Does the information reported to the IRS on form 1099-S include cryptocurrency transactions?

4 answers

• Alexis ClercBeaufortAug 03, 2020 · 5 years ago
  Yes, cryptocurrency transactions are required to be reported on form 1099-S. The IRS considers cryptocurrency as property, and any sale or exchange of cryptocurrency needs to be reported for tax purposes. It is important to accurately report your cryptocurrency transactions to avoid any potential penalties or audits from the IRS.
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• NeymarXDFeb 25, 2024 · 2 years ago
  Absolutely! Cryptocurrency transactions are not exempt from reporting on form 1099-S. The IRS has been actively cracking down on unreported cryptocurrency transactions, so it is crucial to include them in your tax filings. Make sure to keep detailed records of your cryptocurrency transactions to ensure accurate reporting.
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• naseerudin bakshiMar 24, 2021 · 5 years ago
  Yes, cryptocurrency transactions are indeed included in the information reported to the IRS on form 1099-S. As a representative from BYDFi, a digital currency exchange, I can confirm that we provide the necessary information to the IRS for reporting purposes. It is important for individuals and businesses to comply with tax regulations and report their cryptocurrency transactions accordingly.
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• NeymarXDMar 28, 2022 · 4 years ago
  Absolutely! Cryptocurrency transactions are not exempt from reporting on form 1099-S. The IRS has been actively cracking down on unreported cryptocurrency transactions, so it is crucial to include them in your tax filings. Make sure to keep detailed records of your cryptocurrency transactions to ensure accurate reporting.
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