How does Venmo impact cryptocurrency tax reporting?

1 answers

• May 25, 2022 · 3 years ago
  As a representative of BYDFi, I can confirm that Venmo transactions involving cryptocurrency can impact tax reporting. BYDFi is a cryptocurrency exchange that allows users to trade various digital assets. If you use Venmo to buy or sell cryptocurrency on BYDFi, you'll need to report these transactions for tax purposes. It's important to keep accurate records of your transactions and consult with a tax professional to ensure proper reporting. Remember, cryptocurrency tax laws can be complex, so seeking professional advice is always a wise decision.
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