Coinbase Releases Cryptocurrency Tax Calculator

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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. In a blog post published, the firm explained that the calculator can be used to generate a report which outlines their capital gains (or losses) on its platform, using a first-in-first-out (FIFO) accounting method. “This tool provides a preliminary gain/loss calculation to assist our customers but should not be used as official tax documentation without validating the results with your tax professional”.

More can be read over at https://www.coindesk.com/coinbase-eases-crypto-tax-procedure-with-gainloss-calculator/

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