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The 2025 tax season is almost here, officially kicking off on January 27th! If you have been active in the crypto space, knowing what tax forms to expect and how to handle them is crucial. Here is a breakdown of what you should look out for from crypto platforms.
In this photo illustration a nitizen holds a physical commemorative Bitcoin. On Tuesday, January 5, ... [+] 2020, in Dublin, Ireland. (Photo by Artur Widak/NurPhoto via Getty Images)
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Form 1099-MISC
This form reports your 2024 income from staking or other rewards. You will receive a 1099-MISC if your income from these activities exceeds $600. If it is below $600, you will not get a form, but you are still required to report the income on your tax return.
The amount from Form 1099-MISC should be entered on Schedule 1, Line Z of your tax return.
Form 1099-B
This form lists your crypto trades and the gains or losses associated with them during the tax year (January 1 to December 31, 2024). Currently, only a few platforms, such as Robinhood, PayPal, Etoro, Uphold, and CashApp, provide Form 1099-B.
Transfer the information from Form 1099-B to Form 8949 and Schedule D when filing your taxes.
