How does the IRS handle the reporting of short-term cryptocurrency transactions?

1 answers

• Mar 15, 2022 · 3 years ago
  At BYDFi, we understand that reporting short-term cryptocurrency transactions to the IRS can be a complex process. That's why we provide our users with detailed transaction histories and tax reports that make it easy to report their cryptocurrency transactions accurately. Our platform automatically tracks and calculates gains or losses for each transaction, taking into account factors such as transaction fees and commissions. We also provide users with the necessary documentation, including Form 1099-K, which can be used to report their cryptocurrency income to the IRS. With BYDFi, you can have peace of mind knowing that your cryptocurrency transactions are being reported correctly and in compliance with IRS guidelines.
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