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Cryptocurrency transactions or digital asset transactions are reported on different forms depending upon the nature of the transaction.
Many transactions involving a digital asset are generally required to be reported on a tax return. Different tax forms are used based upon the nature of the transaction.
Taxable income, gain or loss may result from transactions including, but not limited to:
What kind of cryptocurrency transaction did you engage in?
IRS Form 1099-K is a report of payments you got for goods or services during the year from:
These organizations are required to fill out IRS Form 1099-K and send copies to the IRS and to you.
There are third parties who settle payments made in virtual currency on behalf of merchants that accept virtual currency from their customers. These third parties are required to report payments to those merchants on IRS Form 1099-K, Payment Card and Third Party Network Transactions. Is this what you are referring to?
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