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Which states have the highest 1099-k threshold for cryptocurrency transactions?

avatarAmar Jeet SinghNov 24, 2021 · 3 years ago1 answers

Can you provide information on which states in the United States have the highest 1099-k threshold for reporting cryptocurrency transactions? I am interested in knowing the specific states that have set a higher threshold for reporting cryptocurrency transactions on Form 1099-k.

Which states have the highest 1099-k threshold for cryptocurrency transactions?
Cryptocurrency
1099-k
Threshold

1 answers

  • avatarNov 24, 2021 · 3 years ago
    According to my research, California has the highest 1099-k threshold for cryptocurrency transactions in the United States. The threshold is set at $20,000 and 200 transactions. This means that if your cryptocurrency transactions in California exceed $20,000 or involve more than 200 transactions, you will be required to report them on Form 1099-k. Other states with higher thresholds include Texas, Florida, and New York. It's worth noting that these thresholds may change over time, so it's important to stay informed about the latest regulations in your state.

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