Does Square provide 1099 forms for cryptocurrency transactions?

3 answers

• Nov 26, 2021 · 3 years ago
  Yes, Square provides 1099 forms for cryptocurrency transactions. As a payment processor, Square is required to report transactions to the IRS if they meet certain criteria. You can use Square to track and report your cryptocurrency income for tax purposes. Make sure to consult with a tax professional for accurate guidance.
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• Nov 26, 2021 · 3 years ago
  No, Square does not provide 1099 forms specifically for cryptocurrency transactions. Square's 1099 forms are primarily for reporting income from credit card transactions. However, you can still use Square to track your cryptocurrency income and generate reports for your own record-keeping and tax purposes.
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• Nov 26, 2021 · 3 years ago
  While Square does not directly provide 1099 forms for cryptocurrency transactions, there are third-party services and software that can integrate with Square to help you track and report your cryptocurrency income. These services can provide you with the necessary documentation and reports for tax purposes. BYDFi, a popular cryptocurrency exchange, is one such service that offers integration with Square for cryptocurrency transaction reporting.
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