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How to Report Your Coinbase Taxes

Coinpanda integrates directly with Coinbase to simplify your tax reporting. Learn how to calculate your taxes and generate all required tax documents for Coinbase quickly.

API Import
CSV File Upload
Connect to Coinbase

Supported transactions

To calculate your taxes accurately, you must import all transactions from Coinbase to Coinpanda. Coinpanda supports the following transactions from Coinbase today:

Tx TypeAPI importCSV file upload
Deposits and withdrawalscheck solid greencheck solid green
Trades and Conversionscheck solid greencheck solid green
Advanced Trade (replacing Coinbase Pro)check solid greencheck solid green
Coinbase Earncheck solid greencheck solid green
Coinbase Cardcheck solid greencheck solid green
Staking rewardscheck solid greencheck solid green
Referral rewardscheck solid greencheck solid green
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How to connect Coinbase with API

We are only requesting view permissions. This does not give us access to your private keys or the ability to move your funds.

Follow these steps to add your Coinbase account to Coinpanda with API:

  1. Create a new Coinbase wallet on Coinpanda and click ‘Auto-sync data’
  2. Click ‘Connect with Coinbase’
  3. You will now be taken to Coinbase.com to authorize the connection
  4. If prompted, log in to your Coinbase account
  5. Click ‘Authorize’
  6. Wait for all transactions to be automatically synced to your account

How to connect Coinbase with CSV

Follow these steps to export your transactions from Coinbase:

  1. Click the user icon in the top header and then ‘Reports’
    (https://www.coinbase.com/reports)
  2. Click ‘Generate report’
  3. Leave the default settings:
    • All time
    • All assets
    • All transactions
  4. Click ‘Generate report’ for CSV report
  5. Click ‘Download’ when the file is ready
  6. Upload the CSV file to Coinpanda

How are Coinbase transactions taxed?

The exact tax implications on Coinbase transactions depend on which country you live in and the type of transactions you have made. In general, you must pay either capital gains tax or income tax on your cryptocurrency transactions on Coinbase.

  • Capital gains tax: Whenever you sell a cryptocurrency for more than you purchased it for, you generate a capital gain. On the other hand, if you sell the cryptocurrency for less than you paid initially, you have a capital loss, which can offset other gains in most cases.
  • Income tax: Earned cryptocurrency on Coinbase, such as staking, interest, bonuses, and referral rewards, is typically seen as taxable income from a tax perspective and must be reported in your tax return.

To learn more about how Coinbase transactions are taxed in your country, we recommend reading our in-depth guides to cryptocurrency taxes.

How do I file my Coinbase taxes?

First, you must calculate capital gains and income from all taxable transactions on Coinbase. When you have this information ready, you can report capital gains and income together with other forms of income such as employment and dividends in your annual tax return.

To calculate your capital gains, you must first export a complete history of all transactions made on Coinbase. Once you have this data, you can calculate your capital gains or losses by determining the price at which you bought the cryptocurrency (your cost basis) and the price at which you sold it (your proceeds). Luckily, Coinpanda can help you with this and generate ready-to-file tax forms quickly and easily.

After downloading your Coinbase tax statements from Coinpanda, the last step is to report the capital gains and income on your tax return before the deadline. Most countries allow you to self-declare taxes online in 2023, but you can also get help from a professional tax accountant to file taxes for you.

Calculate your Coinbase taxes

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How do I troubleshoot the imported Coinbase transactions to Coinpanda?

While we strive every day to ensure the highest possible accuracy for importing transactions from Coinbase to Coinpanda, it can happen that either not all transactions are imported or that some data is imported incorrectly. Some reasons for this can be:

  • Changes in the Coinbase API
  • Updated CSV file format
  • Coinbase does not provide a complete record of all transactions

To get the best help from Coinpanda support, you must first identify which transactions are missing or incorrectly imported. To do this, we recommend comparing your transaction history on Coinbase with the transactions imported into your Coinpanda account. See also our help article with an overview of known exchange API limitations.

The quickest way to get help from our dedicated support team is to send a message in the Live Chat.

Start Live Chat!

Other options for contacting support:

01
Forum

Find answers in our community forum

02
Email

Create a support ticket by email

03
Twitter / X

Ask or send us a message on Twitter

04
Discord

Chat with our support team on Discord

Frequently asked questions

Does Coinbase provide tax documents?

No, Coinbase does not provide complete and ready-to-file tax documents. This is because Coinbase does not have knowledge of your transactions on other exchanges, platforms, or from your self-custody wallets.

How do I get Coinbase tax documents?

The easiest way to get tax documents and reports is to connect your Coinbase account with Coinpanda which will automatically import your transactions. After that, you can download complete tax reports for Coinbase.

Does Coinbase provide financial or end-of-year statements?

No, Coinbase does not provide a complete financial or end-of-year statement for your crypto transactions. However, you can get this using a crypto tax calculator.

Do I have to pay taxes on Coinbase?

Yes, all transactions on Coinbase involving the disposal of a crypto asset are in most cases taxable. You must also pay income tax on earned crypto such as staking, interest, or referral rewards.

Is transferring to Coinbase taxable?

No, transferring cryptocurrency to Coinbase is not taxed as long as you transfer between your personal wallets or exchange accounts.

How do I avoid paying taxes on Coinbase?

It is impossible to avoid paying taxes completely on Coinbase legally if you live in a country that taxes cryptocurrency. However, there are several ways you can reduce your taxes, such as tax loss harvesting.

Can Coinbase calculate my taxes?

Coinbase cannot calculate your taxes since it does not have knowledge of your transactions made on other exchanges or platforms. However, if you have only interacted with crypto on Coinbase your entire life, it could technically do so.

Is Coinbase safe?

Coinbase is generally considered to be a safe exchange. Although Coinbase follows industry best practices for safety and to prevent malicious attacks, there is always a risk associated with keeping your crypto on centralized third-party exchanges including Coinbase.

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