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Does Binance report to the IRS?

At this time, Binance.com is not operating within the United States and as a result, Binance.com does not report to the IRS. American cryptocurrency users that want to access Binance can instead use Binance’s partner company, Binance.US. Does Binance.US report to the IRS?

Does Binance send a 1099 to the IRS?

Binance US sends a copy of this Binance US 1099 to the IRS as well. The 1099-MISC form includes the user's name, address, tax identification number, and the amount of income earned. The IRS requires US taxpayers to report gains and losses earned from crypto on their annual tax return, using Form Sch D (Form 1040).

Do I need a Binance US transaction history?

Although you only need to report on a single financial year in your tax return - you’ll still need all your Binance US transaction history, for however long you’ve been using the account for. This is so you (or the crypto tax app you’re using) can calculate your cost basis and subsequent short-term and long-term capital gains and losses correctly.

How do I get Started with my Binance US tax?

To get started with your Binance US tax, you need your complete Binance US transaction history. You’ll find your Binance US transaction history, unsurprisingly, in your Binance US account. There’s two ways you can get this: Use the Binance US API.

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