Who sends a 1099-S for cryptocurrency transactions?
TetheugasDec 26, 2021 · 3 years ago3 answers
In the context of cryptocurrency transactions, who is responsible for sending a 1099-S form?
3 answers
- Dec 26, 2021 · 3 years agoAs an individual cryptocurrency trader, you are responsible for reporting your transactions and sending the 1099-S form to the IRS. It is important to keep accurate records of your trades and consult with a tax professional to ensure compliance with tax regulations.
- Dec 26, 2021 · 3 years agoCryptocurrency exchanges are not responsible for sending the 1099-S form. They may provide transaction history and reports, but it is ultimately the individual trader's responsibility to report their transactions to the IRS.
- Dec 26, 2021 · 3 years agoAt BYDFi, we provide transaction history and reports to our users, but we do not send the 1099-S form on behalf of our users. It is their responsibility to report their transactions and comply with tax regulations.
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