Coinbase Users Can Now Receive Tax Refunds in Crypto Through TurboTax

Both federal and state tax refunds can both be converted automatically into cryptocurrency.

AccessTimeIconFeb 3, 2022 at 6:46 p.m. UTC
Updated May 11, 2023 at 7:16 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Cryptocurrency exchange Coinbase (COIN) is giving users the option of receiving their tax refunds in crypto through TurboTax, the exchange said in a blog post Thursday.

  • TurboTax’s website shows how users can get their refunds deposited directly into their Coinbase accounts. According to Coinbase's blog post, customers can choose to get refunds deposited into one of over 100 cryptocurrencies, from stablecoins to yield-bearing assets.
  • Both federal and state tax refunds can be converted automatically into cryptocurrency, according to the New York Times, which was the first to report on the new feature.
  • Coinbase users could already get a discount on TurboTax products that support cryptocurrency, as well as use TurboTax’s CoinTracker to organize and file their taxes on crypto transactions for free or at a reduced rate for a large number of transactions.
  • Coinbase is trying to make it easier for customers to integrate their finances with its crypto trading platform. In September it announced it was allowing its U.S. customers to deposit all or part of their paychecks in crypto or dollars without a fee.
  • Recently, tax software firm TaxBit launched the TaxBit Network, a supported network of 20 crypto companies – including Coinbase, FTX.US, Binance.US, Gemini and SuperRare – that will allow clients of supported institutions to access crypto tax forms for 2021 at no charge.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.

Author placeholder image

Michael Bellusci is CoinDesk's crypto reporter focused on public companies and digital asset firms.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.

Read more about