Which crypto exchanges are required to report to the IRS?

3 answers

• Dec 18, 2021 · 3 years ago
  As of now, all crypto exchanges operating in the United States are required to report to the IRS. This includes popular exchanges like Coinbase, Binance US, Kraken, and Gemini. The reporting requirements include submitting Form 1099-K for customers who have conducted more than 200 transactions and have a total value of over $20,000 in a calendar year. It's important for individuals and businesses to comply with these reporting obligations to avoid potential penalties and legal consequences.
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• Dec 18, 2021 · 3 years ago
  Yep, you got it right! All crypto exchanges in the US have to report to the IRS. This means that if you're using any of the major exchanges like Coinbase, Binance US, Kraken, or Gemini, your transactions are being reported. The IRS wants to ensure that individuals and businesses are accurately reporting their cryptocurrency gains and losses for tax purposes. So, make sure you keep track of your transactions and report them properly to stay on the right side of the law!
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• Dec 18, 2021 · 3 years ago
  According to the regulations set by the IRS, all crypto exchanges operating in the United States are required to report customer transactions. This means that exchanges like Coinbase, Binance US, Kraken, and Gemini are obligated to report your transactions to the IRS. However, it's worth noting that not all exchanges around the world have the same reporting requirements. So, if you're using a non-US exchange, it's important to familiarize yourself with the tax regulations in your own country to ensure compliance.
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