What are the documents needed to file taxes for Coinbase transactions?

1 answers

• Nov 28, 2021 · 3 years ago
  When it comes to filing taxes for your Coinbase transactions, it's important to have the necessary documents in order to comply with tax regulations. The key documents you'll need include your transaction history from Coinbase, which can be easily accessed and downloaded from your account settings. This history will provide a detailed record of all your transactions on the platform, including the date, time, and amount of each transaction. Additionally, you'll need to report any capital gains or losses from your cryptocurrency investments. To calculate these gains or losses, you'll need to determine the cost basis of your assets and subtract it from the fair market value at the time of sale. It's also advisable to keep track of any receipts or invoices related to your cryptocurrency activities, as these can serve as supporting documentation in case of an audit. By having these documents ready, you can ensure accurate reporting of your Coinbase transactions and meet your tax obligations.
  1001501