Seriously, newbs: Coinbase gain/loss reports are not accurate for taxes if you transferred your coins into Coinbase Pro. Pro really does mean you'd better be ready to go pro (including in your handling of the taxes).

Pro traders already know this and are trading enough volume to justify the cost of third party tax calculation services, but it's easy for a casual to think it would be fun to move their meager amount of coins into Coinbase Pro, do a few dozen transactions of partial amounts over the year, and then find themselves having to do tax preparation by either paying a service (which, for a casual, can cost more than the net gains from trading) or calculating manually (which can be multiple entries per transaction since a transaction of partial coins will likely involve multiple different cost bases). If you're not truly going pro, don't try to fool yourself into thinking the "pro" platform would be better.Source: butthole hurts from trying to do taxes

Submitted March 27, 2020 at 12:16PM