For the 2020 US tax season, Coinbase will only issue the IRS Form 1099-MISC for eligible Coinbase.com, Coinbase Pro, and Coinbase Prime customers.
Non-US customers will not receive any forms from Coinbase and must utilize their transaction history to fulfill their local tax obligation.
To be eligible for a 1099-MISC, you must:
- Be a Coinbase customer
- Have received $600 or more in cryptocurrency from Coinbase Earn, USDC Rewards, and/or Staking in 2020
- Be subject to US taxes
Does Coinbase provide 1099-Ks?
As of the 2020 tax year, we will not be issuing a Form 1099-K for trades on the Coinbase exchange.
Does Coinbase provide 1099-Bs?
We do not issue Form 1099-Bs.
I didn’t receive any forms from Coinbase. Do I still need to report trades on my taxes?
If you have sold or converted crypto in the year 2020 and are eligible for US taxes, you should report your gains/losses to the IRS. Please consult a tax advisor for your own specific tax obligations.
If you would like to learn more about how US taxes and crypto work, please visit http://coinbase.com/bitcoin-taxes.
Where can I download my transaction history?
What if I'm an international customer?
At this time, we do not provide tax forms for international customers. Please utilize your transaction history.
What is a B-Notice and why did I receive one from the IRS?
You may receive an IRS B-Notice for any discrepancies with your tax identification number (TIN) and legal name used by Coinbase to file the Form 1099 with the IRS. The B-Notice will:
Let you know what additional information is needed or what needs to be corrected
Inform you what needs to be provided in addition to updating or correcting your name or TIN
To correct your TIN and/or name, please contact Coinbase Support. For more information about the IRS B-Notice, please go here.
Are my crypto donations tax deductible?
Charitable contributions of cryptocurrency may be tax deductible. Please consult your tax-planning professional regarding your personal tax circumstances.
Where can I donate cryptocurrency?
GiveCrypto is a nonprofit that distributes cryptocurrency to people living in poverty by connecting them to an open financial system.
Important Note: Coinbase does not provide tax advice. This material has been prepared for general informational purposes only and should not be considered an individualized recommendation or advice. The information contained herein is not intended to provide, and should not be relied on for tax advice. Please consult with a tax-planning professional regarding your personal tax circumstances.
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