Are there any specific tax forms or guidelines for reporting Cash App cryptocurrency transactions?

3 answers

• Nikky eduMay 28, 2023 · 2 years ago
  Yes, when it comes to reporting cryptocurrency transactions on Cash App for tax purposes, you need to be aware of certain guidelines. The IRS treats cryptocurrencies as property, so you'll need to report any gains or losses from your transactions. You may need to fill out Form 8949 and Schedule D to report these transactions. It's always a good idea to consult with a tax professional to ensure you're following the correct procedures.
  437

  219
• Metayustia2224Nov 28, 2023 · 2 years ago
  Reporting cryptocurrency transactions on Cash App for tax purposes can be a bit tricky. While there are no specific tax forms dedicated to Cash App transactions, you still need to report your gains and losses. The IRS expects you to report your cryptocurrency transactions on Form 8949 and Schedule D. Make sure to keep track of your transactions and consult with a tax professional to ensure you're accurately reporting your cryptocurrency activities.
  452

  151
• bestsniperApr 30, 2022 · 3 years ago
  When it comes to reporting cryptocurrency transactions on Cash App for tax purposes, it's important to follow the guidelines set by the IRS. While there are no specific tax forms for Cash App transactions, you'll need to report your gains and losses on Form 8949 and Schedule D. Remember to keep detailed records of your transactions and consult with a tax professional if you have any doubts or questions.
  406

  102