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What if I don't get a 1099 form from Coinbase?

Taxpayers must report all crypto income, even if they do not receive a 1099 form. If you receive a 1099-MISC from Coinbase, the IRS should also have received it. Failure to report crypto income or transactions can lead to penalties. Using a crypto tax calculator like ours at TokenTax will help ensure accurate reporting.

What does a coinbase 1099 mean?

A Coinbase 1099 signals to the IRS that a user is actively trading crypto and may have transactions other than rewards or staking to report. The platform does have a gain/loss report but does not report your gains or losses to the IRS. Looking to calculate your crypto profit? Try our free crypto profit calculator.

Does Coinbase report wallet quest rewards on Form 1099-MISC?

Coinbase reports some Coinbase Wallet income, such as Wallet Quest rewards, on Form 1099-MISC for customers receiving Form 1099-MISC. This number is not shown in “Estimated income” in the Tax Center. Related article (s):

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