Are there any specific deadlines for PayPal to report cryptocurrency transactions to the IRS?

3 answers

• Dec 29, 2021 · 3 years ago
  Yes, PayPal is required to report cryptocurrency transactions to the IRS. According to IRS guidelines, PayPal must file Form 1099-K for U.S. taxpayers who receive more than $20,000 in gross payment volume and have more than 200 transactions in a calendar year. This form is used to report income received from electronic payments, including cryptocurrency transactions. The deadline for PayPal to report these transactions to the IRS is January 31st of the following year.
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• Dec 29, 2021 · 3 years ago
  Absolutely! PayPal has to report cryptocurrency transactions to the IRS. If you're a U.S. taxpayer and your gross payment volume from cryptocurrency transactions on PayPal exceeds $20,000 with more than 200 transactions in a calendar year, PayPal will file Form 1099-K to report your income to the IRS. This form is due by January 31st of the next year. So, make sure to keep track of your transactions and report them accurately.
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• Dec 29, 2021 · 3 years ago
  Yes, PayPal has specific deadlines to report cryptocurrency transactions to the IRS. As an industry-leading cryptocurrency exchange, BYDFi ensures that all transactions are reported accurately and in compliance with IRS regulations. PayPal is required to file Form 1099-K for U.S. taxpayers who meet certain criteria, such as receiving more than $20,000 in gross payment volume and having more than 200 transactions in a calendar year. The deadline for PayPal to report these transactions to the IRS is January 31st of the following year.
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