{"id":18560,"date":"2022-02-21T11:21:25","date_gmt":"2022-02-21T10:21:25","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=18560"},"modified":"2023-07-08T08:41:36","modified_gmt":"2023-07-08T12:41:36","slug":"coinbase-procures-new-tax-support-features","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/coinbase-procures-new-tax-support-features\/","title":{"rendered":"Coinbase procures new tax support features as IRS increases crypto scrutiny"},"content":{"rendered":"\n
Crypto exchange giants, Coinbase, have partnered with CoinTracker<\/a> to provide detailed accounting of capital gains and losses. <\/h5>\n\n\n\n

As Bitcoin and a host of other cryptocurrencies continue to plummet Monday, Coinbase<\/a> rolled out a number of new features aimed at providing customers with tax support. <\/p>\n\n\n\n

The Coinbase Tax Center will allow US users to view all of their taxable cryptocurrency-related activities in one place on the platform. <\/p>\n\n\n\n

The company will also send 1099 MISC forms to users who made at least $600 in 2021 through rewards, interest, forks, and airdrops.<\/p>\n\n\n\n

\"Coinbase
Coinbase partners with Cryptocurrency tax company, CoinTracker amid rising scrutiny from the government.<\/figcaption><\/figure>\n\n\n\n

As part of its new tax support release, The crypto exchange company previously partnered with CoinTracker, a cryptocurrency tax software provider. <\/p>\n\n\n\n

When sending and receiving from Coinbase Pro or external cryptocurrency wallets, it's users can receive a CoinTracker report of up to 3,000 transactions. <\/p>\n\n\n\n

The exchange tycoons are also offering customers a $20 rebate on Intuit's TurboTax tax filing \r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>software<\/use><\/svg><\/span><\/a>.<\/p>\n\n\n\n

People who bought and held cryptocurrencies on their exchange or elsewhere in 2021 will not have to declare anything when they return this year. <\/p>\n\n\n\n

However, the IRS, which would take a closer look at cryptocurrency trading, requires that capital gains or losses incurred when selling or trading an asset be reported. <\/p>\n\n\n\n

Learn more about determining if you owe taxes on your cryptocurrency transactions<\/use><\/svg><\/span><\/a><\/em><\/strong>.<\/p>\n\n\n\n

The company's customers can view all of their taxable activity to see if they owe taxes and how much they owe. <\/p>\n\n\n\n

Coinbase provides a summary of your activity, including assets you've bought, sold, shipped, or received, categorized by date, realized gain\/loss, and their tax implications.<\/p>\n","protected":false},"excerpt":{"rendered":"

Crypto exchange giants, Coinbase, have partnered with CoinTracker to provide detailed accounting of capital gains and losses. As Bitcoin and a host of other cryptocurrencies continue to plummet Monday, Coinbase rolled out a number of new features aimed at providing customers with tax support. The Coinbase Tax Center will allow US users to view all […]<\/p>\n","protected":false},"author":34,"featured_media":18571,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[132,7431,4380],"class_list":["post-18560","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto","tag-money","tag-taxes"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/02\/Screenshot_20220221-110037.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/18560","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=18560"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/18560\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/18571"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=18560"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=18560"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=18560"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}