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How to report cryptocurrency on taxes coinbase

How to report cryptocurrency on taxes coinbase

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The fair market value at write about and where and our partners who compensate us. How much do you have to earn in Bitcoin before. You may need special crypto tax software to bridge that.

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CRYPTO TAX LAWYER Explains: How to LEGALLY Avoid Crypto Taxes
Sign in to your Coinbase account. Select avatar and choose Taxes. Select Documents. Select Custom reports and choose the type of report you want to generate. If you earned more than $ in crypto, we're required to report your transactions to the IRS as �miscellaneous income,� using Form MISC � and so are you. Coinbase reports to the IRS can include forms MISC for US traders earning over $ from crypto rewards or staking in a given tax year.

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Some of these transactions trigger capital gains tax , while others trigger income taxes. Sign Up Log in. If you use additional cryptocurrency wallets, exchanges, DeFi protocols, or other platforms outside of Coinbase, Coinbase can't provide complete gains, losses, and income tax information.