Review your transactions on the Transactions page to ensure everything is tagged correctly and no missing data
- Go to the Tax Reports page to view your tax liability!
How do I file my Coinbase Commerce taxes?
You'll need to calculate and report any income or capital gains you made with your tax office. For most people, this happens as part of your annual tax return.
There are a couple of ways you can do this - do it yourself, by identifying your taxable transactions, calculating your net capital gain or loss, and the fair market value of any crypto income.
Or, use a crypto tax calculator like Koinly to easily calculate your taxable income for you, and generate your crypto tax report, ready to file with your tax office.
Koinly works by importing your crypto transaction data to analyze what's taxable, and what's not.
Koinly lets you manage all your crypto transactions - from all the blockchains, wallets, and exchanges you use - from one single platform, making crypto tax simple.
Your frequently asked questions
Does Coinbase Commerce provide tax documents?
Yes. Coinbase Commerce may provide you with a number of tax documents depending on your location and transactions.
How do I get tax reports and forms from Coinbase Commerce?
The simplest way to get your crypto tax reports done is with Koinly. All you need to do is upload your Coinbase Commerce transaction history CSV file to Koinly. Koinly will then calculate any gains, losses, income, expenses, and more, before generating a number of tax reports to help you file with your tax office.
Does Coinbase Commerce provide financial or end of year statements?
Yes. Coinbase Commerce offers financial statements for users for accounting purposes.