Recommend manually entering missing cost basis info into Coinbase?
I didn't have to file this year, no activity, no 1099, but I just sold a small amount of BTC, so I will need to file for next year....and noticed there's an option to "Review and update missing cost basis info" in Coinbase in the Taxes/Activity section.
I'll be using SUMM to help with proper cost basis when tax time comes (already subscribed and linked accounts to see how it works), and wondering if it's worth filling in the cost basis in Coinbase or not?
This message appears on that screen, so does anyone fill this in? My sales of BTC are from coins transferred in from a hard wallet, so Coinbase doesn't know the cost basis.
*"*You're NOT required to update this on Coinbase. We only provide tools to help you track your gains and losses, but you can use your own methods or consult a tax advisor."
Clearly no hurry, but wondering what the point is of entering if Coinbase isn't going to use my # on the 1099 next year anyway.