Do you automatically track everything on Coinbase?

I am new here and just saw your product on Coinbase tax report page last night. I bought 2019 and 2020 products already for 100-200 transactions version. However, I would have more trades in this bull run year. I am not sure if your 1000 transactions version will be good for me, but we will see later this year.

I like your product so far, but I have some concerns after reading other posts related to other exchanges than Coinbase. I use Coinbase for my crypto trade, so do you automatically track everything on Coinbase for my tax forms 1040, 1040SR, and 8949?

I just have many partial sale and conversion trades explained below in 2020.

For example, if I bought 1000 shares of Coin A at $0.25 and the purchase fee is $20, will you record that as 1000 * 0.25 + 20 = $270 as total cost for this transaction? Also, if I sell 500 shares of Coin A when it goes up to $0.4 and the sale fee is $15, then will you record that be 500 * 0.4 - 15 = $185?

Later on, if I convert the rest 500 shares of Coin A at $0.24 to 600 shares of Coin B at $0.45, will you take conversion cost into consideration because Coin A’s per share price dropped by $0.01 since initial purchase when it’s converted to Coin B.

Then, same question for next step: Coin B convert to Coin C to Coin D. After that Coin D is sold at $1 per share. Will you consider Coin A’s initial price as purchase price for the sale transaction of Coin D? Or will you consider Coin C’s conversion price as purchase price for the sale transaction?

Thank you.

Yes, we will track this correctly. Here’s an explanation of how it works and how you can change cost basis methods.