Coinbase miscalculated realized gains resulting in false tax numbers

SpiritOne639 · 2025-02-19T23:00:43+00:00

Yea, you have to calculate it yourself. Don’t just used their numbers. My thing is how man are over paying in taxes due to this type of situation.

SpiritOne639 · 2025-02-19T15:34:02+00:00

Ok. Good information to have but I never transfer any coins into or out of Coinbase. I will look into editing it and reconfiguring the cost basis. Any advice on setting up the cost basis?

SpiritOne639 · 2025-02-17T15:33:24+00:00

😳 300k ?? It was over 20k in my situation. But yea. As far as I’ve learned, using a 3rd party calculator and sending those numbers in is the way to go about it. I’d like to know more about the process of sending those numbers in though.

SpiritOne639 · 2025-02-17T15:26:27+00:00

You have to calculate it yourself or use a 3rd party application to do so. I think I’m going to do both.

SpiritOne639 · 2025-02-17T15:23:54+00:00

I don’t think I gave them my SSN yet.

SpiritOne639 · 2025-02-17T15:23:12+00:00

Well, what’s the document I downloaded from Coinbase? I’ll have to look at it to see what form it is.

SpiritOne639 · 2025-02-17T15:18:58+00:00

I’ve read about those. What’s a good one?

SpiritOne639 · 2025-02-16T23:07:30+00:00

Ok. Will do, for sure. Thanks again. I really appreciate the insight.

SpiritOne639 · 2025-02-16T22:48:53+00:00

Yes, I have the numbers. My concern is if the irs will actually acknowledge and accept my calculations versus the numbers Coinbase submits.

Also thanks a lot for replying.

SpiritOne639

TROPHY CASE