Will I need to pay taxes if I sell Bitcoin? Cash App will provide you with your Form 1099-B based on the Form W-9 information you provided in the app. For any specific tax advice, please reach out to a qualified tax advisor.
Do I qualify for a Form 1099-B? If you have sold Bitcoin during the reporting tax year, Cash App will provide you with a 1099-B form by February 15th of the following year of your Bitcoin Sale.
Where can I locate my Form 1099-B? The 1099-B will be available to download at https://cash.app/account.
Will the IRS receive a copy of my Form 1099-B? Cash App is required by law to file a copy of the Form 1099-B to the IRS for the applicable tax year.
How is the proceeds amount calculated on the form? The proceeds box amount on the Form 1099-B shows the net cash proceeds from your Bitcoin sales.
How do I figure out my gains or losses and cost basis? Please refer to your account activity history in Cash App to help compute your gains and losses over a given period. For any specific tax advice, please reach out to a qualified tax advisor