What are the tax forms required for reporting cryptocurrency transactions on Robinhood?

3 answers

• Dec 18, 2021 · 3 years ago
  When it comes to reporting cryptocurrency transactions on Robinhood, you'll need to fill out Form 1099-K if you meet certain criteria. This form is used to report income received from the sale of cryptocurrencies. It's important to note that Robinhood will only issue a 1099-K if you have made at least 200 transactions and the total proceeds exceed $20,000 in a calendar year. Make sure to consult with a tax professional to ensure you accurately report your cryptocurrency transactions on Robinhood.
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• Dec 18, 2021 · 3 years ago
  Reporting cryptocurrency transactions on Robinhood requires the completion of Form 1099-B. This form is used to report the sale of securities, including cryptocurrencies. It provides information on the cost basis, proceeds, and any gains or losses from the transactions. It's crucial to keep track of your transactions and consult with a tax advisor to accurately fill out Form 1099-B for your cryptocurrency activities on Robinhood.
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• Dec 18, 2021 · 3 years ago
  When it comes to reporting cryptocurrency transactions on Robinhood, you may also need to fill out Form 8949. This form is used to report capital gains and losses from the sale of assets, including cryptocurrencies. It requires you to provide detailed information about each transaction, including the date of acquisition, date of sale, cost basis, and proceeds. It's recommended to use tax software or consult with a tax professional to ensure accurate reporting of your cryptocurrency transactions on Robinhood.
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