Tax Agencies
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Crypto.com
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9 min read
Does Crypto.com Report to the IRS?
Cryptocurrency exchanges around the world are starting to report more and more information to government agencies. In this guide, we analyze Crypto.com’s tax reporting policies within United States. We’ll also break down a simple way to report your Crypto.com taxes in minutes.
Crypto.com sends Form 1099-MISC detailing taxable income from cryptocurrency to both customers and the IRS.Â
In the past, Crypto.com issued Form 1099-K to customers. However, this form caused confusion for both customers and tax authorities — and even led to warning letters being sent to customers who had accurately reported their taxes!Â
Yes. In the United States, your transactions on Crypto.com and other platforms are subject to income and capital gains tax.Â
If you’ve earned or disposed of crypto (ex. Sold or traded away cryptocurrency) during the year, you’ll have a tax liability to report to the IRS.Â
For more information, check out our complete guide to cryptocurrency taxes.Â
Yes. Crypto.com legally operates in the United States.Â
Remember, there is no way to legally evade your taxes in the United States. However, tools like tax-loss harvesting and cryptocurrency tax software can help you save thousands of dollars legally.Â
For more information, check out our guide on how to avoid crypto taxes.Â
Looking for a simple way to report your Crypto.com taxes? With CoinLedger, you can import your Crypto.com transactions and auto-generate a complete gains, losses, and income tax report in minutes.
CoinLedger integrates with Crypto.com and dozens of other wallets, blockchains, and cryptocurrency exchanges to automate the entire crypto tax reporting process.
You can get started with a free preview report today.
