Received #1099k from #coinbase Pro? Here’s how to deal with it.
▻https://hackernoon.com/how-to-deal-with-form-1099k-from-coinbase-or-coinbase-pro-for-tax-purpos
Exchanges like Coinbase provide transaction history to every customer, but only customers meeting certain mandated thresholds will also receive an IRS Form 1099-K. But what can we do with it and how to use it in filing taxes?IntroductionYou would have received a 1099-K from Coinbase Pro. All it really says is how much money you had IN from everywhere. It doesn’t display any info on how much you made/lost with each trade.So, what can do you do with this 1099-K?Coinbase’s 1099K form is a kind of consolidated information describing the volume of your trades (Exchanges like Coinbase provide transaction history to every customer, but only customers meeting certain mandated thresholds will also receive an IRS Form 1099-K.).Even though you could have just traded with $10K — it will have all the (...)