Cryptocurrency Q&A
Do I have to report USDT to IRS?
Do I have to report USDT to IRS?
HanbokGlamourQueenEleganceBloom
Sat Mar 29 2025
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5
answers
1340
I'm wondering if I need to inform the IRS about my USDT transactions. Is it necessary to report USDT to the IRS, or are there specific rules and regulations I should be aware of regarding this matter?
5 answers
SamuraiHonor
Mon Mar 31 2025
This includes any gains or losses, regardless of how small they may be.
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Federico
Mon Mar 31 2025
Taxpayers must file Form 8949 and Schedule D to report these transactions and their associated gains or losses.
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BlockchainWizard
Mon Mar 31 2025
In the United States, taxpayers have specific obligations when it comes to reporting their cryptocurrency transactions.
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CharmedWhisper
Mon Mar 31 2025
Additionally, any income derived from cryptocurrency must be reported on Form 1040 or Schedule C.
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Paolo
Mon Mar 31 2025
Every time a taxpayer sells, swaps, or spends USDT throughout the financial year, they are required to report it.
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