How can I file 1099-B for free when dealing with digital currencies?

3 answers

• Dec 16, 2021 · 3 years ago
  One way to file 1099-B for free when dealing with digital currencies is to use online tax software that offers free filing options. Many popular tax software providers, such as TurboTax and H&R Block, offer free versions that include support for reporting cryptocurrency transactions. These software platforms guide you through the process of filling out the 1099-B form and ensure that you accurately report your digital currency transactions. Just make sure to choose the free version when signing up for the software.
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• Dec 16, 2021 · 3 years ago
  If you prefer a more hands-on approach, you can manually fill out the 1099-B form yourself and submit it to the IRS. The IRS provides instructions and a downloadable PDF version of the form on their official website. However, keep in mind that accurately reporting digital currency transactions can be complex, so it's important to thoroughly understand the requirements and consult with a tax professional if needed. Additionally, double-check your calculations and ensure that you include all necessary information to avoid any potential issues with the IRS.
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• Dec 16, 2021 · 3 years ago
  At BYDFi, we understand the importance of accurately filing 1099-B forms for digital currency transactions. While we don't offer free filing services ourselves, we recommend utilizing online tax software or consulting with a tax professional to ensure that you comply with the IRS regulations. Filing taxes correctly is crucial for maintaining a good standing with the IRS and avoiding any potential penalties or audits. Remember to keep detailed records of your digital currency transactions and report them accurately on your 1099-B form.
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