Coin base reporting to IRS

Question

Hello,&#xA; &#xA;quick question for anyone that can help. I have 21k to cash out of my online book. In years past I&#x2019;ve cashed out via Bitcoin sent to coin base, converted that to USD then sent to PayPal. I heard someone tell talking the other day they received a tax form because their coin base activity was now being reported.  I took a break for a while and haven&#x2019;t cashed out since 2018. So my question is, is there any other wallet I can create and send my Bitcoin to and easily convert to USD and cash that out? Is the coin base method still safe and should be fine to use? Not sure how I feel about it being reported to IRS and that income used against my taxes. Thanks for any insight!

Dracarys · Answer

Hello,&#xA; &#xA;quick question for anyone that can help. I have 21k to cash out of my online book. In years past I&#x2019;ve cashed out via Bitcoin sent to coin base, converted that to USD then sent to PayPal. I heard someone tell talking the other day they received a tax form because their coin base activity was now being reported.  I took a break for a while and haven&#x2019;t cashed out since 2018. So my question is, is there any other wallet I can create and send my Bitcoin to and easily convert to USD and cash that out? Is the coin base method still safe and should be fine to use? Not sure how I feel about it being reported to IRS and that income used against my taxes. Thanks for any insight!

666LES · Answer

Does coinbase or any other site you use have your SS#? If no,IRS doesn&#x27;t know shit.

Coin base reporting to IRS

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