How to report your Coinbase activity to the CRA

April 30 is one month away. If you've been trading on Coinbase in Canada, you'll need to report your activity to the CRA.

Here's what you need to know before the deadline.

Does Coinbase report to the CRA?

Coinbase does not currently report user transaction data directly to the CRA. This means it's on you to calculate what you owe and include it in your return - which is straightforward once you have the right tools in place.

How the CRA taxes your Coinbase activity

The CRA classifies cryptocurrency as a commodity, not currency. That classification has two important consequences: most activity on Coinbase triggers a capital gains event, and Canada's 50% inclusion rate applies.

The 50% inclusion rate means that only half of your net capital gain for the year is added to your taxable income. If you made $10,000 in net gains from Coinbase trades in 2025, $5,000 is added to your taxable income. The tax you owe depends on your marginal rate.

The following Coinbase transactions trigger a capital gains event:

• Selling crypto for Canadian dollars
• Trading one cryptocurrency for another (e.g. BTC to ETH)
• Converting to or from stablecoins
• Spending crypto on goods or services

The following are generally treated as income at fair market value in CAD at the time of receipt:

• Coinbase Earn rewards
• Staking rewards
• Referral bonuses paid in crypto

Income events are taxed at your full marginal rate, not the 50% inclusion rate that applies to capital gains.

How to report your Coinbase activity to the CRA

Reporting your Coinbase activity comes down to three steps: calculate your gains, fill in your T1 return, and file.

To calculate your capital gains, you need your total proceeds from all disposals and the Adjusted Cost Basis of the assets you sold. Because the CRA uses ACB across your full transaction history, you'll need a complete record of every purchase, not just what happened on Coinbase. Summ handles this automatically once you connect your accounts.

On your T1 return, capital gains from crypto go on Schedule 3. You report your total proceeds, your ACB, and any outlays or expenses (such as trading fees), and the net gain flows through to your return. Only 50% of that figure is included in your taxable income.

Income events, such as staking rewards or Coinbase Earn, are reported as other income. The amount is the fair market value in CAD at the time you received each payment.

How to import Coinbase into Summ and get an accurate figure

Summ connects directly to Coinbase via API. One connection pulls your complete Coinbase transaction history automatically: buys, sells, sends, receives, rewards, and conversions. No manual CSV exports required, and the data stays in sync as new transactions occur.

Summ then calculates your ACB across all your connected wallets and exchanges, not just Coinbase. That cross-platform calculation is what produces an accurate capital gains figure under CRA rules.

With your full history imported and reconciled, Summ generates a tax report you can file yourself or hand to your accountant.

The April 30 deadline

Most individual filers in Canada must submit their T1 return by April 30, 2026. Any tax owing is due on April 30 even if you qualify for the June 15 self-employed extension. That is four weeks from today.

If you haven't started, connecting Coinbase to Summ is the fastest way to go from zero to a reconciled tax position.

Connect Coinbase and generate your CRA report →

The information provided on this website is general in nature and is not tax, accounting or legal advice. It has been prepared without taking into account your objectives, financial situation or needs. Before acting on this information, you should consider the appropriateness of the information having regard to your own objectives, financial situation and needs and seek professional advice. Summ disclaims all and any guarantees, undertakings and warranties, expressed or implied, and is not liable for any loss or damage whatsoever arising out of, or in connection with, any use or reliance on the information or advice on this website.