Are there any specific guidelines for filling out form 1099-b for cryptocurrency investments?

1 answers

• Nilaaam 2ndDec 22, 2021 · 4 years ago
  As a third-party cryptocurrency exchange, BYDFi does not provide specific guidelines for filling out form 1099-b for cryptocurrency investments. However, there are some general guidelines that can be followed. When filling out form 1099-b, you need to report each individual cryptocurrency transaction separately, including the date, type of cryptocurrency, and the amount of cryptocurrency bought or sold. You also need to report the cost basis and the fair market value of the cryptocurrency at the time of the transaction. It's important to keep accurate records of all your cryptocurrency transactions and consult with a tax professional or refer to the IRS guidelines for more detailed instructions.
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