Coinbase treats all transfers to your account as (1099) Payments : BitcoinMarkets

[TheDashGuy]

https://www.reddit.com/r/Bitcoin/comments/43s81g/coinbase_treats_all_transfers_to_your_account_as/

edit: https://www.reddit.com/r/BitcoinMar...base_treats_all_transfers_to_your_account_as/

Keep an eye on this thread. This is going to be a big deal if this is true.

Goodnight everyone.

 

[TaoOfSatoshi]

Holy sh*t.

 

[TheDashGuy]

Holy sh*t.

Yea....I'm watching this as I used coinbase heavily for a while....

And some of my friends literally used coinbase as their betting wallets..... LOL

 

[Miner237]

Yea
some of my friends literally used coinbase as their betting wallets..... LOL

Is this just for business accounts?

coinbase site says transfers to your wallet are not consider a sale. It's the sale to USD that they want to track.

https://support.coinbase.com/customer/portal/articles/1496488-how-do-i-report-taxes-

 

[lynx]

One of this days regulation is bound to kill the exchanges. It's a good thing they are just a convenience.

 

[TheDashGuy]

Is this just for business accounts?

coinbase site says transfers to your wallet are not consider a sale. It's the sale to USD that they want to track.

https://support.coinbase.com/customer/portal/articles/1496488-how-do-i-report-taxes-

Correct. Still want people to be aware of this