Only transactions that took place on Coinbase Pro, Prime, and Merchant are subject to reporting requirements. To receive one:
Arkansas (AR) - $2,500
District of Columbia (DC) - $600
Massachusetts (MA) - $600
Mississippi (MS) - $600
Missouri (MO) - $1,200
New Jersey (NJ) - $1,000
Vermont (VT) - $600
All other states - $20k
If Coinbase is required to send you a 1099-K, you will receive an email from Coinbase with a link to access your 1099-K. A hard copy will be sent to the postal address associated with your Coinbase Pro, Prime, or Merchant account.
Additionally, you can select your name for a dropdown with the option to select Statements in your Coinbase account to access transaction history and a copy of the 1099-K to download.
The 1099-K shows all of the transactions that passed through your account in a given calendar year. What you can do next:
1. Understand your trading activity by looking at your transaction history
2. Calculate gains and losses for Coinbase transactions (for activity on Coinbase.com only; excludes Coinbase Pro or Prime activity)
3. Consult a Tax Expert, Prepare Forms
Important Note: Coinbase does not provide tax advice. This material has been prepared for general informational purposes only and should not be considered an individualized recommendation or advice. The information contained herein is not intended to provide, and should not be relied on for, tax advice. Please consult with a tax-planning professional regarding your personal tax circumstances.