Wondering, does Crypto.com send 1099 forms for your crypto earnings? If you're a U.S. person using the Crypto.com platform, understanding your tax obligations is crucial. The short answer is yes, Crypto.com automatically generates a Form 1099 whenever a user earns $600 or more on the crypto exchange.

Crypto.com may be required to issue to you a Form MISC, Miscellaneous Income, if you are a U.S. person who has earned USD $600 or more in rewards from Crypto.com during the previous calendar year from Lock-Ups, Earn, Referrals, and/or certain other activities.

This Form 1099 typically covers income earned from activities like staking rewards (Earn), referrals, and other promotional bonuses. Keep in mind that when the exchange issues a Form 1099, it... So a MISC may be sufficient for you to report your interest, but will not show your capital gains/loss from trades.

Therefore, while the 1099-MISC is helpful, it doesn't provide a complete picture of your crypto tax situation. It's vital to track your capital gains and losses from buying, selling, and trading cryptocurrencies on Crypto.com separately. That is why people often use tax platforms to keep track of cost-basis. These platforms can integrate with Crypto.com and other exchanges to accurately calculate your tax liability.

In summary, expect a 1099-MISC from Crypto.com if your earnings exceed $600, but remember this form doesn't cover all your crypto-related tax obligations. Consult with a tax professional or use crypto tax software to ensure accurate reporting.