Are crypto.com users required to report their transactions to the IRS?

4 answers

• Mar 22, 2022 · 3 years ago
  Yes, crypto.com users are required to report their transactions to the IRS. The IRS considers cryptocurrency as property, and any gains or losses from cryptocurrency transactions are subject to taxation. Users should keep track of their transactions and report them on their tax returns.
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• Mar 22, 2022 · 3 years ago
  Absolutely! Just like any other investment, cryptocurrency transactions on crypto.com are subject to taxation. The IRS has been actively cracking down on unreported cryptocurrency transactions, so it's important for users to stay compliant and report their gains or losses.
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• Mar 22, 2022 · 3 years ago
  As a third-party, I can confirm that crypto.com advises its users to comply with their tax obligations. The platform provides transaction history and tax reports to assist users in accurately reporting their cryptocurrency activities to the IRS. It's crucial for users to consult with a tax professional for specific guidance.
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• Mar 22, 2022 · 3 years ago
  You bet! The IRS has been keeping a close eye on cryptocurrency transactions, and crypto.com users are not exempt. It's essential to keep detailed records of all transactions and report them accordingly. Failing to do so may result in penalties or audits from the IRS.
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