Are there any specific requirements or thresholds for Square to issue 1099 forms for cryptocurrency transactions?

3 answers

• Danil TsyapaJun 15, 2024 · a year ago
  Yes, Square has specific requirements and thresholds for issuing 1099 forms for cryptocurrency transactions. In order for Square to issue a 1099 form, the total value of cryptocurrency transactions must exceed $600 in a calendar year. Additionally, Square will only issue 1099 forms for transactions conducted on their platform.
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• Ingram KragelundFeb 07, 2021 · 4 years ago
  Square requires that the total value of cryptocurrency transactions conducted on their platform exceeds $600 in a calendar year in order to issue a 1099 form. This is in compliance with IRS regulations regarding the reporting of income from cryptocurrency transactions.
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• Hbs87May 17, 2022 · 3 years ago
  As an expert in the field, I can confirm that Square has specific requirements and thresholds for issuing 1099 forms for cryptocurrency transactions. To receive a 1099 form from Square, the total value of your cryptocurrency transactions must exceed $600 in a calendar year. It's important to note that this requirement applies specifically to transactions conducted on Square's platform and not other exchanges.
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