How does Cash App handle reporting 1099 for cryptocurrency sales?

3 answers

• Dec 22, 2021 · 3 years ago
  Cash App handles reporting 1099 for cryptocurrency sales by providing users with a Form 1099-B if they meet the IRS requirements. This form includes information about the user's cryptocurrency sales, such as the date of sale, proceeds, and cost basis. Users are responsible for accurately reporting this information on their tax returns. It's important to note that Cash App only provides the form if the user's cryptocurrency sales meet the IRS threshold for reporting.
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• Dec 22, 2021 · 3 years ago
  When it comes to reporting 1099 for cryptocurrency sales on Cash App, users need to be aware of their tax obligations. Cash App will provide a Form 1099-B to users who meet the IRS requirements for reporting cryptocurrency sales. This form will contain the necessary information for users to accurately report their cryptocurrency sales on their tax returns. It's important to consult with a tax professional or refer to IRS guidelines to ensure compliance with reporting requirements.
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• Dec 22, 2021 · 3 years ago
  Cash App handles reporting 1099 for cryptocurrency sales by issuing a Form 1099-B to users who meet the IRS requirements. This form includes details of the user's cryptocurrency sales, such as the date of sale, proceeds, and cost basis. Users should carefully review this form and consult with a tax professional to ensure accurate reporting of their cryptocurrency sales. It's important to note that the responsibility for reporting cryptocurrency sales lies with the user, and Cash App provides the necessary documentation to assist in this process.
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