Coinbase recently released a tax calculation tool which is available both to its users and to people outside the platform.

The new section, which is called “Tax Center”, will reflect all the data necessary to make the corresponding declaration, showing in detail the activity of users subject to the payment of the respective taxation, plus both short and long-term gains and losses.

Through its official blog, the cryptocurrency exchange team spoke about the importance of this tool, which is in the ease of offering a more automated process, without the need to do a manual calculation.

“We’re simplifying the process by showing each customer a personalized summary of their taxable activity on Coinbase, breaking out profit-loss and miscellaneous income over time. Customers can use these amounts to prepare and file their tax returns with their accountants.” Or directly with specialized software such as TurboTax”, indicates part of the text.

This service can show the estimated profits and losses, considering the exchange between various cryptocurrencies, tokens sold and crypto assets used for other purposes, in both the short and long term.

A remarkable aspect is that this tool is also available for Coinbase Pro users, and even for those who use an external wallet, since it is possible to export the data and do the proper treatment through CoinTracker, all free of charge.

K. Tovar

Source: Diariobitcoin

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