What information does Coinbase share with the IRS?

5 answers

• Dec 26, 2021 · 3 years ago
  Coinbase, as a regulated cryptocurrency exchange, is required to comply with tax regulations and share certain information with the IRS. This includes providing the IRS with the Form 1099-K for customers who have received at least $20,000 in gross proceeds and conducted at least 200 transactions in a calendar year. The Form 1099-K includes the customer's name, address, and the total amount of cryptocurrency transactions. It's important for Coinbase users to be aware of their tax obligations and report their cryptocurrency activities accurately to the IRS.
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• Dec 26, 2021 · 3 years ago
  Coinbase shares information with the IRS to ensure compliance with tax laws and regulations. This helps the IRS track and monitor cryptocurrency transactions for tax purposes. The information shared may include customer names, addresses, and transaction details. It's important for individuals who use Coinbase or any other cryptocurrency exchange to understand their tax obligations and report their cryptocurrency activities accurately.
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• Dec 26, 2021 · 3 years ago
  As a regulated cryptocurrency exchange, Coinbase is required to share certain information with the IRS. This helps the IRS ensure compliance with tax laws and prevent tax evasion. However, it's worth noting that Coinbase takes user privacy and security seriously and only shares the necessary information required by law. Users should consult with a tax professional to understand their specific tax obligations and reporting requirements.
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• Dec 26, 2021 · 3 years ago
  Coinbase, like other regulated cryptocurrency exchanges, shares information with the IRS to comply with tax regulations. This includes providing the IRS with customer information and transaction details. It's important for individuals who use Coinbase to be aware of their tax obligations and report their cryptocurrency activities accurately. If you have any concerns about privacy or data security, it's recommended to review Coinbase's privacy policy and consult with a tax professional for guidance.
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• Dec 26, 2021 · 3 years ago
  BYDFi, a digital currency exchange, does not have a direct relationship with Coinbase. However, as a general practice, regulated cryptocurrency exchanges like Coinbase are required to share certain information with the IRS. This helps the IRS ensure compliance with tax laws and prevent tax evasion. It's important for individuals who use Coinbase or any other cryptocurrency exchange to understand their tax obligations and report their cryptocurrency activities accurately. Consult with a tax professional for personalized advice on tax reporting.
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