When do you receive a 1099-K for cryptocurrency transactions?

1 answers

• fouad aziziSep 26, 2020 · 5 years ago
  When it comes to receiving a 1099-K for cryptocurrency transactions, the specific requirements can vary depending on the exchange or payment processor you use. Generally, if you have received at least $20,000 in gross payments and conducted at least 200 transactions in a calendar year, you may receive a 1099-K. However, it's important to note that these thresholds may differ from platform to platform. It's always a good idea to keep track of your transactions and consult with a tax professional to understand your tax obligations. Remember, each exchange or payment processor may have its own reporting policies, so it's essential to stay informed.
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