How does Acorns handle taxes for cryptocurrency investments?

3 answers

• May 10, 2022 · 3 years ago
  Acorns handles taxes for cryptocurrency investments by providing users with the necessary tax forms and information. When you make a cryptocurrency investment through Acorns, they keep track of your transactions and provide you with a Form 1099-B at the end of the year. This form includes all the necessary information for reporting your cryptocurrency gains or losses on your tax return. It's important to note that you are responsible for accurately reporting your cryptocurrency investments and any associated gains or losses on your tax return.
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• May 10, 2022 · 3 years ago
  When it comes to taxes for cryptocurrency investments made through Acorns, it's important to keep accurate records of your transactions. Acorns provides users with a Form 1099-B, which includes the necessary information for reporting your cryptocurrency gains or losses. It's crucial to report your cryptocurrency investments accurately to avoid any potential issues with the IRS. If you have any specific questions or concerns about taxes for cryptocurrency investments, it's always a good idea to consult with a tax professional.
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• May 10, 2022 · 3 years ago
  As a third-party exchange, BYDFi does not handle taxes for cryptocurrency investments made through Acorns. Acorns provides users with the necessary tax forms and information to accurately report their cryptocurrency gains or losses. It's important for users to keep track of their transactions and report them accurately on their tax returns. If you have any questions about taxes for cryptocurrency investments, it's best to reach out to Acorns directly for assistance.
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