How to Generate Your Gain Loss Report in Coinbase
0Generating your gain/loss report in Coinbase is essential for tracking your crypto investment performance and preparing for tax season. Coinbase offers built-in tax tools that make it easy to review your capital gains and losses based on your transaction history, including trades, conversions, and withdrawals. These reports can be downloaded in various formats and used for personal records or shared with a tax professional.
To begin, open the Coinbase mobile app and log into your account. Once you're signed in, tap the three-line menu icon at the top left of the screen to open the main navigation. Scroll down and tap on the 'Taxes' option under the 'More' section.
Once inside the Taxes section, wait a few seconds for the page to fully load. This area is where Coinbase compiles your tax documents, including 1099 forms (if applicable) and gain/loss reports. Tap on the 'Documents' tab near the top of the screen to access your available reports.
In this section, look for a document labeled as your Gain/Loss Report or Capital Gains Report. If you’ve been actively trading, this document will be listed and available for download. You can usually choose between formats such as PDF and CSV depending on your needs. Select your preferred format and download the report directly to your device.
The report will include a summary of realized gains and losses, cost basis, date of acquisition and sale, and method used to calculate the gains—such as FIFO (First-In, First-Out), LIFO, or HIFO (Highest-In, First-Out). These details are important when calculating your tax liability or refund based on cryptocurrency transactions.
If your Coinbase account is inactive or hasn’t had sufficient trading activity, a gain/loss report may not be available. In that case, you can still access general tax documents or use Coinbase’s integration with tax partners like CoinTracker for a more detailed breakdown.
Timestamps:
0:00 Introduction
0:11 Opening Coinbase and accessing the menu
0:23 Navigating to the Taxes section
0:41 Opening the Documents tab
0:49 Locating and downloading gain/loss reports
1:06 Understanding report formats and cost basis methods
1:19 Conclusion
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