How to calculate your Coinbase Pro taxes

  • Exchange CSV
  • Recap CSV
1 min read
Last updated:
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Sam Adams
Samantha Adams
Head of Content

Recap has a comprehensive integration with Coinbase Pro that makes it easy to manage your crypto tax calculations. Sign up for Recap and add your Coinbase Pro account to securely monitor each transaction, manage your cryptocurrency portfolio, and effortlessly automate your taxes.

*Disclaimer: The information provided in this content does not endorse Coinbase Pro. Furthermore, it does not constitute tax advice. If you are uncertain about any financial or tax-related matters, we strongly recommend seeking guidance from a qualified tax professional. Additionally, you may utilise our accountant and professional advisor sharing features.

What is Coinbase Pro?

Coinbase Pro is US-based crypto exchange that allows users to trade Bitcoin, Ethereum and other crypto assets for USD, EUR, and GBP.

Here's a breakdown of what Coinbase Pro offers:

Advanced Trading Tools: Provides a comprehensive suite of tools, including real-time order books, charting capabilities, and trade history.

Lower Fees: Features a tiered fee structure with lower fees for higher trading volumes.

Secure Storage: Offers secure storage for crypto holdings, incorporating two-factor authentication and cold storage.

Like Coinbase, Coinbase Pro is committed to compliance and aims to provide a secure and reliable platform for cryptocurrency trading.

How to simplify your Coinbase Pro crypto taxes with Recap

You can make the process of calculating your taxes stress-free with our crypto tax software. Upload your Coinbase Pro data to Recap, and our system will classify and value all transactions using our unique fair-market valuation engine and determine your tax liability.

coinbase-proSync Coinbase Pro CSV

How are Coinbase Pro Transactions Taxed?

Tax implications on your Coinbase Pro transactions differ based on transaction types and your tax jurisdiction. Here are the tax guidelines for the different transaction types on Coinbase Pro:

Transaction typeCGTIncomeTracked in Recap
Deposits
Withdrawals
Buying crypto with fiat
Crypto to crypto
Selling crypto for fiat
Earning staking rewards

Refer to our tax guides for a more detailed look at crypto tax rules.

Help Guides

Adding your Coinbase Pro account using a CSV file

A step-by-step guide for connecting your Coinbase Pro account to Recap.

Open guide
Connecting your Coinbase account through the API

A step-by-step guide for connecting your Coinbase account to Recap.

Open guide
Adding your Coinbase account using a CSV file

A step-by-step guide for adding your Coinbase CSV account to Recap.

Open guide

Automate your Coinbase Pro tax reporting - takes 5 mins.

  • 1

    Sign up to Recap

  • 2

    Set up auto sync with our step by step guide

  • 3

    Generate your tax report ready to self-file or share with your accountant

coinbase-proSync Coinbase Pro CSV

FAQs

Do I need to pay tax on my Coinbase Pro transactions?

Yes, you may need to pay tax on your Coinbase Pro transactions. Tax obligations vary depending on your country’s tax laws and the nature of your transactions. Common taxable events include selling cryptocurrency, trading between coins (crypto to crypto), and making purchases with crypto.

Do the tax authorities know about my Coinbase Pro transactions?

Tax authorities may become aware of your Coinbase Pro transactions through various means, such as data-sharing agreements between crypto exchanges and tax authorities or during tax audits. It's essential to report your crypto transactions to avoid penalties accurately. Using a crypto tax software like Recap can help ensure your transactions are properly recorded and reported.

What is the benefit of using a crypto tax calculator?

A crypto tax calculator automates the process of calculating taxes on your cryptocurrency transactions, providing accurate tax liability figures and ensuring compliance with tax regulations without manual calculations.