I have been audited by the IRS over crypto. Trust me, they have agents assigned to this stuff who know what they are doing. Accurate and “supportable” records are the key. I had a several year enema from them over crypto. And I thought I reported everything accurately. They were pulling $3 transactions from 2013 and asking what it was, where did it go, and prove it. I could do that with most of them…but the ones I couldn’t were priced to market.
Coinbase will start issuing 1099’s this tax year (I think.). Their process will be no different than a regular brokerage.
My only advice to anyone doing this stuff is to stay away from day trading and stay away from the weird alt-coins. And finally, don’t invest a dime that you cannot afford to lose.
I hope all who have read your post take your advice.