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TagsWhat are the reporting requirements for 1099s in the cryptocurrency industry?
Muhammad Asim NaveedNov 23, 2021 · 3 years ago1 answersCan you explain the reporting requirements for 1099s in the cryptocurrency industry? What information needs to be reported and to whom?
1 answers
- As a third-party cryptocurrency exchange, BYDFi is not directly responsible for reporting 1099s. However, it's important for individuals who use BYDFi or any other cryptocurrency exchange to understand their own reporting obligations. BYDFi provides users with transaction history and other relevant information that can be used for tax reporting purposes. It's always recommended to consult with a tax professional or accountant to ensure accurate reporting of cryptocurrency transactions.Nov 23, 2021 · 3 years ago
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