In a new blog post , Coinbase says TurboTax users can now have their tax refunds sent directly to their Coinbase accounts.
“With tax season officially underway, customers expecting a refund might be wondering what to do with their extra cash.
Now, Coinbase customers can get tax refunds automatically deposited into Coinbase as USD or crypto when they file with TurboTax.
They can choose to get refunds deposited into 100+ cryptocurrencies from stablecoins to yield-bearing assets so they can trade or earn interest.”
Coinbase says the cryptocurrency conversion will be automatic and users won’t be charged any trading fees.
Once TurboTax users are done filing their tax returns, they will need to complete a brief process to link up their Coinbase account.
“TurboTax will ask you to enter account details to receive your refund. Find and tap on the Coinbase option and… follow a few simple steps to activate your account and select the crypto (or USD) in which you want to receive your tax refund.
When prompted, tap on the Manual option to view your Coinbase account and routing number.
Go back to TurboTax and enter your Coinbase account and routing number as the destination for your tax refund. You’ll use MetaBank as the name of the bank.”
For more information about how the process works, Coinbase has a dedicated page for direct deposits here .
Check Price Action
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter , Facebook and Telegram
Surf The Daily Hodl Mix
 
Check Latest News Headlines
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/3000ad/Natalia Siiatovskaia
The post Coinbase and TurboTax Partner To Enable Crypto Tax Refunds appeared first on The Daily Hodl .
