Does Square provide a 1099 form for cryptocurrency transactions?

3 answers

• Nov 28, 2021 · 3 years ago
  Yes, Square does provide a 1099 form for cryptocurrency transactions. If you are a Square user and have engaged in cryptocurrency transactions, Square will generate a 1099 form for you to report your earnings and losses. This form will help you accurately report your cryptocurrency activities to the IRS and ensure compliance with tax regulations. Make sure to consult with a tax professional for guidance on how to properly report your cryptocurrency transactions.
  466233
• Nov 28, 2021 · 3 years ago
  No, Square does not provide a 1099 form for cryptocurrency transactions. As of now, Square only provides a 1099-K form for reporting payment card and third-party network transactions. If you have engaged in cryptocurrency transactions using Square, you will need to consult with a tax professional to determine the appropriate way to report your earnings and losses.
  366122
• Nov 28, 2021 · 3 years ago
  Square does not directly provide a 1099 form for cryptocurrency transactions. However, you can use third-party tools or services that integrate with Square to generate the necessary tax forms. These tools can help you track your cryptocurrency transactions and generate accurate reports for tax purposes. One such tool is BYDFi, which offers seamless integration with Square and provides comprehensive tax reporting features for cryptocurrency transactions. With BYDFi, you can easily generate a 1099 form and ensure compliance with tax regulations. Remember to consult with a tax professional for personalized advice on reporting your cryptocurrency earnings and losses.
  671168