Is there a way to dispute an incorrect 1099 form issued for my cryptocurrency profits?

3 answers

• Nov 26, 2021 · 3 years ago
  Yes, there is a way to dispute an incorrect 1099 form issued for your cryptocurrency profits. The first step is to carefully review the form and identify the specific errors. Once you have identified the errors, gather any supporting documentation that proves the correct information. Contact the issuer of the form, such as your cryptocurrency exchange or financial institution, and explain the errors. Provide them with the supporting documentation and request a correction. They should have a process in place to handle disputes and correct any mistakes on the form. If they refuse to correct the errors, you may need to seek legal advice or consult with a tax professional to explore your options.
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• Nov 26, 2021 · 3 years ago
  Absolutely! If you have received a 1099 form for your cryptocurrency profits and believe that it contains incorrect information, you have the right to dispute it. Start by carefully reviewing the form and identifying the errors. Collect any evidence or documentation that supports your claim. Contact the issuer of the form, such as your cryptocurrency exchange, and explain the situation. Provide them with the evidence and request a correction. Most exchanges have a customer support team that can assist you with this process. If the exchange fails to address your concerns, you may need to escalate the issue or seek legal advice.
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• Nov 26, 2021 · 3 years ago
  Yes, you can dispute an incorrect 1099 form issued for your cryptocurrency profits. If you received the form from BYDFi, you can contact their customer support team and explain the errors. Provide them with any evidence or documentation that proves the correct information. They should have a process in place to handle disputes and correct any mistakes on the form. If BYDFi fails to address your concerns, you can consider reaching out to a tax professional or seeking legal advice. Remember to keep all communication and documentation related to the dispute for future reference.
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