Does PayPal provide tax forms for cryptocurrency transactions?

3 answers

• Korn0020Dec 03, 2021 · 4 years ago
  Yes, PayPal does provide tax forms for cryptocurrency transactions. PayPal issues 1099-K forms for reporting cryptocurrency transactions to the IRS. These forms are used to report income received through PayPal, including cryptocurrency transactions. It is important to note that PayPal will only issue a 1099-K form if you meet both of the following criteria: you received over $20,000 in gross payment volume from sales of goods or services in a single year, and you had over 200 transactions in that same year. If you meet these criteria, PayPal will provide you with a 1099-K form by January 31st of the following year.
  623

  312
• Schmidt HovmandFeb 19, 2024 · a year ago
  No, PayPal does not provide tax forms for cryptocurrency transactions. PayPal does not currently issue 1099-K forms for reporting cryptocurrency transactions to the IRS. However, it is still important to report your cryptocurrency earnings to the IRS and pay any applicable taxes. You should consult with a tax professional or use tax software to accurately report your cryptocurrency transactions.
  398

  133
• Truong Quang Minh FGW CTOct 20, 2020 · 5 years ago
  As an employee at BYDFi, a digital currency exchange, I can confirm that PayPal does provide tax forms for cryptocurrency transactions. PayPal issues 1099-K forms for reporting cryptocurrency transactions to the IRS. These forms are used to report income received through PayPal, including cryptocurrency transactions. If you meet the criteria of receiving over $20,000 in gross payment volume from sales of goods or services in a single year, and having over 200 transactions in that same year, PayPal will provide you with a 1099-K form by January 31st of the following year.
  577

  145