Is it mandatory to include a 1099 form from Coinbase when filing taxes on cryptocurrency earnings?

3 answers

• Jan 14, 2022 · 3 years ago
  Yes, it is mandatory to include a 1099 form from Coinbase when filing taxes on cryptocurrency earnings. The IRS requires individuals to report all income, including earnings from cryptocurrency. Failure to include the 1099 form can result in penalties and potential audits. It's important to accurately report your earnings to avoid any legal consequences.
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• Jan 14, 2022 · 3 years ago
  Including a 1099 form from Coinbase when filing taxes on cryptocurrency earnings is not mandatory, but it is highly recommended. While the IRS may not have direct access to your Coinbase account information, they have been cracking down on cryptocurrency tax evasion. By voluntarily including the 1099 form, you can demonstrate your compliance and avoid potential future issues with the IRS. It's better to be safe than sorry!
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• Jan 14, 2022 · 3 years ago
  As an expert in the field, I can confirm that it is indeed mandatory to include a 1099 form from Coinbase when filing taxes on cryptocurrency earnings. The IRS has been actively monitoring cryptocurrency transactions and is cracking down on tax evasion. Failing to include the 1099 form can lead to penalties, fines, and even legal consequences. Make sure to accurately report your earnings to avoid any trouble with the IRS.
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