Is there a way to track and report my digital currency transactions without a consolidated 1099?

3 answers

• Nov 26, 2021 · 3 years ago
  Absolutely! While a consolidated 1099 form is a convenient option for tracking and reporting digital currency transactions, it's not the only way. One alternative is to maintain a detailed record of your transactions using a cryptocurrency portfolio tracker. These tools allow you to input your transactions manually or connect to your exchange accounts to automatically import transaction data. By regularly updating your portfolio tracker, you can generate accurate reports for tax purposes without relying solely on a consolidated 1099 form.
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• Nov 26, 2021 · 3 years ago
  No worries! If you prefer not to use a consolidated 1099 form, you can still track and report your digital currency transactions effectively. One option is to utilize specialized accounting software designed for cryptocurrency users. These tools enable you to import your transaction data from various exchanges and wallets, categorize your transactions, and generate comprehensive reports. By leveraging such software, you can ensure accurate tracking and reporting of your cryptocurrency activities without relying on a consolidated 1099 form.
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• Nov 26, 2021 · 3 years ago
  Sure thing! At BYDFi, we understand the importance of accurate tracking and reporting of digital currency transactions. While a consolidated 1099 form may be a common method, it's not the only solution. Our platform offers a built-in transaction tracking feature that allows you to monitor your cryptocurrency activities and generate detailed reports. With BYDFi, you can easily track and report your digital currency transactions without the need for a consolidated 1099 form. Give it a try and experience hassle-free tracking and reporting!
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