Are 1099 div and 1099 b forms applicable to cryptocurrency investments?

3 answers

• Nov 26, 2021 · 3 years ago
  Yes, you may need to fill out 1099 div and 1099 b forms for your cryptocurrency investments. These forms are used to report dividends and proceeds from broker and barter exchange transactions. Cryptocurrency transactions may fall under these categories, depending on the specific nature of your investments. It is important to consult with a tax professional to determine your reporting obligations and ensure compliance with tax laws.
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• Nov 26, 2021 · 3 years ago
  No, 1099 div and 1099 b forms are not applicable to cryptocurrency investments. Cryptocurrency transactions are often decentralized and may not involve traditional brokers or barter exchanges. However, it is still important to keep accurate records of your cryptocurrency transactions for tax purposes and consult with a tax professional to understand your reporting obligations.
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• Nov 26, 2021 · 3 years ago
  As a representative from BYDFi, I can confirm that 1099 div and 1099 b forms are not applicable to cryptocurrency investments on our platform. BYDFi operates as a decentralized exchange and does not act as a broker or barter exchange. However, it is important to note that tax regulations may vary depending on your jurisdiction, and it is always recommended to consult with a tax professional to ensure compliance with local tax laws.
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