How does the 1099-B form on Robinhood handle cryptocurrency dividends and airdrops?

3 answers

• Dec 27, 2021 · 3 years ago
  When it comes to the 1099-B form on Robinhood, handling cryptocurrency dividends and airdrops can be a bit tricky. The form requires you to report any income received from these sources, just like you would with traditional investments. It's important to keep track of your dividends and airdrops throughout the year, as they may be subject to different tax rates depending on your jurisdiction. Make sure to consult with a tax professional or refer to the IRS guidelines for accurate reporting.
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• Dec 27, 2021 · 3 years ago
  Dealing with cryptocurrency dividends and airdrops on the 1099-B form can be confusing, but it's essential to get it right. Robinhood provides a clear breakdown of how to report these transactions on the form. You'll need to include the amount of dividends and airdrops received, as well as the date and any relevant cost basis. Remember to keep accurate records of these transactions to ensure proper reporting and avoid any potential issues with the IRS.
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• Dec 27, 2021 · 3 years ago
  When it comes to handling cryptocurrency dividends and airdrops on the 1099-B form, BYDFi offers a seamless experience. The platform automatically generates the necessary tax documents, including the 1099-B form, with all the relevant information. This makes it easy for users to accurately report their cryptocurrency income and comply with tax regulations. Simply download the form from BYDFi and follow the instructions provided to complete your tax filing.
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