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Who sends a 1099-S for cryptocurrency transactions?

avatarRagab ShmaraNov 29, 2021 · 3 years ago3 answers

In the context of cryptocurrency transactions, who is responsible for sending a 1099-S form?

Who sends a 1099-S for cryptocurrency transactions?
Cryptocurrency
Tax
1099-S

3 answers

  • avatarNov 29, 2021 · 3 years ago
    As an individual cryptocurrency trader, you are responsible for reporting your transactions and sending the 1099-S form to the IRS. It is important to keep accurate records of your trades and consult with a tax professional to ensure compliance with tax regulations.
  • avatarNov 29, 2021 · 3 years ago
    Cryptocurrency exchanges are not responsible for sending the 1099-S form. They may provide transaction history and reports, but it is ultimately the individual trader's responsibility to report their transactions to the IRS.
  • avatarNov 29, 2021 · 3 years ago
    At BYDFi, we provide transaction history and reports to our users, but we do not send the 1099-S form on behalf of our users. It is their responsibility to report their transactions and comply with tax regulations.

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