How does Robinhood handle 1099-INT forms for cryptocurrency earnings?
melek gomriApr 30, 2022 · 3 years ago3 answers
Can you explain how Robinhood deals with 1099-INT forms for earnings from cryptocurrency?
3 answers
- Apr 30, 2022 · 3 years agoRobinhood does not currently provide 1099-INT forms for cryptocurrency earnings. As of now, they only provide 1099-B forms for reporting cryptocurrency transactions. It's important to consult with a tax professional to understand how to report your cryptocurrency earnings properly.
- Apr 30, 2022 · 3 years agoWhen it comes to 1099-INT forms for cryptocurrency earnings, Robinhood does not handle them directly. However, you can export your transaction history from Robinhood and use it to calculate your earnings for tax purposes. Make sure to consult with a tax professional for accurate reporting.
- Apr 30, 2022 · 3 years agoAs a representative of BYDFi, I can tell you that BYDFi does not handle 1099-INT forms for cryptocurrency earnings either. Similar to Robinhood, BYDFi provides 1099-B forms for reporting cryptocurrency transactions. It's always recommended to seek professional tax advice when dealing with cryptocurrency earnings.
Related Tags
Hot Questions
- 96
What are the advantages of using cryptocurrency for online transactions?
- 92
How can I buy Bitcoin with a credit card?
- 83
What is the future of blockchain technology?
- 81
How can I minimize my tax liability when dealing with cryptocurrencies?
- 76
How does cryptocurrency affect my tax return?
- 48
Are there any special tax rules for crypto investors?
- 45
What are the best practices for reporting cryptocurrency on my taxes?
- 38
How can I protect my digital assets from hackers?