Coinbase Releases Cryptocurrency Tax Calculator

Cryptocurrency startup Coinbase has launched a new gain/loss calculating tool as part of an effort to help its user base keep up with U.S. tax requirements. The calculator can be used to generate a report which outlines users’ capital gains (or losses) on Coinbase platform, using a first-in-first-out (FIFO) accounting method.

The tool is primarily aimed at users who have bought and sold on Coinbase exclusively – and isn’t recommended for those who have purchased digital assets elsewhere or participated in an ICO.

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