Preparing your tax returns just got a bit easier.



This week we added one more report type to our growing list of reports: Cost Basis for Taxes.

You can now generate a summary of your bitcoin purchases and sales, showing your cost basis and capital gain/loss. We use a FIFO (first in first out) method for this report. Transactions sending into or out of your Coinbase wallet are treated as buys or sells at the current market price in this report. However, you should keep your own records for best results and update the report accordingly. For example, if you transfer bitcoin offset to a desktop wallet, and then back again, you would not count this as a sale of bitcoin.

Hopefully this report makes life a bit easier the next time you file your taxes. You can generate the report here.

This report is still in beta and should be used with caution. If you have any feedback on it please send us a note to reports-feedback@coinbase.com.

Disclaimer: This report does not constitute legal or tax advice. Tax laws and regulations change frequently, and their application can vary widely based on the specific facts and circumstances involved. You are responsible for consulting with your own professional tax advisors concerning specific tax circumstances for your business. Coinbase disclaims any responsibility for the accuracy or adequacy of any positions taken by you in your tax returns.