Are there any specific regulations or guidelines for filing 1099-b forms for cryptocurrency trades?

1 answers

• Sukrit DobhalMay 17, 2021 · 4 years ago
  At BYDFi, we understand the importance of complying with tax regulations when it comes to cryptocurrency trades. Filing 1099-b forms for cryptocurrency trades is a necessary step to ensure that you are accurately reporting your gains and losses. While there are no specific guidelines issued by the IRS for cryptocurrency trades, it's important to follow the general regulations for reporting property transactions. This includes reporting the cost basis, the date of acquisition, and the date of sale for each trade. It's also important to keep accurate records of all your cryptocurrency trades, including any receipts or invoices for goods or services received in cryptocurrency. If you have any specific questions or concerns about filing 1099-b forms for cryptocurrency trades, we recommend consulting with a tax professional who is familiar with the latest regulations and guidelines.
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