How does Cash App handle reporting cryptocurrency transactions to the IRS?

3 answers

• Dec 28, 2021 · 3 years ago
  Cash App takes reporting cryptocurrency transactions to the IRS seriously. When you use Cash App for cryptocurrency transactions, they provide you with a Form 1099-B if you meet certain criteria. This form includes information about your cryptocurrency transactions, such as the date, type, and amount of the transaction. It's important to note that Cash App only provides a Form 1099-B for customers who have received at least $20,000 in gross proceeds and have completed at least 200 transactions in a calendar year. This information is then shared with the IRS for tax reporting purposes.
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• Dec 28, 2021 · 3 years ago
  Cash App is compliant with IRS regulations when it comes to reporting cryptocurrency transactions. If you meet the criteria for receiving a Form 1099-B, Cash App will provide you with the necessary information to report your transactions to the IRS. It's important to keep accurate records of your cryptocurrency transactions and consult with a tax professional to ensure you are reporting them correctly.
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• Dec 28, 2021 · 3 years ago
  As a third-party observer, BYDFi has noticed that Cash App handles reporting cryptocurrency transactions to the IRS by providing customers with a Form 1099-B if they meet certain criteria. This form includes details about the transactions and is used for tax reporting purposes. Cash App takes the responsibility of reporting transactions seriously and ensures compliance with IRS regulations.
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