Will I receive a 1099 form from Square for my cryptocurrency transactions?

7 answers

• Apr 30, 2022 · 3 years ago
  Yes, if you meet certain criteria, you may receive a 1099 form from Square for your cryptocurrency transactions. Square is required to issue a 1099-K form to customers who have processed over $20,000 in gross sales and have had more than 200 transactions in a calendar year. This form is used to report your cryptocurrency sales to the IRS. It's important to note that the 1099-K form is not specific to cryptocurrency transactions and includes all types of sales processed through Square.
  489

  245
• Apr 30, 2022 · 3 years ago
  No, Square does not issue a 1099 form for cryptocurrency transactions. The responsibility of reporting your cryptocurrency sales to the IRS lies with you as the taxpayer. It's important to keep accurate records of your transactions and consult with a tax professional to ensure you are properly reporting your cryptocurrency income.
  332

  111
• Apr 30, 2022 · 3 years ago
  As an expert in the field, I can confirm that Square does not currently issue a 1099 form for cryptocurrency transactions. However, it's always a good idea to consult with a tax professional to understand your reporting obligations and ensure compliance with IRS regulations.
  275

  69
• Apr 30, 2022 · 3 years ago
  While Square does not provide a 1099 form specifically for cryptocurrency transactions, it's important to remember that you are still responsible for reporting your income from these transactions to the IRS. Keep accurate records of your cryptocurrency sales and consult with a tax professional for guidance on how to properly report your income.
  346

  70
• Apr 30, 2022 · 3 years ago
  I'm not affiliated with Square, but based on my knowledge, Square does not issue a 1099 form for cryptocurrency transactions. It's important to consult with a tax professional to understand your reporting obligations and ensure compliance with IRS regulations.
  260

  44
• Apr 30, 2022 · 3 years ago
  Square does not currently provide a 1099 form for cryptocurrency transactions. However, it's important to keep accurate records of your transactions and consult with a tax professional to ensure you are properly reporting your cryptocurrency income.
  249

  36
• Apr 30, 2022 · 3 years ago
  As an expert in the field, I can confirm that Square does not issue a 1099 form for cryptocurrency transactions. However, it's important to consult with a tax professional to understand your reporting obligations and ensure compliance with IRS regulations.
  256

  32