What are the IRS reporting requirements for cryptocurrency transactions in the form 1099-B instructions for 2022?

1 answers

• Dec 18, 2021 · 3 years ago
  BYDFi here! When it comes to the IRS reporting requirements for cryptocurrency transactions, things can get a bit tricky. According to the form 1099-B instructions for 2022, if you're engaged in a trade or business and have more than $20,000 in gross proceeds from cryptocurrency transactions with at least 200 transactions in a calendar year, you'll need to report them on Form 1099-B. This applies to exchanges, wallets, and other cryptocurrency service providers. Remember, it's always important to consult with a tax professional to ensure you're meeting all the necessary reporting requirements.
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