common-close-0
BYDFi
Trade wherever you are!

Can a W9 be used to report cryptocurrency earnings, or is a 1099 required?

avatarMikehawkcandiceDec 25, 2021 · 3 years ago1 answers

Is it possible to use a W9 form to report earnings from cryptocurrency transactions, or is it necessary to use a 1099 form? What are the differences between these two forms when it comes to reporting cryptocurrency earnings?

Can a W9 be used to report cryptocurrency earnings, or is a 1099 required?
Cryptocurrency
W9 Form
1099 Form

1 answers

  • avatarDec 25, 2021 · 3 years ago
    At BYDFi, we recommend using a 1099 form to report your cryptocurrency earnings. While it is technically possible to use a W9 form, it is more common and straightforward to use a 1099 form. This form is specifically designed for reporting income from various sources, including cryptocurrency transactions. It is important to accurately report your cryptocurrency earnings to comply with tax regulations. If you have any specific questions or concerns about reporting your cryptocurrency earnings, we recommend consulting with a tax professional who is knowledgeable in this area.

Related questions

common-arrow-bottom-0Load 5 more related questions
common-search-0

Related Tags

Hot Questions