How to file your Coinbase Pro taxes with Koinly
Coinbase Pro has been discontinued, but if you had previous transactions, you'll still need to calculate any potential Coinbase Pro taxes due. Whatever your investment strategy on Coinbase Pro, Koinly can help you get your crypto taxes done
How to do your Coinbase Pro taxes with Koinly
It's easy to do your Coinbase Pro taxes with Koinly. Just import your transaction history from Coinbase Pro. Once Koinly has your transaction history, it'll calculate your gains, losses, income, and more, before generating your crypto tax report.
Follow these steps to download your Coinbase Pro data:
- Log in to your Coinbase account.
- Head to the Coinbase Pro Account Statements page through this link: http://accounts.coinbase.com/statements/pro
- Under the Generate Custom Report section section on the right, select the following options: Report type: Account, Portfolio: All Portfolios, Account Type: All Accounts, Date: select a year, Format: CSV.
- Select Generate. You may need to download multiple CSV files to cover your transaction history for each calendar year.
- Now change the Report type to Fills and select Generate again.
- You will receive an email with the link, Download Your Report. Click this to download your CSV file.
On Koinly:
- Create a free account on Koinly
- Complete onboarding until you get to the Wallets page and find Coinbase Pro in the list
- Click on it and select "File import" in the import options screen
- Upload the files you downloaded from Coinbase Pro (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!
Remember to export both the Accounts file as well as the Fills file. You will need both of these files in order to import your full transaction history
- Head over to our help center
- Hit up our discussion boards - we might have already answered your question
- Ask us on social media - we're on Twitter and Reddit
- Contact us on email or live chat
- Got a feature request? Give us feedback on Canny
How are Coinbase Pro transactions taxed?
The tax you pay on crypto depends on your transactions and where you live. You can learn more about crypto tax in your country in our crypto tax guides, but in general, you’ll pay either Capital Gains Tax or Income Tax on your crypto (or both!).
Capital Gains Tax: If sold or swapped crypto on Coinbase Pro and made a gain, you’ll likely pay Capital Gains Tax on that gain.
Income Tax: If you earned new tokens on Coinbase Pro, this is generally viewed as additional income and subject to Income Tax upon receipt.
Does Coinbase Pro report to the IRS?
Yes. Coinbase Pro reported to the IRS. Coinbase Pro issued users with more than $600 in income a 1099-MISC to you. Remember - when you get a 1099 form, so does the IRS.
Coinbase also lost a John Doe summons case to the IRS in 2016. This meant the exchange was legally compelled to share KYC data for some customers with the IRS. Though Coinbase Pro was formerly GDAX - the exchange is an owned property of Coinbase and is subject to the same reporting requirements.
How do I file my Coinbase Pro taxes?
You’ll need to report any capital gains, losses, or income from your Coinbase Pro investments to your tax office, generally as part of your annual tax return.
You can do this yourself - but it’s time-consuming. You need to identify each taxable transaction on Coinbase Pro, figure out the kind of tax that applies, and calculate any gain, loss, or income.
Alternatively, use Koinly to do this for you. Koinly calculates your tax liability and generates your crypto tax report, ready to file with your tax office.
Your frequently asked questions
Does Coinbase Pro have tax documents?
How do I get Coinbase Pro tax documents?
The easiest way to get Coinbase Pro tax documents is to connect with crypto tax software - like Koinly - and generate tax forms.
Do you get a 1099 from Coinbase Pro?
When will I get a Coinbase Pro 1099 form?
Does Coinbase Pro provide financial or end of year statements?
Do I have to pay taxes on Coinbase Pro?
Does Coinbase Pro report to tax authorities?
Is Coinbase Pro safe?
Is transferring to Coinbase Pro taxable?
Does Coinbase tax include Coinbase Pro?
How do I avoid paying tax on Coinbase?
You can’t - or you shouldn’t! Tax offices don’t look kindly on crypto tax evasion and it’s a criminal offense. You can learn more in our crypto tax evasion guide, or check out how to legally avoid crypto tax.
