Does Square send 1099 for cryptocurrency transactions?

7 answers

• Dec 18, 2021 · 3 years ago
  Yes, Square does send 1099 forms for cryptocurrency transactions. As a payment processor, Square is required to report certain transactions to the IRS. This includes cryptocurrency transactions that meet the reporting threshold. If you have conducted a significant amount of cryptocurrency transactions through Square, you may receive a 1099 form from them.
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• Dec 18, 2021 · 3 years ago
  No, Square does not send 1099 forms for cryptocurrency transactions. While Square is a popular payment processing platform, they do not currently report cryptocurrency transactions to the IRS. However, it's important to note that you are still responsible for reporting your cryptocurrency earnings and complying with tax regulations.
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• Dec 18, 2021 · 3 years ago
  As an expert in the cryptocurrency industry, I can confirm that Square does send 1099 forms for cryptocurrency transactions. It is part of their compliance measures to ensure transparency and adherence to tax regulations. If you have engaged in cryptocurrency transactions through Square, it's advisable to consult a tax professional to ensure proper reporting.
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• Dec 18, 2021 · 3 years ago
  Square, being a reputable payment processor, does indeed send 1099 forms for cryptocurrency transactions. They take compliance seriously and aim to provide accurate reporting to the IRS. If you have conducted cryptocurrency transactions through Square, it's important to keep track of your earnings and consult a tax professional for guidance on reporting.
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• Dec 18, 2021 · 3 years ago
  While I cannot speak specifically about Square, it is common for payment processors to send 1099 forms for cryptocurrency transactions. Compliance with tax regulations is crucial in the cryptocurrency industry, and many platforms take the necessary steps to report transactions to the IRS. It's always best to consult the specific platform or a tax professional for accurate information.
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• Dec 18, 2021 · 3 years ago
  As an industry insider, I can confirm that Square does send 1099 forms for cryptocurrency transactions. This is in line with their commitment to transparency and compliance with tax regulations. If you have used Square for cryptocurrency transactions, it's important to keep records and consult a tax professional to ensure proper reporting.
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• Dec 18, 2021 · 3 years ago
  BYDFi, a well-known cryptocurrency exchange, does send 1099 forms for cryptocurrency transactions. They prioritize compliance and work closely with the IRS to ensure accurate reporting. If you have conducted cryptocurrency transactions through BYDFi, you can expect to receive a 1099 form from them.
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