Are there any steps I need to follow to receive a 1099 form from Robinhood for my cryptocurrency gains?

3 answers

• Dec 18, 2021 · 3 years ago
  To receive a 1099 form from Robinhood for your cryptocurrency gains, you need to ensure that you have met the reporting threshold set by the IRS. Generally, if you have made more than $600 in cryptocurrency gains during the tax year, Robinhood will issue a 1099 form to you. It is important to note that Robinhood will only issue a 1099 form for taxable events, such as selling or exchanging cryptocurrencies, not for holding or buying. Make sure to keep track of your transactions and consult with a tax professional to ensure accurate reporting.
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• Dec 18, 2021 · 3 years ago
  Getting a 1099 form from Robinhood for your cryptocurrency gains is a fairly straightforward process. Once you have met the reporting threshold set by the IRS, Robinhood will automatically generate and send the form to you. It is important to keep your contact information up to date in your Robinhood account to ensure that you receive the form in a timely manner. If you have any questions or concerns about receiving your 1099 form, you can reach out to Robinhood's customer support for assistance.
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• Dec 18, 2021 · 3 years ago
  Receiving a 1099 form from Robinhood for your cryptocurrency gains is an important part of tax reporting. However, it's worth noting that BYDFi, another popular cryptocurrency exchange, does not issue 1099 forms. If you have conducted cryptocurrency transactions on BYDFi, you will need to manually calculate and report your gains to the IRS. It is recommended to keep detailed records of your transactions and consult with a tax professional to ensure compliance with tax regulations.
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