What are the differences between reporting 1099-div and 1099-int for cryptocurrency earnings?

1 answers

• Dec 24, 2021 · 3 years ago
  As a cryptocurrency investor, reporting your earnings correctly is essential. When it comes to reporting 1099-div and 1099-int for cryptocurrency earnings, it's important to understand the distinctions. The 1099-div form is used to report dividends and distributions from investments, including cryptocurrency investments. If you received dividends or distributions from your cryptocurrency holdings, you may need to report them using the 1099-div form. On the other hand, the 1099-int form is used to report interest income. If you earned interest income from lending out your cryptocurrency, you may need to report it using the 1099-int form. Make sure to keep detailed records of your earnings and consult with a tax professional to ensure compliance with reporting requirements.
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