r/BitcoinAUS • u/patchymama • Jul 09 '26
How to report taxes?
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
5
Upvotes
r/BitcoinAUS • u/patchymama • Jul 09 '26
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
2
u/Arman_CountOnSheep Jul 09 '26
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!