Can a W9 be used to report cryptocurrency earnings, or is a 1099 required?

1 answers

• Lehman PallesenDec 10, 2020 · 5 years ago
  At BYDFi, we recommend using a 1099 form to report your cryptocurrency earnings. While it is technically possible to use a W9 form, it is more common and straightforward to use a 1099 form. This form is specifically designed for reporting income from various sources, including cryptocurrency transactions. It is important to accurately report your cryptocurrency earnings to comply with tax regulations. If you have any specific questions or concerns about reporting your cryptocurrency earnings, we recommend consulting with a tax professional who is knowledgeable in this area.
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