What is the difference between 1099 b and 1099 div in the context of cryptocurrency investments?

3 answers

• Hammad WahabDec 25, 2024 · 7 months ago
  The difference between 1099 b and 1099 div in the context of cryptocurrency investments lies in the type of income they report. 1099 b is used to report proceeds from broker and barter exchange transactions, while 1099 div is used to report dividends and distributions. In the case of cryptocurrency investments, if you sell or exchange your cryptocurrencies through a broker or barter exchange, you will receive a 1099 b form. This form will provide information about the proceeds from those transactions, including the cost basis and any gains or losses. On the other hand, if you receive dividends or distributions from your cryptocurrency investments, you may receive a 1099 div form. This form will report the amount of dividends or distributions you received. It's important to note that not all cryptocurrency transactions require these forms, and it's always a good idea to consult with a tax professional for accurate reporting.
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• Hector GorunOct 12, 2020 · 5 years ago
  Alright, let me break it down for you. 1099 b is like the report card for your cryptocurrency transactions through brokers or barter exchanges. It tells you how much money you made or lost from those transactions. On the other hand, 1099 div is more like the report card for the dividends and distributions you received from your cryptocurrency investments. It shows you how much money you got from those investments. So, if you're buying and selling cryptocurrencies through a broker or barter exchange, you'll get a 1099 b. If you're getting dividends or distributions from your cryptocurrency investments, you'll get a 1099 div. Make sure to keep track of these forms and report the information accurately when filing your taxes.
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• Oscar MaiaMar 17, 2022 · 3 years ago
  When it comes to cryptocurrency investments, 1099 b and 1099 div are two forms that you may come across. 1099 b is used to report the proceeds from broker and barter exchange transactions, while 1099 div is used to report dividends and distributions. If you sell or exchange your cryptocurrencies through a broker or barter exchange, you will receive a 1099 b form that will provide information about the proceeds from those transactions. This form will include details such as the cost basis and any gains or losses. On the other hand, if you receive dividends or distributions from your cryptocurrency investments, you may receive a 1099 div form that will report the amount of dividends or distributions you received. It's important to keep track of these forms and report the information accurately when filing your taxes to ensure compliance with tax regulations.
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