Coinbase reported me to the IRS - avoid this company or be tax audited

E

elonmusk

Member
There are a lot of reasons to hate Coinbase. For starters, their CEO Brian Armstrong has been trying to fire the core developers for the past few years and turn bitcoin into some kind of crop coin, they have non existent customer support and they charge their customers insanely high fees while at the same time not implementing SegWit. Now, on top of all this I received the following email from coinbase this morning....

“You are receiving this email because our records indicate that your GDAX / Coinbase account meets the threshold for tax reporting. As a result, we will be submitting a 1099K to the IRS on your behalf.”

Unless you want to be audited by the IRS then you should buy your bitcoin elsewhere.
 
N

neet

Member
If you want to buy large quantities of bitcoin and remain under the radar of the IRS or any tax authority then use a decentralised exchange or buy from Paxful or Localbitcoins. Otherwise you may get a huge tax bill in the future.
 
You must log in or register to reply here.
Top