When did Coinbase start sending 1099-K forms to customers?

Baofeng

legendary

Activity: 2576

Merit: 1655

Quote from: arandon on August 27, 2020, 07:01:03 PM

I think my question is pretty much moot nowadays that IRS seems to just find out who owns crypto anyway.

Yes, but you have to file it anyways, here is the draft for 2020, https://www.irs.gov/pub/irs-dft/f1040--dft.pdf. Maybe you can take a look at it and prepare for the information that is needed if IRS is going to make this official.

arandon

newbie

Activity: 19

Merit: 5

I think my question is pretty much moot nowadays that IRS seems to just find out who owns crypto anyway.

Theb

hero member

Activity: 1680

Merit: 655

Quote from: BADecker on February 03, 2018, 10:58:16 AM

Coinbase Sends American Clients IRS Tax Form 1099-K

Quote from: https://news.bitcoin.com/coinbase-sends-american-clients-irs-tax-form-1099-k/

If you are an American client of Coinbase and made plenty of transactions during 2017, you better check your email. The company sent out tax forms for 2017 to many clients who were not necessarily expecting it.

The post you quoted for 2018 has a news linked that tells about Form 1099-K being sent to clients for the year 2017 and not meant for taxes on gains in 2018 (news was posted in Feb 2018) and I did took some time to find other sources about this one and Google is only showing me the results of the news link above. If you are worried about missing to file your tax report for 2017 I think you need to check your email because that is where they will send you a copy of the Form 1099-K, if you haven't received any email they have a copy here where you can download it.

arandon

newbie

Activity: 19

Merit: 5

I know Coinbase sent 1099-K forms for 2018, in early 2019 to eligible customers ("gross proceeds over $20,000 and more than 200 transactions").

But did they also send forms for 2017, when lots of people had gains? When did they start sending W-9 or 1099-K? I've seen a post from 2016 mentioning that.

Topic: When did Coinbase start sending 1099-K forms to customers? (Read 143 times)