Questions tagged [form 1099-misc]

CryptoBaron Sun Nov 24 2024 | 0 answers 0

I am wondering if Coinbase reports income from Ethereum staking on the Form 1099-MISC for tax purposes.

Valentina Sun Sep 29 2024 | 5 answers 1062

Excuse me, I'm a bit unclear about a specific matter related to cryptocurrency taxation. Could you please clarify whether Coinbase, as a popular cryptocurrency exchange platform, is obligated to report any rewards earned through wallet quests or similar activities on the Form 1099-MISC? This information is crucial for me to ensure accurate tax reporting on my cryptocurrency holdings and transactions. I'd appreciate it if you could elaborate on the matter in a concise manner. Thank you in advance for your assistance.

EchoChaser Wed Aug 28 2024 | 7 answers 1617

Excuse me, could you please elaborate on when cryptocurrency exchanges typically issue Form 1099-MISC? Is there a specific time of year when they're obligated to send out these forms to their users? And for those who engage in crypto transactions, is it essential to keep track of their earnings in order to receive this form or are there other ways to ensure compliance with tax regulations? Thank you for your time.

benjamin_doe_philosopher Sat Jun 08 2024 | 7 answers 1561

Does the IRS keep tabs on Binance? I've heard rumors that Binance submits reports to the Internal Revenue Service, but is this actually the case? Given that Binance has ceased operations in the United States, does this mean they're no longer accountable to the IRS? However, Binance's American subsidiary, Binance.US, reportedly issues Form 1099-MISC to their customers. Does this suggest that Binance.US is the only entity required to report to the IRS, while Binance itself likely escapes IRS scrutiny? Could you clarify this matter for me?