I've for TurboTax to import my crypto stuff from Coinbase, but when I go to file, they ask me to review a few things. They keep asking me to enter Cost or Adjusted Basis.

[garry7381]

How do I know what to enter here? There is nothing on the form that I see that is a Cost or Adjusted Basis field.

[bosso3]

Generally your Cost or Adjusted Basis is the amount of money you paid for an asset (your cryptocurrency).

Refer to https://www.irs.gov/taxtopics/tc703 for details.

[bosso3]

Continued from previous note. . . .

This amount may not be on the report you received.  If not, you will need to find your record(s) that report your purchase(s) and possibly your sale(s).

[HelenC12]

Bosso3 is correct. If a cost basis is not listed, you need to calculate it. Per Coinbase, Cost basis = Purchase price (or price acquired) + Purchase fees.

In general, the higher the cost basis of the crypto you’re selling, trading, or spending relative to the amount of proceeds you receive, the smaller your capital gain and, in most instances, the less tax you’ll pay.

It’s important to keep careful and detailed records of all your crypto transactions. 

Related information: Cryptocurrency Info Center