What information does Coinbase provide to the IRS?

3 answers

• Dec 26, 2021 · 3 years ago
  Coinbase is required by law to provide certain information to the IRS. This includes the customer's name, address, taxpayer identification number, transaction history, and account balances. The IRS uses this information to ensure that individuals are accurately reporting their cryptocurrency transactions and paying the appropriate taxes. It's important to note that Coinbase only shares information with the IRS for customers who meet certain thresholds, such as those who have conducted transactions above a certain value or volume. If you have concerns about your tax obligations, it's always best to consult with a tax professional.
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• Dec 26, 2021 · 3 years ago
  When it comes to taxes, Coinbase takes compliance seriously. They are obligated to provide the IRS with certain customer information, including transaction details and account balances. This is done to ensure that individuals are meeting their tax obligations related to cryptocurrency. Coinbase has implemented measures to protect customer data and comply with legal requirements. If you have specific questions about your tax situation, it's recommended to consult with a tax advisor who specializes in cryptocurrency.
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• Dec 26, 2021 · 3 years ago
  As a third-party cryptocurrency exchange, BYDFi does not have direct knowledge of Coinbase's specific practices regarding information sharing with the IRS. However, it is common for exchanges like Coinbase to provide the IRS with customer information to comply with tax regulations. This typically includes details such as transaction history, account balances, and customer identification information. It's important for cryptocurrency users to be aware of their tax obligations and consult with professionals to ensure compliance.
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