Auto Sync with Coinbase Prime A Coinbase Prime account is rarely a single ledger. One institution can run several portfolios, each with its own custody movements, billing fees and trading activity. Reconciling that by hand means matching entries across portfolios before you can even start on the tax treatment.
Recap's Coinbase Prime connection reads each portfolio's custody activity, so your balances and transfers between accounts stay right, and it keeps every portfolio as its own account. Trading, conversion and staking activity is not part of that connection yet and comes in through Recap's CSV template. This page covers exactly what the connection reads, how to bring in the rest, and how Recap classifies each entry.
Disclaimer
The information provided in this content does not endorse Coinbase Prime. Furthermore, it does not constitute tax advice. If anything financial or tax-related is unclear, speak to a qualified tax professional. You can also share your Recap account with your accountant or tax adviser directly.
Why Coinbase Prime tax is difficult to work out by hand
Coinbase Prime is built for institutions, funds and trading desks, not individual retail accounts. An organisation can run several portfolios side by side, each its own custody account and trading book. Every portfolio produces its own deposits, withdrawals and custody fees, and the trading book adds disposals on top. Working out which entries belong to which portfolio, and which ones are taxable, is slow once you have more than one.
A billing withdrawal for custody fees looks like any other withdrawal in a raw export, but it is a cost paid in crypto, which is a disposal in its own right. Sweep transfers between custody and trading balances look like withdrawals too, but they never leave your ownership. Telling the three apart by hand is where most of the reconciliation time goes.
How to get your Coinbase Prime history into Recap
Coinbase Prime connects to Recap through a read-only API for custody activity, with the CSV template covering the rest.
API connection and portfolios
Create a read-only API key in Coinbase Prime, made up of an access key, a passphrase and a signing key, and enter them in Recap. You then pick which portfolio to sync. Add another Recap account for each additional portfolio, since one portfolio can only be connected once.
The connection imports deposits, withdrawals, sweep transfers and billing withdrawals for that portfolio. It does not import orders, conversions or staking activity at the moment. Any other transaction type the Coinbase Prime API returns is shown as an unhandled item in your transaction list rather than silently dropped, so you can see what still needs adding.
Recap CSV for trades and staking
Bring your Coinbase Prime trades, conversions and any staking or delegation rewards in using Recap's CSV template. Export the activity from Coinbase Prime, map it to the template, and upload it against the same portfolio's account. Make sure the file covers the full history for every portfolio you add, not just the latest year, so your cost basis is complete.
How are Coinbase Prime transactions taxed?
Recap classifies each entry by default and applies the rules for your jurisdiction in your report. Where your circumstances differ, you can recategorise any transaction.
Custody deposits, withdrawals and sweeps
Moving assets into custody, out to an address you own, or between a portfolio's custody and trading balances does not change beneficial ownership. Recap does not treat these movements as disposals by default, and matches each leg against the other account where you have added it.
Billing withdrawals for custody and service fees
Coinbase Prime takes custody and service fees as billing withdrawals. Recap records each one as a fee. Paying it in crypto is a disposal of that crypto at its market value on the day.
Trades, conversions and staking added by CSV
Once added through the CSV template, selling crypto for fiat or converting one asset for another is a disposal of what you give up and an acquisition of what you receive, even when both sides are crypto. A staking or delegation reward is income at the value you receive it, and that same value enters the pool for when you later dispose of the tokens.
| Transaction type | CGT disposal | CGT acquisition | Income |
|---|---|---|---|
| Custody deposits into a portfolio | CGT disposal: no. A deposit itself is not a disposal. Where the deposit matches a withdrawal from another of your accounts, Recap pairs the two as an internal transfer. | CGT acquisition: no | Income: no |
| Custody withdrawals and sweep transfers | CGT disposal: no. A withdrawal itself is not a disposal. Matched against the receiving account where you have added it, so it is not mistaken for a sale. | CGT acquisition: no | Income: no |
| Billing withdrawals (custody and service fees) | CGT disposal: yes. Recap records a billing withdrawal as a fee. Paying it in crypto is a disposal of that crypto at market value. | CGT acquisition: no | Income: no |
| Transfers between your own portfolios | CGT disposal: no. Not a disposal when both portfolios are yours. Add each portfolio as its own Recap account so the two legs can be matched. | CGT acquisition: no | Income: no |
| Trades, conversions and staking activity | CGT disposal: yes. Not imported by the API connection today. Any Coinbase Prime transaction type other than a deposit, withdrawal, sweep or billing withdrawal appears as an unhandled item for you to review. | CGT acquisition: yes. Not imported by the API connection today. Add these through Recap's CSV template; a trade is then a disposal of what you give up and an acquisition of what you receive. | Income: no. Staking and delegation rewards are not imported by the API connection. Added through the CSV template, a reward is income at the value received and also enters the pool at that value. |
This table shows how Recap classifies each transaction type by default. Some treatments — such as the acquisition cost used for airdrops — are configurable in Recap. This is general information, not tax advice; consult a qualified tax professional about your circumstances.
This table shows Recap's default classification for common Coinbase Prime transactions. It is not an exhaustive schedule or a ruling. Treatment depends on your circumstances and jurisdiction, and you can recategorise any transaction where yours differ. Confirm your position with a qualified tax adviser.
Refer to our UK and US tax guides for a closer look at how disposals and income are treated.
What we handle that the raw Coinbase Prime export does not
A raw Coinbase Prime export mixes deposits, withdrawals, sweeps and billing fees into one list. It does not separate a billing fee from an ordinary transfer, or say which entries belong to which portfolio if you manage several.
Recap reads deposits, sweep transfers and billing withdrawals as what they are, keeps each portfolio's history as its own account rather than one merged pile, and only counts a transfer once Coinbase Prime has finished processing it, so pending or delayed transfers do not show up early.
Where the API returns a transaction type Recap does not handle yet, it appears as an unhandled item you can see and act on, rather than a guess at its tax treatment.
What's in your Coinbase Prime tax report
Recap turns your Coinbase Prime custody history and any CSV-imported trading into a single tax report. Capital gains, losses and income are worked out under the rules for your jurisdiction, ready to review before you file.
Your report includes capital gains and losses on every disposal, including fees paid in crypto, using the cost basis rules for your jurisdiction. It also includes any staking or delegation rewards you have added, valued at the time you received them. A transaction log lets you check every entry before you file, and there is a downloadable summary to submit with your return or share with your accountant.
Multiple portfolios in one position
You can add every Coinbase Prime portfolio your organisation runs under one Recap account, and each one imports independently. Sharing tools let your accountant or tax adviser view the same numbers you do, across every portfolio you have connected.
Connect your Coinbase Prime portfolios, add your trading history by CSV, and Recap calculates your gains, losses and income in one filing-ready report.
