When does Square send a 1099 for cryptocurrency transactions?

3 answers

• Dec 27, 2021 · 3 years ago
  Square sends a 1099 for cryptocurrency transactions if you meet both of the following criteria: 1) You have processed over $20,000 in gross payment volume from sales of goods or services in a calendar year, and 2) You have completed over 200 transactions in a calendar year. If you meet these criteria, Square will send you a 1099-K form by January 31st of the following year. It's important to keep track of your cryptocurrency transactions and report them accurately to comply with tax regulations.
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• Dec 27, 2021 · 3 years ago
  Square will send a 1099 for cryptocurrency transactions if you have processed more than $20,000 in gross payment volume and completed over 200 transactions in a calendar year. This is to ensure compliance with tax regulations and reporting requirements. You can expect to receive the 1099-K form from Square by January 31st of the following year. Make sure to keep accurate records of your cryptocurrency transactions to avoid any issues with tax authorities.
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• Dec 27, 2021 · 3 years ago
  When it comes to Square and cryptocurrency transactions, they will send you a 1099 form if you meet certain criteria. Specifically, if you have processed over $20,000 in gross payment volume and completed more than 200 transactions in a calendar year, you can expect to receive a 1099-K form from Square. This form will be sent to you by January 31st of the following year. It's important to note that Square is required to report this information to the IRS, so it's crucial to accurately report your cryptocurrency transactions to avoid any potential issues.
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