Coinbase report: Crypto users want to pay taxes, but complexity remains
A Coinbase and CoinTracker report reveals that while the majority of cryptocurrency users intend to comply with tax rules, widespread confusion and complexity hinder compliance. Key findings show 74% of users know crypto is taxable and 65% have reported it previously, but only 49% correctly identify taxable events. New IRS Form 1099-DA, set for 2027, aims to standardize reporting but does not resolve the critical challenge of cost basis calculation. With users averaging 2.5 platforms and 83% using self-custody wallets, tracking original purchase prices remains difficult. Only 35% have adjusted cost basis. As a result, many users are turning to AI, with 47% open to using it for calculations and 30% for the entire tax process, though traditional methods like tax software (78%) and accountants (52%) remain dominant.
ambcrypto03/30 16:10
