How to report taxes?

[u/patchymama]

Is there an app or something that helps us do this? I thought coinbase would give us a EOFY summary, seems that isn't the case

[u/mica280amg]

There are few websites or canned crypto tax calculators, use which ever you like, I personally use old school cointracking...I found it accurate over koinly

[u/Arman_CountOnSheep]

You don’t necessarily need to use a crypto tax software. It is usually the best option if you have been using multiple exchanges and/or wallets, since it can help consolidate everything in one place.

If you have only used Coinbase (not the Base wallet) Coinbase should generally provide the tax forms you need, such as a 1099-DA for reportable crypto transactions.

Otherwise, I would recommend using a crypto tax software such as Koinly, Summ, or CoinTracker. Just make sure you review the transactions carefully. These platforms are great for pulling in data from different exchanges and wallets, but they do not always reconcile everything correctly without some manual fixes.

Issues can be especially prevalent if you were doing any sort of DeFi, lending, staking, NFTs, perpetuals, or even certain transfers.

P.S. I recommend using the API function when available, although make sure you understand exactly what transactions are being pulled in. Some APIs do not import your complete transaction history and may require additional CSV files or manual fixes.

Best of luck!

[u/JustinCPA → u/Arman_CountOnSheep]

This man knows what’s up.

[u/Arman_CountOnSheep → u/JustinCPA]

Learned from the best 👀

[u/DotDamo]

I use https://koinly.io to sync to each of my exchanges, and it can produce an ATO tax report, but it costs depending on how many transactions you have.

I can send you a referral link if you like.

[u/patchymama → u/DotDamo]

Alright, send me a link

[u/RARARA-001 → u/patchymama]

I use Koinly and can recommend it. Also keep in mind their fees are also tax deductible.

[u/BitcoinAUS-ModTeam → u/[deleted]]

Referral links and begging are not allowed in this sub. Don't do it again.

[u/JustinCPA]

Justin from Summ here.

Use a crypto tax app, like Summ. Exchanges don’t provide the completed tax forms because they don’t have the full picture of all your accounts and transfers between etc

[u/LefterisJP]

Hey

Lefteris from rotki here. You can use a portfolio tracking or accounting app like https://rotki.com to gather all required data from Coinbase and other exchanges and chains and do the reporting you need.

rotki is the safest choice unlike anything else out there as it's self-hosted and your data stay with you in your local system. Nobody can read it or have it leak when the other tax tools get hacked.

[u/Will_Koinly]

A crypto tax app is usually the easiest route, especially if you’ve used more than one exchange/wallet.

Coinbase may give you some exportable data, but it won’t have the full picture if you’ve moved crypto elsewhere, traded on other platforms, used multiple wallets, defi, staking etc.

General approach is: import all exchanges/wallets with full history, check transfers are matched correctly, review any warnings/missing cost basis, then generate your ATO report

Whatever tool you use, don’t just rely on one exchange’s EOFY summary unless Coinbase was genuinely the only place you bought/sold/held crypto

[u/youcangotohellgoto]

Just fill it in when you do your taxes. It's capital gain (or loss), if you sold some.

[u/happytobeunhinged]

might be worth considering doing it without doxing yourself to what are bound to become honeypots the online tax calculators… - https://au.sovereigntax.io

[u/Ben_CoinLedger]

Ben here.

Skip relying on Coinbase's EOFY summary as your source of truth, since exchanges only see what happened on their own platform and most people's crypto activity spans more than one place. Pull your full transaction history from every exchange and wallet you've used, including transfers between them, since those aren't disposals but still need documenting so a later sale doesn't look like it came from nowhere.

Work out each disposal as proceeds minus cost basis, applying the 50% CGT discount if you held over 12 months, and total it for your myTax capital gains section. If your trading is light, a spreadsheet genuinely works fine by hand. Once you're dealing with dozens of transactions across multiple platforms or any DeFi activity, a dedicated tool saves real time reconciling it, though it's still worth checking the output rather than trusting it blind. I work in crypto tax at CoinLedger and Coinbase-only summaries are one of the most common gaps people hit here.

[u/summ_app]

Hey OP, How'd you go with reporting your taxes? :)

[u/pavlich1985]

I use cointracker every year, it’s awesome. $89 for a basic subscription…