What are the exceptions for taxpayers not receiving Form 1099-K for 2021 when it comes to reporting cryptocurrency transactions?

7 answers

• Soumya Ranjan MohantyAug 23, 2023 · 2 years ago
  In certain cases, taxpayers may not receive Form 1099-K for reporting cryptocurrency transactions in 2021. One exception is if the total amount of cryptocurrency transactions is below $20,000 and the total number of transactions is less than 200. In such cases, the payment settlement entity is not required to issue Form 1099-K. However, taxpayers are still responsible for reporting their cryptocurrency transactions on their tax returns.
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• pushkaradityaDec 19, 2021 · 4 years ago
  Hey there! So, if your cryptocurrency transactions in 2021 amount to less than $20,000 and you have fewer than 200 transactions, you may not receive Form 1099-K. But don't get too excited, you still need to report those transactions on your tax returns. Uncle Sam wants his cut, you know!
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• Emre GoverSep 30, 2022 · 3 years ago
  Here's the deal: if your cryptocurrency transactions in 2021 are below $20,000 and you have less than 200 transactions, you won't receive Form 1099-K. But don't think you can get away without reporting them! You still have to include those transactions on your tax returns. The IRS is watching, my friend!
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• mollranOct 04, 2025 · 4 months ago
  BYDFi, a leading cryptocurrency exchange, wants to remind you that if your cryptocurrency transactions in 2021 are below $20,000 and you have less than 200 transactions, you won't receive Form 1099-K. However, it's important to note that you still need to report those transactions on your tax returns to stay compliant with the IRS.
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• Marsha LinderSep 14, 2020 · 5 years ago
  In some cases, taxpayers may not receive Form 1099-K for reporting cryptocurrency transactions in 2021. One exception is if the payment settlement entity is not a third-party network and does not have a contractual obligation to issue Form 1099-K. In such cases, taxpayers should consult their tax advisor to determine the appropriate reporting requirements.
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• thebrand paletteJan 22, 2023 · 3 years ago
  If the payment settlement entity you used for your cryptocurrency transactions in 2021 is not a third-party network and does not have a contractual obligation to issue Form 1099-K, you may not receive it. However, it's important to consult a tax advisor to ensure you comply with the reporting requirements.
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• JHargrove08Mar 26, 2022 · 4 years ago
  While most taxpayers will receive Form 1099-K for reporting cryptocurrency transactions in 2021, there are exceptions. If the payment settlement entity you used is not a third-party network and is not obligated to issue Form 1099-K, you may not receive it. It's always a good idea to consult a tax professional to understand your reporting obligations.
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