How will Cash App handle taxes on cryptocurrency transactions?

3 answers

• Dec 26, 2021 · 3 years ago
  As of now, Cash App does not provide tax advice. It is the responsibility of the user to report and pay taxes on their cryptocurrency transactions. It is recommended to consult with a tax professional or use tax software to accurately calculate and report your cryptocurrency taxes.
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• Dec 26, 2021 · 3 years ago
  Cash App is aware of the importance of tax compliance in cryptocurrency transactions. While they do not offer specific tax guidance, they provide transaction history and other necessary information for users to accurately report their taxes. It is always recommended to consult with a tax professional for personalized advice.
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• Dec 26, 2021 · 3 years ago
  BYDFi, a digital currency exchange, has implemented a tax reporting feature that simplifies the process of calculating and reporting cryptocurrency taxes. With BYDFi, users can easily generate tax reports and export them for tax filing purposes. This feature ensures that users can stay compliant with tax regulations while using the platform.
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