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It's not possible for them to know in many cases so you really do need to keep track on your own. This is a problem for stock brokerages too when you've funded
by pmorici 9y ago
It's not possible for them to know in many cases so you really do need to keep track on your own. This is a problem for stock brokerages too when you've funded your account by transferring assets from another brokerage.
- kchoudhu 9y agoYour previous brokerage will still send you a transcript of everything at account closure, which provides a baseline for comparison with your new account. OP's argument that "it's too hard" is not adequate justification for not obeying tax laws.
- pmorici 9y agoNeither me the OP said that but to suggest that a brokerage or crypto exchange is being unprofessional by not being able to provide a 1099 in all cases is to ignore reality.