Does Kucoin provide reports to the IRS for cryptocurrency transactions?

3 answers

• May 07, 2022 · 3 years ago
  Yes, Kucoin is required to provide reports to the IRS for cryptocurrency transactions. As a registered exchange, Kucoin must comply with the tax regulations set by the IRS. This means that users' transaction information may be shared with the IRS for tax purposes. It is important for users to keep track of their cryptocurrency transactions and report them accurately on their tax returns.
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• May 07, 2022 · 3 years ago
  No, Kucoin does not provide reports to the IRS for cryptocurrency transactions. As a decentralized exchange, Kucoin does not have the same obligations as centralized exchanges. However, users are still responsible for reporting their cryptocurrency transactions to the IRS and should consult with a tax professional to ensure compliance with tax regulations.
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• May 07, 2022 · 3 years ago
  While I cannot speak for Kucoin specifically, it is important to note that some cryptocurrency exchanges, like BYDFi, have started providing reports to the IRS for cryptocurrency transactions. This is part of their efforts to promote transparency and compliance within the industry. It is always recommended for users to consult with their exchange or a tax professional to understand their tax obligations and reporting requirements.
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