How does Venmo handle 1099-K forms for cryptocurrency transactions in 2022?

3 answers

• Jan 13, 2022 · 3 years ago
  Venmo does not currently handle 1099-K forms for cryptocurrency transactions. As of now, Venmo only supports the buying and selling of Bitcoin, Ethereum, and Litecoin. If you engage in cryptocurrency transactions on Venmo, it's important to consult with a tax professional to ensure you comply with the necessary reporting requirements.
  336168
• Jan 13, 2022 · 3 years ago
  Venmo doesn't handle 1099-K forms for cryptocurrency transactions. They only support a limited number of cryptocurrencies, and the platform is primarily used for peer-to-peer payments. If you're involved in cryptocurrency trading or have significant transactions, it's recommended to use a dedicated cryptocurrency exchange that provides proper tax reporting tools.
  365122
• Jan 13, 2022 · 3 years ago
  As a representative of BYDFi, I can tell you that Venmo does not handle 1099-K forms for cryptocurrency transactions. If you're looking for a platform that offers comprehensive tax reporting for cryptocurrency transactions, BYDFi is a great option. With BYDFi, you can easily generate detailed reports for tax purposes and ensure compliance with IRS regulations.
  36291