How to file your Coinbase taxes

More than 68 million people are using Coinbase to buy, sell, stake, and store their cryptocurrency assets. Whatever your crypto strategy on Coinbase, Koinly can help you do your Coinbase taxes safely, quickly, and accurately. 

  1. Sign up to Koinly and choose your country and currency

  2. Connect Coinbase with Koinly to import all your Coinbase trades safely and securely

  3. Koinly categorizes Coinbase transactions into gains, losses, and income

  4. Koinly calculates your Coinbase Capital Gains Tax and Coinbase Income Tax

  5. Download your Coinbase tax report from Koinly

  6. File your Coinbase taxes online or with your crypto tax accountant

How to do your Coinbase taxes fast

How do I file my Coinbase taxes?

If you’ve made any income or capital gains from Coinbase, you will need to notify your country’s tax office. Generally, it will be included as part of your annual tax return.

There are a couple of ways you can identify what needs to be included in your tax return. You can either calculate it manually by yourself or you can use a crypto tax calculator like Koinly.

If you choose to do it manually, you need to identify your taxable transactions, calculate your net capital gain or loss, and the fair market value of any crypto income.

On the other hand, if you use a crypto tax calculator your taxable income will be calculated for you, and your Coinbase tax report will automatically be generated, ready to file with your tax office.

Koinly works by importing your Coinbase transaction data to analyze what's taxable, and what's not. Let's look at an example - here are some transactions in a Coinbase account.

Transactions in Coinbase exampleYou can import your Coinbase transaction history via Koinly's API integration or by uploading CSV files of your Coinbase transaction history into Koinly. Once you've done this, you'll be able to see your Coinbase transactions in Koinly - like this.

Koinly Coinbase transactions exampleThis lets you manage all your crypto transactions - from Coinbase and any other exchanges you use - from one single platform, making crypto tax simple. Here's how to import your Coinbase transaction data.

Koinly lets you manage all your crypto transactions - from Coinbase and any other exchanges you use - from one single platform, making crypto tax simple.

How to connect Koinly and Coinbase using API

On Koinly

  1. Sign up or log in to Koinly and go to the wallets page

  2. Select add new wallet: Coinbase

  3. Select set up auto-sync

  4. The previous step will take you to the Coinbase website, sign in and authorize access for Koinly

Important

  1. Coinbase & Coinbase Pro are merging soon. If you've previously used Coinbase Pro, you'll still need to sync your Coinbase Pro account separately with Koinly in order to get your complete transaction history - see how here.

  2. The Coinbase API now supports the new 'advanced trade' transactions.

How to integrate Koinly and Coinbase using CSV

You'll need to start by downloading a CSV file with your full trading history from Coinbase before you can upload it to Koinly - here's how.

How to download and export your transaction history CSV file from Coinbase

  1. Sign in to your Coinbase account

  2. Head to your profile in the top right corner and select reports

  3. Select generate report

  4. Next to CSV report, select generate report

How to upload your Coinbase CSV to Koinly

Now you've got your Coinbase CSV file, here's how to upload it to Koinly.

  1. Sign up or login into Koinly and head to the wallets page

  2. Add a new wallet: Coinbase

  3. Select import from file

  4. Upload your Coinbase CSV file

Important

  1. If you've set up 2-factor authentication, your Coinbase account may ask you to verify after you've selected send request. In some instances, it may take a couple of days for your email and attached CSV file to come through, so don't panic if you don't see it straight away.

  2. Your Coinbase CSV file will not contain transactions to and from Coinbase Pro, so you'll need to import a separate CSV file with your Coinbase Pro transactions, if you ever used Coinbase Pro in the past.

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