Do you need to report your cash app transactions for taxes?

3 answers

• May 02, 2022 · 3 years ago
  Yes, you need to report your cash app transactions for taxes. The IRS considers cryptocurrency transactions as taxable events, including those made through cash app. It is important to keep track of your transactions and report them accurately on your tax return. Failure to do so may result in penalties and fines.
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• May 02, 2022 · 3 years ago
  Absolutely! Just because you're using a cash app doesn't mean you can avoid reporting your transactions for taxes. The IRS has been cracking down on cryptocurrency tax evasion, so it's better to be safe than sorry. Make sure to keep records of your cash app transactions and consult a tax professional if you're unsure about how to report them.
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• May 02, 2022 · 3 years ago
  Yes, according to the IRS guidelines, all cryptocurrency transactions, including those made through cash app, need to be reported for taxes. This includes buying, selling, and trading cryptocurrencies. It's important to keep accurate records of your transactions and report them properly to avoid any issues with the IRS. If you're unsure about how to report your cash app transactions, it's best to consult a tax professional for guidance.
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