T&H
Well-known Member
This has nothing to do with btc. 3rd party companies like PayPal, eBay, cash app are supposed to report it. See below:Thank you, I blame my cardio brain.
Also, to your knowledge is it still ok to buy +500 in BTC? I thought I seen a few months they were trying to do something about Bitcoin over $500?
Under the new rules set forth by the IRS, if you got paid more than $600 for the transaction of goods and services through third-party payment platforms, you will receive a 1099-K for reporting the income.
You do have to account now for times you sell btc though.