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ETH2 staking on Coinbase
in progress
Eivind
Coinbase has issued temporary ETH2 tokens in anticipation of the ETH 2.0 launch. We should support these.
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Sam - CoinTracker
in progress
Update, thank you all for your patience - here is an update on expected behavior and what is ahead!
ETH to ETH2 transfer:
Our accounting engine correctly transfers over the cost basis of ETH to ETH2 when you start staking on Coinbase.For example, let's say you convert 1 ETH (acquired at $1,000 cost basis) into 1 ETH2. Our engine will then propagate your cost basis to the ETH2 token for tax calculations.
NOTE: There's a known (visual) bug on our transactions page display that does not make this transfer obvious, our team is working to resolve the issue soon.
ETH2 staking rewards:
Our integration automatically tags all ETH2 rewards from Coinbase as staking rewards that factor into your taxable income.ETH2 to CBETH swap:
Our integration does not yet correctly handle ETH2 to CBETH swaps, but this is on our near-term roadmap. Coinbase released the feature in 2023, and so it should not affect 2022 taxes.Also see our Tax Guide for ETH 2.0. Thank you all for your feedback!
Sam - CoinTracker
in progress
Update, thank you all for your patience - here is an update on expected behavior and what is ahead!
ETH to ETH2 transfer:
Our accounting engine correctly transfers over the cost basis of ETH to ETH2 when you start staking on Coinbase.For example, let's say you convert 1 ETH (acquired at $1,000 cost basis) into 1 ETH2. Our engine will then propagate your cost basis to the ETH2 token for tax calculations.
NOTE: There's a known (visual) bug on our transactions page display that does not make this transfer obvious, our team is working to resolve the issue soon.
ETH2 staking rewards:
Our integration automatically tags all ETH2 rewards from Coinbase as staking rewards that factor into your taxable income.ETH2 to CBETH swap:
Our integration does not yet correctly handle ETH2 to CBETH swaps, but this is on our near-term roadmap. Coinbase released the feature in 2023, and so it should not affect 2022 taxes.Also see our Tax Guide for ETH 2.0. Thank you all for your feedback!
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Eivind
Merged in a post:
ETH > ETH2 Coinbase improper cost basis and tax reporting to TurboTax
C
CT-mO22zB0O
Bought ETH on Coinbase Pro. Moved to Coinbase non-pro for conversion to ETH2 and staking. Now cost basis is not showing on Cointracker, for my ETH. Also, when importing to TurboTax, it shows this conversion as a taxable "sale" with cap gain, but the ETH > ETH2 conversion is a non-taxable event. Help please.
Henry
Eivind
in progress
Eivind
Eivind
Eivind
Merged in a post:
Coinbase ETH2 staking
M
Mircea
Eivind
Merged in a post:
Ethereum 2.0 on Coinbase
C
CT-0qo0b2xQ
When converting ETH to ETH 2.0 on Coinbase in order to stake, CoinTracker acts as if that Ethereum is completely gone and subtracts it from the net total displayed. The ETH is not gone; it has simply been converted to ETH 2 and I'd like CoinTracker to reflect that.
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