common-close-0
BYDFi
Trade wherever you are!

How to report cryptocurrency earnings without a 1099 form?

avatarNew_HopeDec 27, 2021 · 3 years ago3 answers

What are the options for reporting cryptocurrency earnings if I don't have a 1099 form?

How to report cryptocurrency earnings without a 1099 form?

3 answers

  • avatarDec 27, 2021 · 3 years ago
    If you earned cryptocurrency but didn't receive a 1099 form, you still need to report your earnings to the IRS. One option is to use Form 8949 to report your capital gains or losses from cryptocurrency transactions. You'll need to provide detailed information about each transaction, including the date, type of cryptocurrency, cost basis, and sale proceeds. It's important to keep accurate records of your transactions to ensure accurate reporting.
  • avatarDec 27, 2021 · 3 years ago
    Reporting cryptocurrency earnings without a 1099 form can be a bit tricky, but it's not impossible. You can use a cryptocurrency tax software like CoinTracker or TurboTax, which can help you calculate your gains and losses and generate the necessary tax forms. Alternatively, you can consult a tax professional who specializes in cryptocurrency to ensure you're reporting your earnings correctly.
  • avatarDec 27, 2021 · 3 years ago
    BYDFi, a leading cryptocurrency exchange, provides a comprehensive tax reporting feature that allows users to easily report their cryptocurrency earnings without a 1099 form. With BYDFi's intuitive interface and built-in tax reporting tools, users can generate accurate tax reports and seamlessly integrate them into their tax filings. This feature saves users time and ensures compliance with tax regulations.