Don't forget!
It is possible to reduce your taxes by declaring your losses. Take advantage of the bear market!
How to do your Coinbase Pro taxes in 2022
| Transaction type | File Import |
|---|---|
| Withdrawals | |
| Deposits | |
| Trades | |
| Trading Fees |
COINBASE PRO HAS BEEN MIGRATED TO COINBASE. PLEASE SEE OUR COINBASE GUIDE FOR INFORMATION RELATED TO COINBASE.
Introduction to Coinbase Pro
Coinbase Pro is owned by Coinbase, one of the biggest cryptocurrency exchanges in the world. Coinbase was launched in 2012 by Brian Armstrong, while Coinbase Pro was launched in 2015 as a more advanced version of Coinbase. It was initially called GDAX(Global Digital Asset Exchange), but that was changed to Coinbase Pro in 2018. It is used by more experienced traders who have a higher trading volume. Coinbase Pro has over 130 assets available for trading as of the time of writing.
Coinbase Pro is more appropriate for experienced crypto users. It has a steeper learning curve than Coinbase, but the fees are lower, especially if you are trading larger volumes. Similar to Coinbase, fees are calculated on a taker and maker basis. More on this can be found in the article “What are the fees on Coinbase Pro?” On top of this, both Coinbase and Coinbase Pro are highly secure, so that users can have greater peace of mind regarding their assets. If you have been trading on Coinbase, then please see our Coinbase tax guide.
Do I need to pay taxes when using Coinbase Pro?
Depending on the country you pay taxes in and the type of transactions you have made, you may need to pay taxes on your Coinbase Pro crypto transactions. If you are unsure, you can try Divly's Crypto Tax Widget, which can give you a better indication based on your country's tax rules.
For more information regarding your country-specific crypto tax guidelines, please see Divly's crypto tax guides. These guides are regularly updated with input from our knowledgeable staff and local experts.
How to export your Coinbase Pro transaction history
Coinbase Pro allows you to export transaction history via their API or by downloading a CSV file. If you are using Divly to calculate your taxes, you will need to submit a CSV file to import your Coinbase Pro transactions.
File import
You can import transactions from Coinbase Pro into Divly by downloading and importing a CSV file. Make sure to download the CSV file whenever you want to include the latest transactions.
Important
You can download two types of files from Coinbase Pro, but Divly only supports one. Make sure to follow the steps below and download the Account file (not the Fills file that only contains trades).
Step-by-step guide:
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Sign in to Coinbase Pro.
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In the navigation bar at the top right click on the account icon and select Statements from the dropdown.
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To the right click on the button called Generate and select Account.
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Select All Accounts, the correct date range, and make sure the Format is set to CSV. Then click Generate Report.
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The latest statement will be shown in the statements list on the same page. Click the Download button for the CSV to download.
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Drag and drop the CSV file to where it says Upload CSV. Divly will import the transactions.
Common issues
Here are the most common issues we see when people calculate their Coinbase Pro crypto taxes:
- Forget to select "Account" when downloading the CSV file. The "Fills" file does not include withdrawals or deposits, hence why Divly does not support it.
If you have any issues with calculating your Coinbase Pro taxes, feel free to contact our support team, which is available via the online chat on the bottom right-hand corner of our website. Good luck!
Any tax-related information provided by us is not tax advice, financial advice, accounting advice, or legal advice and cannot be used by you or any other party for the purpose of avoiding tax penalties. You should seek the advice of a tax professional regarding your particular circumstances. We make no claims, promises, or warranties about the accuracy of the information provided herein. Everything included herein is our opinion and not a statement of fact. This article may contain affiliate links.