Maria
Thu Aug 29 2024
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5 answers
1021
Do crypto exchanges need a 1099?
As a cryptocurrency enthusiast and investor, I'm curious about the tax implications of using crypto exchanges. Specifically, do crypto exchanges need to issue a 1099 form to their users for tax reporting purposes? If so, what kind of transactions or activities would trigger the need for a 1099, and how does this process work? Additionally, what are the potential consequences for crypto exchange users who fail to properly report their transactions and income on their taxes?
