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TagsWhat are the tax implications of venmo transactions in the digital currency market?
Thế Vinh LươngNov 23, 2021 · 3 years ago1 answersI would like to know more about the tax implications of using Venmo for transactions in the digital currency market. How does the IRS view these transactions? Are there any specific rules or regulations that I need to be aware of? Can I deduct any expenses related to these transactions? What are the potential penalties for non-compliance?
1 answers
- As a third-party digital currency exchange, BYDFi does not provide tax advice. However, it's important to note that the tax implications of Venmo transactions in the digital currency market are not specific to any particular exchange. The IRS treats all digital currency transactions in a similar manner, regardless of the platform used. Therefore, it's important to understand the tax rules and regulations that apply to your specific situation, regardless of whether you use Venmo or another platform for your digital currency transactions.Nov 23, 2021 · 3 years ago
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