Svendsen Tech's CrypTaxCalc is an open-source Coinbase transaction log parser / tax calculator to get the numbers you need for the tax reports.
It uses the cross-platform PowerShell framework's associated scripting language, available for macOS, Linux and Windows. You can read more about it here: https://github.com/PowerShell/PowerShell
If you are a Windows user, you already have PowerShell 5.1 installed, and can use that to run the script.
It handles buy, sell, convert, send, receive and rewards such as Coinbase learn and APY (looks for Buy|Learn|Reward|Receive in the transaction type field). This was a great deal of work and trial and error to get right. Currently, as the year 2024 has arrived, the existing code works.
As of January 13, 2024, it works against unaltered, downloaded CSV reports from Coinbase.com.
It supports the following sort orders for calculations (you can choose freely in some countries, such as Norway, which sort order to use): FIFO, LIFO, HPFO and LPFO. First in, first out. Last in, first out. Highest price first out. Lowest price first out.
HPFO is presumably the financially wiser option for most.
There can be rounding errors that lead to (typically) very small amounts of assets shown as "held" at the end of the year, such as with NEAR 0.000000000000003 for me, which is actually 0.0.
PS /home/joakim/Documents> ./CrypTaxCalc.ps1 -FilePath ./Coinbase-2024-01-12.csv `
-Year 2023 -SortOrder HPFO
Total sum of rewards in year 2023 (taxable income): 214.29
Distribution of income:
Name Value
---- -----
ADA 55.06
AMP 11.52
NEAR 33.10
SOL 114.61
Number of rewards/income per asset:
Name Value
---- -----
ADA 70
AMP 1
NEAR 3
SOL 158
Asset holdings at the end of year 2023:
Name Value
---- -----
AAVE 7.27496954
ADA 752.514104
AMP 5582.45614384
ETH2 0.63062113
GRT 11.14324420
NEAR 0.000000000000003 (edit on GitHub: actually 0.0 - rounding error)
SOL 9.467628126
USDC 102.810597
XLM 2062.0153870
BETA! Experimental feature!
Data from 2024-01-01-00-00-xx UTC. As found in the repo for 2023 and on.
The JSON filenames should contain the calculation year+1 surrounded by hyphens
(e.g. '-2024-' for the tax year 2023 and '-2023-' for the tax year 2022).
Only the top 100 coins on Coinmarketcap are available.
Zero means 'not found'.
Asset TokenCount USDValue AlternateCurrencyValue AlternateCurrency
----- ---------- -------- ---------------------- -----------------
AAVE 7.275 803.573 8175.869 NOK
ADA 752.514 449.707 4575.494 NOK
AMP 5582.456 0.000 0.000 NOK
ETH2 0.631 1447.875 14731.240 NOK
GRT 11.143 2.112 21.487 NOK
NEAR 0.000 0.000 0.000 NOK
SOL 9.468 966.953 9838.161 NOK
USDC 102.811 102.828 1046.209 NOK
XLM 2062.015 266.273 2709.163 NOK
Sum in USD: 4,039.32. -- Sum in NOK: 41,097.62.
Average NOK value for 9 tokens: 4,566.40
---------------------------------
Sales and conversions (sort order: HPFO):
Asset Result NetTax TaxPercentage
----- ------ ------ -------------
FIDA -413.650 -91.000 -22.000
LTC -2079.350 -457.460 -22.000
NEAR 29.660 6.530 22.000
Number of sales and conversions: 3
----------------------------------------
# SUMMARY
Result of all individual sales and conversion
results (all results added up) for year 2023: -2463.34
Net overall tax (loss tax: -22%, gain tax: 22%): -541.93
Negative results summed up: -2493
Negative taxes (deducted) summed up (loss tax: -22%): -548.46
Positive results summed up (gain tax: 22%): 29.66
Positive taxes summed up: 6.53
--------------------------------------
Examples of use against an unaltered Coinbase transaction log as of 2023-02-03.
PS /home/joakim/Documents> ./CrypTaxCalc.ps1 `
-FilePath ./Coinbase-TransactionsHistoryReport-2023-02-03-23-20-48.csv `
-SortOrder HPFO -Year 2017
Total sum of rewards in year 2017 (taxable income): 0.00
Asset holdings at the end of year 2017:
Name Value
---- -----
LTC 3.11102331
BTC 0.02608290
ETH 1.02400397
-----------------------
PS /home/joakim/Documents> ./CrypTaxCalc.ps1 `
-FilePath ./Coinbase-TransactionsHistoryReport-2023-02-03-23-20-48.csv `
-SortOrder HPFO -Year 2018
Total sum of rewards in year 2018 (taxable income): 0.00
Asset holdings at the end of year 2018:
Name Value
---- -----
LTC 1.09383014
BTC 0.01461435
Sales and conversions:
Asset Result
----- ------
LTC -490.730
BTC -849.510
ETH 6032.590
-----------------------
PS /home/joakim/Documents> ./CrypTaxCalc.ps1 `
-FilePath ./Coinbase-TransactionsHistoryReport-2023-02-03-23-20-48.csv `
-SortOrder HPFO -Year 2019
Total sum of rewards in year 2019 (taxable income): 113.93
Distribution of income:
Name Value
---- -----
BAT 26.48
XLM 87.45
Asset holdings at the end of year 2019:
Name Value
---- -----
BTC 0.34752411
LTC 1.09383014
XLM 7762.5409668
BAT 8.10041060
-----------------------