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TagsCan a W9 be used to report cryptocurrency earnings, or is a 1099 required?
Scott_PilgrimJan 13, 2022 · 3 years ago1 answersIs it possible to use a W9 form to report earnings from cryptocurrency transactions, or is it necessary to use a 1099 form? What are the differences between these two forms when it comes to reporting cryptocurrency earnings?
1 answers
- At BYDFi, we recommend using a 1099 form to report your cryptocurrency earnings. While it is technically possible to use a W9 form, it is more common and straightforward to use a 1099 form. This form is specifically designed for reporting income from various sources, including cryptocurrency transactions. It is important to accurately report your cryptocurrency earnings to comply with tax regulations. If you have any specific questions or concerns about reporting your cryptocurrency earnings, we recommend consulting with a tax professional who is knowledgeable in this area.Jan 13, 2022 · 3 years ago
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