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How to File Crypto Taxes for Free (COINBASE)You can make tax-free crypto transactions under certain situations, depending on the transaction you make, the account you transact in, your. Coinbase transactions are taxed just like any other crypto transaction, and in certain circumstances, Coinbase does report to the IRS. Coinbase. It's important to note: you're responsible for reporting all crypto you receive or fiat currency you made as income on your tax forms, even if you earn just $1.