Cryptocurrency exchanges operating in the United States are required to comply with IRS regulations regarding the reporting of user activity. If you’ve conducted transactions through Crypto.com, it’s essential to understand whether your activity triggers mandatory reporting and what forms may be issued to you.

Crypto.com may issue tax documents to users whose activities meet specific thresholds. These include:

  • Receiving rewards from staking, referrals, or promotions
  • Executing a high volume of trades within a tax year
  • Converting crypto to fiat currency or other digital assets

Note: Even if you do not receive a tax form, you are still legally responsible for reporting all taxable cryptocurrency transactions on your annual return.

The platform determines whether a user qualifies for tax form issuance based on transaction type and volume. Here’s a summary:

Activity Type Reported to IRS Form Issued
Crypto Earn Interest Yes Form 1099-MISC
Trading (Buy/Sell) Sometimes* May not receive a form
Referral Bonuses Yes Form 1099-MISC

*Important: Trading activity may still be subject to capital gains tax, even if no form is provided by the exchange.

Which Types of 1099 Forms Does Crypto.com Issue?

Crypto.com provides tax documentation to eligible users based on the nature of their cryptocurrency transactions. The platform primarily issues tax forms that report income derived from rewards, staking, and other earn-based programs. These documents are designed to help users fulfill their tax obligations to the Internal Revenue Service (IRS).

The issuance of specific tax forms depends on both the user's residency and the total amount of earnings in a given tax year. U.S. residents who meet the reporting thresholds will typically receive one or more types of 1099 forms.

Form Variants You May Receive

  • 1099-MISC: Reports miscellaneous income, such as bonuses from referral programs or staking rewards.
  • 1099-INT: Issued for users who earn interest through Crypto.com’s Earn feature.

Crypto.com does not issue 1099-B forms for capital gains reporting. Users are responsible for calculating gains/losses using their transaction history.

  1. Verify your residency status in your account settings.
  2. Download the 1099 forms from the "Tax" section within your Crypto.com dashboard.
  3. Use third-party tax tools or consult a tax advisor for capital gains calculations.
Form Type Purpose Trigger Amount
1099-MISC Reports rewards, bonuses, and staking earnings $600 or more
1099-INT Reports interest income $10 or more

How to Verify Receipt of a Tax Statement from Crypto.com

If you’ve traded or earned rewards through Crypto.com, the platform may have issued a tax document relevant to your activity. These forms are typically distributed to users who meet specific thresholds in earnings or transactions, especially if you are a U.S. taxpayer. It’s essential to verify whether such a document was provided to ensure accurate tax reporting.

To confirm whether Crypto.com has issued a tax form for your account, follow a few precise steps via the app or desktop portal. Be aware that not all users receive tax documentation–only those who trigger certain reporting criteria as per IRS requirements.

Steps to Locate Your Tax Document

  1. Open the Crypto.com app or visit the official desktop site.
  2. Log in and go to “Accounts” → “Tax” or navigate to the Tax Reporting section under Settings.
  3. Look for a downloadable document for the previous tax year–this will typically be a PDF labeled with the year (e.g., “2024_US_Tax_Form.pdf”).

Check your email inbox associated with your Crypto.com account–notifications regarding tax forms are often sent there.

Document Type and Delivery Criteria

Form Type Trigger Condition Delivery Method
Form 1099-MISC $600+ in rewards or bonuses Email and App Download
Form 1099-K 600+ transactions or $20,000 in volume* Email and App Download
  • If no form is visible, you likely didn’t meet IRS reporting thresholds.
  • Use Crypto.com Tax Tool to generate reports even if no IRS form was issued.

Criteria Crypto.com Uses to Determine 1099 Eligibility

Crypto.com assesses specific account activity to decide whether a user qualifies for IRS Form 1099. This form, typically sent to both the user and the IRS, reflects certain taxable transactions that occurred on the platform within a calendar year. The type of form issued (e.g., 1099-MISC) depends on the nature of the income earned through the platform.

Eligibility for a 1099 is not universal across all users and is based on a combination of income thresholds and the types of rewards or payments received. Crypto.com follows IRS guidelines to determine if a user meets the criteria for mandatory reporting.

Key Factors Affecting Reporting Obligations

  • Geographic Location: Only U.S. residents are evaluated for IRS 1099 forms.
  • Reward Type: Cashback, staking rewards, and bonuses are subject to different reporting rules.
  • Payout Thresholds: If total eligible rewards meet or exceed $600, reporting is typically triggered.

Crypto.com reports to the IRS only if specific income thresholds are met for eligible U.S. persons.

Activity Type Reported on 1099? Threshold
Referral bonuses Yes $600+
Staking rewards Yes Any amount
Cashback from card spending No Not reportable
  1. Verify U.S. tax residency status.
  2. Calculate total reportable earnings.
  3. Confirm if earnings meet the IRS-defined threshold.

Steps to Download Your 1099 Form from the Crypto.com App

For users who have generated taxable income through Crypto.com–such as staking rewards, referrals, or trading activity–accessing the appropriate tax documentation is essential. The app provides an easy way to retrieve your annual tax report, specifically the IRS Form 1099-MISC, when applicable.

This process ensures compliance with U.S. tax reporting requirements and helps you avoid potential penalties during tax season. Below is a clear step-by-step guide to locate and download your tax form within the Crypto.com mobile platform.

Download Instructions via the Mobile App

  1. Open the Crypto.com App and log into your account.
  2. Navigate to the "Accounts" tab and tap the menu icon in the top left corner.
  3. Select “Tax” from the navigation menu.
  4. Tap “Documents” under the Tax section.
  5. Choose the relevant tax year (e.g., 2024).
  6. Look for a document labeled “1099-MISC” and tap to download the PDF file.

Only users who have earned $600 or more in rewards or other qualifying activities may receive a 1099-MISC. If you don’t see the form, it might not apply to your account.

Overview of Tax Document Access

Requirement Condition
1099 Form Issuance Only if $600+ earned through rewards, referrals, or bonuses
Access Location Crypto.com App > Tax > Documents
Supported Form 1099-MISC (not 1099-B)
  • Ensure your email is verified to receive notifications when the form becomes available.
  • Consult a tax advisor if you're unsure about how to report the figures on the form.

Steps to Take If You Didn't Get a Tax Statement from Your Crypto Platform

If you used Crypto.com or a similar exchange during the tax year and suspect you were eligible for a tax form (like a 1099), but didn’t receive one, it’s crucial to act quickly. These forms are used to report income such as staking rewards, bonuses, or certain sales, and not having one can delay or complicate your filing.

Even if the platform didn’t send a form, you may still be legally required to report the income. Exchanges have different thresholds for when they issue tax documents, and changes in IRS rules may affect this from year to year.

What You Should Do

  1. Log into your exchange account and review your transaction history for the tax year. Look for sections like "Tax Documents" or "Transaction Reports."
  2. Check if your activity qualifies for a tax form. This typically includes earned rewards, promotional bonuses, or proceeds from significant crypto sales.
  3. Download a CSV report of your full activity and calculate income manually or import into tax software.
  4. Contact platform support to confirm whether a tax document was issued or not.

Even if you didn’t receive an official form, the IRS still expects you to report all taxable events from crypto – including staking, referrals, and trading gains.

When Exchanges Typically Send Tax Documents

Type of Activity Tax Form (If Applicable) Minimum Threshold
Staking Rewards Form 1099-MISC $600 or more
Crypto Sales Form 1099-B (coming soon on some platforms) Any amount (subject to future IRS regulations)
Referral Bonuses Form 1099-MISC $600 or more
  • Use crypto tax tools like Koinly, CoinTracker, or TokenTax to fill in the gaps.
  • Consult a tax professional if you had high-volume trades or complex transactions.

How to Report Earnings from Crypto.com Without Receiving a Tax Form

This involves gathering detailed data about all taxable events that occurred during the tax year, including selling, converting, spending, or earning crypto. Whether you're dealing with capital gains, staking rewards, or promotional bonuses, each of these can carry tax obligations that need to be calculated and reported accurately.

Steps to Accurately Report Transactions

  1. Download your transaction history: Log in to your Crypto.com account, access the 'Export Transaction History' section, and download your full activity as a CSV file.
  2. Identify taxable events: Sort your activities into categories such as trades, sales, income (staking or rewards), and spending.
  3. Calculate capital gains and income: Determine the cost basis and fair market value at the time of each transaction.
  4. Use tax software or a CPA: Input this data into tax software that supports crypto or consult a crypto-savvy tax professional.

Even if no tax document was issued, failing to report cryptocurrency income may lead to penalties and interest – treat every transaction as if it’s under review.

Transaction Type Tax Implication IRS Form
Crypto-to-Fiat Sale Capital Gain/Loss Form 8949 + Schedule D
Staking Rewards Ordinary Income Schedule 1 or Schedule C
Crypto Spending Capital Gain/Loss Form 8949
Airdrops/Bonuses Ordinary Income Schedule 1
  • Always retain backup files of your exports and calculations.
  • Mark the dates and values for each taxable event.
  • Report all income even if it’s below a threshold or no form was sent.

Common Errors Found on Crypto.com 1099 Forms and How to Fix Them

Crypto.com provides tax documents like the 1099 form to report your cryptocurrency transactions. However, users often encounter several mistakes on these forms that can lead to filing inaccuracies. Identifying and correcting these errors early on is crucial to avoid tax complications. Here are some of the most common issues found on Crypto.com's 1099 forms and how to resolve them effectively.

Errors in reporting on the 1099 form can arise from various factors, including incorrect transaction data or overlooked information. Below are the most frequently seen mistakes and their solutions, which can help ensure accurate reporting for tax purposes.

1. Incorrect Reporting of Capital Gains

One of the most common errors is the misreporting of capital gains or losses from crypto transactions. This can happen if the platform does not properly track the cost basis of your assets, leading to discrepancies in reported gains.

  • Verify all transaction records to ensure the correct cost basis is being applied.
  • If you made multiple transactions in a short period, use a portfolio tracker to match trades and assess your actual gains or losses.
  • Consult with a tax professional if the discrepancies are significant.

2. Missing Transaction Data

Another frequent issue is missing transaction data for deposits or withdrawals. Crypto.com may not always report the full range of your activities, especially for transactions involving external wallets.

  1. Check your transaction history on Crypto.com and compare it with your personal records.
  2. Manually input missing transactions or request additional statements from Crypto.com.
  3. Ensure that all deposits and withdrawals are properly recorded, especially those not initiated on Crypto.com.

3. Inaccurate Staking Rewards Reporting

Staking rewards might not be fully reflected on the 1099 form. If you're earning rewards by staking your crypto, it's important to confirm that Crypto.com reports them accurately.

Always check your staking transaction history and ensure the rewards are reported under the correct section of the 1099 form.

How to Fix These Issues

If you notice any discrepancies on your 1099 form, follow these steps to correct the information:

  1. Compare your personal records with the 1099 form provided by Crypto.com.
  2. Contact Crypto.com support to request corrections if you believe there are mistakes in the reported data.
  3. Recalculate your capital gains using the correct cost basis and submit the corrected figures to the IRS if necessary.
Error Solution
Incorrect Capital Gains Verify transaction data and consult with a tax professional.
Missing Transaction Data Cross-check your transaction history and add missing records manually.
Incorrect Staking Rewards Check staking history and verify the reward reporting.

How Crypto.com 1099 Forms Impact Your U.S. Tax Filing

When using Crypto.com for cryptocurrency trading or rewards, understanding how 1099 forms are issued and their impact on your U.S. tax return is critical. These forms provide necessary documentation for income earned from activities like staking, trading, or referral bonuses. For users who meet certain thresholds, Crypto.com is required to issue 1099 forms, such as the 1099-MISC and 1099-K, to help track taxable income. These forms are essential when filing taxes to ensure compliance with IRS regulations.

While receiving a 1099 form can simplify tax reporting, it does not eliminate the need for careful record-keeping. The forms provided by Crypto.com, especially the 1099-K, only report transaction volumes or gross income and do not specify capital gains or losses. As such, users need to manually calculate their gains or losses to ensure accurate tax filings. Below are key details about how these forms affect your tax obligations:

Key Forms and Their Impact on Your Tax Filing

  • 1099-MISC: This form reports any miscellaneous income, including rewards from staking and referral bonuses. If you receive income of this type through Crypto.com, it will be reported on this form and taxed as ordinary income.
  • 1099-K: This form is issued to users who conduct more than 200 transactions or process over $20,000 in payments in a given year. The 1099-K reports transaction volume but does not differentiate between gains and losses. These must be calculated manually for accurate reporting.

Important Considerations When Filing Taxes

  1. Reporting Income: Any income reported on the 1099-MISC must be included in your taxable income. This includes staking rewards, referral bonuses, and any other bonuses or promotions earned through Crypto.com.
  2. Tracking Gains and Losses: The 1099-K provides the total transaction volume but does not detail capital gains or losses. You need to track and report these separately to determine your taxable gains or losses.
  3. Avoiding IRS Penalties: Inaccurate or incomplete filings could increase your risk of an IRS audit. Ensure that all income, including crypto activity not covered by the 1099 forms, is reported to avoid penalties or fines.

Even if you don’t receive a 1099 form from Crypto.com, the IRS still requires you to report any taxable crypto activities. Failure to report can result in significant penalties and interest on unpaid taxes.

How to Utilize 1099 Forms in Your Tax Filing

Form Purpose Tax Filing Impact
1099-MISC Reports income from staking, bonuses, and rewards. Included as taxable income, subject to regular income tax rates.
1099-K Reports total transaction volume for users with significant trading activity. Helps track overall transaction volume, but capital gains and losses must be reported separately.