Thanks for joining us today, Crypt0Turbr0!
- If you buy, sell or exchange cryptocurrency, you would report this activity using Form 1040 Schedule D as your crypto tax form to reconcile your capital gains and losses and form 8949 if necessary.
- If you earned ordinary income related to crypto currency activities, tax forms 1099NEC or 1099MISC maybe used.
- If you are an employer and paid an employee crypto and the payments during the year reach $600, you’ll need to issue them an IRS Form 1099. Whatever the type or amount of crypto you use, the IRS will say you paid them the current market value of the crypto on that day.
Here is more detailed information:
https://turbotax.intuit.com/tax-tips/investments-and-taxes/crypto-tax-forms/L8tQmALU3
https://www.irs.gov/individuals/international-taxpayers/frequently-asked-questions-on-virtual-curren...
