Does Cash App automatically report Bitcoin transactions to the IRS?

3 answers

• PattyJul 06, 2024 · a year ago
  Yes, Cash App is required to report Bitcoin transactions to the IRS. As a regulated platform, Cash App follows the guidelines set by the IRS and complies with their reporting requirements. This means that any Bitcoin transactions conducted through Cash App may be reported to the IRS for tax purposes. It's important to keep this in mind when using Cash App for Bitcoin transactions.
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• Kiran Kumar GattiNov 27, 2024 · a year ago
  No, Cash App does not automatically report Bitcoin transactions to the IRS. While Cash App is a regulated platform, it does not have a direct obligation to report individual Bitcoin transactions to the IRS. However, it's still important to keep accurate records of your Bitcoin transactions and report them correctly on your tax returns.
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• SoapyRainmakerDec 23, 2021 · 4 years ago
  As an expert in the field, I can confirm that Cash App does automatically report Bitcoin transactions to the IRS. This is in line with the IRS regulations and helps ensure transparency and compliance in the cryptocurrency market. It's always a good practice to keep track of your Bitcoin transactions and consult with a tax professional for accurate reporting.
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