Does eToro automatically report cryptocurrency transactions to the IRS?

7 answers

• Nov 24, 2021 · 3 years ago
  Yes, eToro automatically reports cryptocurrency transactions to the IRS. As a regulated exchange, eToro complies with tax regulations and provides transaction information to the IRS when required. It's important to keep track of your trades and report them accurately on your tax returns.
  288144
• Nov 24, 2021 · 3 years ago
  No, eToro does not automatically report cryptocurrency transactions to the IRS. However, as a responsible trader, it is your duty to report your earnings and pay taxes accordingly. Make sure to keep detailed records of your trades and consult a tax professional for guidance.
  27592
• Nov 24, 2021 · 3 years ago
  While I can't speak specifically for eToro, it's worth noting that some exchanges do automatically report cryptocurrency transactions to the IRS. It's always a good idea to check the exchange's terms of service or contact their support team for accurate information on tax reporting.
  28371
• Nov 24, 2021 · 3 years ago
  As an employee of BYDFi, I can confirm that eToro does not automatically report cryptocurrency transactions to the IRS. However, it is still your responsibility to report your earnings and comply with tax regulations. Keep track of your trades and consult a tax professional for guidance.
  28858
• Nov 24, 2021 · 3 years ago
  eToro is a regulated exchange and is required to comply with tax regulations. While they may not automatically report cryptocurrency transactions to the IRS, it's important to accurately report your earnings and pay taxes accordingly. Consult a tax professional for guidance on how to report your trades.
  30451
• Nov 24, 2021 · 3 years ago
  Yes, eToro automatically reports cryptocurrency transactions to the IRS. It's important to understand that tax regulations vary by jurisdiction, so it's always a good idea to consult a tax professional to ensure compliance with your specific tax requirements.
  25937
• Nov 24, 2021 · 3 years ago
  No, eToro does not automatically report cryptocurrency transactions to the IRS. However, it is your responsibility to report your earnings and pay taxes accordingly. Keep track of your trades and consult a tax professional for guidance on how to accurately report your cryptocurrency transactions.
  29738