(Note: I’m speaking of US taxation)
Cointracker offers both Universal and Per-Wallet methods of calculating cost-basis. I understand how they both work. What I’m trying to decide is which method to choose, and would like to hear some thoughts on the pros and cons on each.
On one hand. Universal let’s me easily do Specific Identification among all my coins everywhere. On the other hand, per-wallet just seems so easy to visualize, seems cleaner.
Relatedly, I have a question about Coinbase and Coinbase Pro. Are these two considered two separate wallets? If I did Per Wallet, would these two show up in the tax reports as two wallets, or be mixed together? And I wonder if and when Coinbase were to sent out 1099’s, if there would be one for both of them, or two separate ones? That’s probably an important question if I want my 1099s to match up with what I am reporting per wallet.