Improve ETH2 staking on Coinbase
complete
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 the cost basis transfer obvious, users may see the trade from ETH to ETH2 as both assets with a cost basis of $0.00. 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!
Emma - CoinTracker
complete
Sarah T. - CoinTracker
Sam - CoinTracker
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 the cost basis transfer obvious, users may see the trade from ETH to ETH2 as both assets with a cost basis of $0.00. 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 - CoinTracker
Eivind
in progress
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