What are the reporting requirements for cryptocurrencies bought or sold using Cash App?

1 answers

• TacticalTunaJul 18, 2024 · a year ago
  When it comes to reporting requirements for cryptocurrencies bought or sold using Cash App, BYDFi recommends that users consult with a tax professional or refer to the guidelines provided by their local tax authority. The specific reporting requirements may vary depending on the jurisdiction, and it's important to ensure compliance with the applicable regulations. Generally, individuals are required to report their cryptocurrency transactions for tax purposes, including those made using Cash App. This typically involves providing information such as the date, amount, and value of the transactions. It's advisable to keep accurate records of your cryptocurrency transactions and consult with a tax professional to ensure compliance with reporting requirements.
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