Is Venmo required to report cryptocurrency transactions to the IRS for tax purposes?

22 answers

• dqwfMay 02, 2023 · 2 years ago
  Yes, cryptocurrency transactions made through Venmo need to be reported to the IRS for tax purposes. The IRS treats cryptocurrency as property, so any gains or losses from cryptocurrency transactions are subject to taxation. It's important to keep track of your cryptocurrency transactions and report them accurately on your tax return.
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• Francisco EmersonApr 05, 2023 · 2 years ago
  Absolutely! The IRS requires individuals to report all cryptocurrency transactions, including those made through Venmo, for tax purposes. Failure to report cryptocurrency transactions can result in penalties and legal consequences. Make sure to consult a tax professional or use tax software to accurately report your cryptocurrency transactions.
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• Collins AgofureMay 04, 2022 · 3 years ago
  According to the IRS guidelines, cryptocurrency transactions made through Venmo are indeed required to be reported for tax purposes. The IRS has been cracking down on cryptocurrency tax evasion, so it's crucial to comply with the reporting requirements. If you're unsure about how to report your cryptocurrency transactions, consider seeking guidance from a tax professional.
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• LiuNov 12, 2021 · 4 years ago
  When it comes to cryptocurrency transactions, the IRS doesn't discriminate based on the platform used. Whether you make cryptocurrency transactions through Venmo or any other platform, you are required to report them to the IRS for tax purposes. The IRS has been actively working to ensure compliance in the cryptocurrency space.
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• Sharad ShresthaFeb 07, 2021 · 5 years ago
  BYDFi, a leading cryptocurrency exchange, recommends that users report all cryptocurrency transactions made through Venmo to the IRS for tax purposes. The IRS has been increasing its focus on cryptocurrency taxation, and it's important to stay compliant. BYDFi provides resources and tools to help users accurately report their cryptocurrency transactions.
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• darknightzmMay 27, 2023 · 2 years ago
  Yes, Venmo is required to report cryptocurrency transactions to the IRS for tax purposes. The IRS has been actively working with various platforms to ensure compliance in the cryptocurrency space. It's important for individuals to understand their tax obligations and report their cryptocurrency transactions accordingly.
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• Daniyal AnjumOct 17, 2021 · 4 years ago
  Cryptocurrency transactions made through Venmo are subject to the same tax reporting requirements as transactions made through other platforms. The IRS treats cryptocurrency as property, and any gains or losses from these transactions need to be reported on your tax return. Make sure to keep accurate records of your cryptocurrency transactions.
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• Anon93474356May 14, 2023 · 2 years ago
  The IRS requires individuals to report all cryptocurrency transactions, regardless of the platform used. This includes transactions made through Venmo. It's important to understand the tax implications of your cryptocurrency activities and report them accurately to the IRS.
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• MaybetsJul 07, 2025 · 2 months ago
  While Venmo itself may not directly report cryptocurrency transactions to the IRS, individuals are still required to report these transactions for tax purposes. The responsibility lies with the taxpayer to accurately report their cryptocurrency activities, including those conducted through Venmo.
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• Ali GrichJun 13, 2025 · 3 months ago
  Cryptocurrency transactions made through Venmo are subject to the same tax reporting requirements as transactions made through other platforms. The IRS has been actively working to ensure compliance in the cryptocurrency space, so it's important to report your transactions accurately.
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• pascal545Sep 07, 2021 · 4 years ago
  Yes, Venmo is required to report cryptocurrency transactions to the IRS for tax purposes. The IRS has been increasing its efforts to track and tax cryptocurrency transactions, and it's important for individuals to comply with the reporting requirements.
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• Bhajarangi JaiJan 11, 2023 · 3 years ago
  The IRS treats cryptocurrency transactions made through Venmo the same as transactions made through other platforms. It's important to keep accurate records of your cryptocurrency transactions and report them on your tax return.
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• BHOOMIKA KMFeb 18, 2021 · 5 years ago
  Cryptocurrency transactions made through Venmo are subject to taxation and need to be reported to the IRS. It's important to understand the tax implications of your cryptocurrency activities and consult a tax professional if needed.
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• Fraol DemisseNov 20, 2024 · 10 months ago
  Yes, Venmo is required to report cryptocurrency transactions to the IRS for tax purposes. The IRS has been actively working to ensure compliance in the cryptocurrency space, and individuals should report their transactions accurately.
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• Lehman PallesenApr 06, 2023 · 2 years ago
  The IRS requires individuals to report all cryptocurrency transactions, including those made through Venmo, for tax purposes. It's important to keep track of your cryptocurrency activities and report them accurately to avoid any potential issues with the IRS.
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• Bille LeachJul 25, 2024 · a year ago
  Cryptocurrency transactions made through Venmo are subject to taxation, and individuals are required to report them to the IRS. It's important to stay compliant with the tax regulations and accurately report your cryptocurrency transactions.
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• Spencer ApeadjeiFeb 01, 2025 · 7 months ago
  Yes, Venmo is required to report cryptocurrency transactions to the IRS for tax purposes. The IRS has been actively working to ensure compliance in the cryptocurrency space, and it's important for individuals to fulfill their tax obligations.
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• Ela BougdarJul 12, 2024 · a year ago
  The IRS treats cryptocurrency transactions made through Venmo the same as transactions made through other platforms. Make sure to report your cryptocurrency transactions accurately to avoid any potential issues with the IRS.
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• Simone_CherryMay 11, 2024 · a year ago
  Cryptocurrency transactions made through Venmo are subject to taxation, and individuals need to report them to the IRS. It's important to understand the tax rules surrounding cryptocurrency and accurately report your transactions.
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• Dibyendu MandalAug 02, 2024 · a year ago
  Yes, Venmo is required to report cryptocurrency transactions to the IRS for tax purposes. The IRS has been increasing its scrutiny on cryptocurrency activities, and individuals should report their transactions accurately to avoid any potential penalties.
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• prabhudharan tSep 21, 2024 · a year ago
  The IRS requires individuals to report all cryptocurrency transactions, regardless of the platform used. This includes transactions made through Venmo. Make sure to accurately report your cryptocurrency activities to comply with the tax regulations.
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• Sangeeth Thanga DharsanJun 20, 2023 · 2 years ago
  Cryptocurrency transactions made through Venmo are subject to taxation, and individuals are required to report them to the IRS. It's important to stay compliant with the tax laws and accurately report your cryptocurrency transactions.
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