IRS (Federal) Reporting
If you have sold bitcoin during the tax year, the IRS requires those transactions to be reported on your federal tax return. To assist in your income tax preparation, River will provide you with Form 1099-B by February 15 of the following year. The Form 1099-B contains information on your taxable trades for the reporting year. A copy of the Form 1099-B is also required to be sent to the IRS.
For more information, please see the IRS website.
Notice: River Financial does not provide investment, financial, tax, or legal advice. The information provided is general and illustrative in nature and therefore is not intended to provide, and should not be relied on for, tax advice. We encourage you to consult the appropriate tax professional to understand your personal tax circumstances.