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By Bipul Sinha, Senior Product Manager, Coinbase

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, where it can be immediately converted into crypto, when they file with TurboTax. Customers will receive their full refund and can choose to save, invest, or spend it. Tax season can be stressful, but now there’s an easy way to put refunds to work.

Put your refund to work on Coinbase

According to the National Retail Federation, 62% of US taxpayers who expect to receive a refund this year plan to put the money towards savings, while 27% plan to use it for everyday spending. Our customers are increasingly thinking about how to incorporate crypto in their savings and everyday spending: putting money towards assets they think will increase in value, holding yield-bearing assets, and spending and earning with Coinbase. This year, customers can deposit refunds into Coinbase fee-free to start immediately putting their money to work. They can choose to get refunds deposited into 100+ cryptocurrencies from stablecoins to yield-bearing assets so they can trade or earn interest. Or, they can choose to receive refunds in USD so they can be ready for any trade or to spend with their Coinbase Visa® Card (if they choose to spend USD). All incoming tax refunds will be deposited without any fees².

File with TurboTax to deposit your refund into Coinbase

You can deposit your refund into Coinbase when you file with TurboTax. Here’s how:

  • Begin filing your taxes from the Coinbase section of the TurboTax website

Coinbase is committed to giving everyone instant and easy access to the cryptoeconomy. Last year, we started helping customers get paid in crypto and receive expense reimbursements in crypto. We’ll continue to enable new use cases that allow customers to transition more of their financial lives to the cryptoeconomy.

We’re also committed to making tax season as easy as possible. Visit for a personalized guide to your crypto taxes⁵.

¹If you choose to receive your refund in crypto, Coinbase will automatically convert the amount from US dollars to crypto with no trading fees. Choosing to receive your refund in crypto is an optional Coinbase offer.

²No Coinbase trading fees but a spread applies when we buy, sell, or trade cryptocurrencies. Other standard fees may apply, and will be shared during direct deposit sign-up.

³You can deposit a maximum of $25,000 per day.

⁴Coinbase account and routing number is for deposits only, withdrawals will be rejected.

⁵Coinbase doesn’t provide tax advice. Information here is provided to help you understand your taxes, but should be reviewed before you use it to file your taxes. Please work with a professional.

The Coinbase Card is issued by MetaBank®, N.A., Member FDIC, pursuant to a license from Visa U.S.A. Inc. The Coinbase Card is powered by Marqeta. You may use Coinbase Card to make purchases anywhere Visa Debit cards are accepted.

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