What should I do if I did not receive a 1099-K for my cryptocurrency transactions?

3 answers

• Dec 17, 2021 · 3 years ago
  If you did not receive a 1099-K for your cryptocurrency transactions, you should still report your earnings and pay taxes on them. The absence of a 1099-K does not exempt you from your tax obligations. You can use your own records, such as transaction history and account statements, to calculate your gains and losses. It's important to keep accurate records and consult with a tax professional if needed to ensure compliance with tax laws.
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• Dec 17, 2021 · 3 years ago
  Don't panic if you didn't receive a 1099-K for your cryptocurrency transactions. The responsibility to report your earnings and pay taxes lies with you, regardless of whether you receive a 1099-K or not. Make sure to keep track of your transactions and calculate your gains and losses accurately. If you're unsure about how to proceed, consider consulting a tax professional who is knowledgeable about cryptocurrency taxation.
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• Dec 17, 2021 · 3 years ago
  As an expert in the cryptocurrency industry, I can tell you that not receiving a 1099-K for your cryptocurrency transactions is not uncommon. Many cryptocurrency exchanges do not issue 1099-K forms, especially if you haven't reached a certain threshold of transactions. However, this does not absolve you from your tax obligations. You still need to report your earnings and pay taxes on them. Keep track of your transactions and consult with a tax professional to ensure you're compliant with tax laws.
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