Binance.US on the 1099-K form

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thaterrormessage
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Joined: Tue Jul 14, 2020 3:21 pm

Binance.US on the 1099-K form

Post by thaterrormessage »

I understand you are inquiring about receiving a 1099-K form. This is not a form that we are providing moving forward. Previously, Binance.US took the position that it was a Third Party Settlement Organization (“TPSO”) under Section 6050W of the Internal Revenue Code and accordingly, filed Forms 1099-K for certain transactions settled on the exchange. After further evaluation and general indications from the IRS on the intended direction for future reporting, Binance.US has decided not to issue Forms 1099-K for customers on the exchange for the tax year 2021 and beyond.

However, we do offer access to your trading history that you can use to assist with preparing your taxes.

Statement generation is now available - yearly and quarterly. Each quarter statement and yearly statement is not available until the quarter/year closes. Example: yearly statements will not be available until January once the year closes.

You can also use your account history to verify your trading history. Please note that Buy Crypto and Trade orders are accounted for separately.
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