Did you get any crypto related IRS forms?

[Arky]

I was drawing interest at Crypto.com and Celsius. Thought for sure they would send me some 1099's about it. But so far, nada. I'm going to give them another week or so and then do my taxes without 'em.

Anyone else get any crypto related tax forms in the mail? It would be interesting to know who is sending out what and why for and keep it in one thread. Money amounts not important... just what triggered the form...

[LLXC]

You can access your Celsius one through their app/online.

[Arky]

You can access your Celsius one through their app/online.

Thanks. Found the place where the form should be but nothing listed in my app. Just the "email or mail" choice.

Celsius provides you 1099s if you earned $600 or more in a given tax year. That report will be made available to you by February 1.

I guess I didn't earn over $600. That is possible as I didn't start dealing with them until October.

More info on Celsius tax information click here.

[Arky]

For crypto.com, I found this:

https://help.crypto.com/en/articles/3682427-what-do-i-need-to-know-about-my-1099-k-form

What do I need to know about my 1099-K form?
Kamelia avatar
Written by Kamelia
Updated over a week ago
What is the 1099-K form and why did I receive one?
Crypto.com is required to provide you with 1099-K form for informational purposes.Your buy, sell and exchange activities on our platform are subject to reporting if the gross proceeds from these transactions meet or exceed your state’s thresholds. For most states, the threshold is set by the IRS at $20,000 USD and 200 transactions in a calendar year. If you reside in any of the states listed below, the thresholds are lower:

Arkansas $2,500
District of Columbia $600
Massachusetts $600
Mississippi $600
Missouri $1,200
New Jersey $1,000
Vermont $600

Why is the gross amount higher than what I’ve spent on crypto?
The 1099-K reflects the gross volume of your cryptocurrency buy, sell and exchange activity on the Crypto.com platform throughout the year. Frequent transactions of smaller amounts may add up to a large total.

Do I have to pay tax on those transactions?
The 1099-K form reflects the gross volume of your transactions on the platform and is provided to you and the tax authorities for informational purposes. To determine which part of the gross volume listed on your 1099-K is taxable, please to consult your tax advisor.

When can I expect to receive the 1099-K?
If your transactional activity met the thresholds, you should receive it on or before January 31st.

Will I receive any notification that a 1099-K has been sent to me?
You will receive the form itself on or before January 31st of the year following the reporting year.

How will the 1099-K form be sent, email or by mail?
We will send the form to you by email, to your latest email address that we have on record. If you need a paper version, please follow the instructions from the email and you will receive a paper copy as well.

How can I check my transaction history?
You can download your transaction history directly from the app.

Do you report to the IRS?
The 1099-K form will be filed with the IRS.

Important notice: Crypto.com does not provide tax advice. This FAQ has been prepared for informational purposes only, not as a recommendation or advice. Please consult a tax advisor regarding your personal tax situation.

I didn't cash out anything so I'm guessing I don't qualify to receive a 1099K. I bought a lot, though. Buying and holding doesn't seem to enable any triggers.... Very similar to a year when I purchased over $20K with Gemini but never cashed out anything.... No form from them either....