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There's no difference in taxation between the two and not much difference in how easily the government can see how you used them.
by astrange 3y ago
There's no difference in taxation between the two and not much difference in how easily the government can see how you used them.
- injeolmi_love 3y agoMost of these 1099s are going out to people who owe little or no tax on the transactions, such as people who split restaurant bills worth more than $600 over the course of a year.
- astrange 3y agoNo, it doesn't apply to family and friends payments. https://help.venmo.com/hc/en-us/articles/4407389460499-2023-Tax-FAQ#:~:text=Anyone%20who%20met%20the%20%2420%2C000,qualifying%20users%2C%20it's%20worth%20noting https://help.venmo.com/hc/en-us/articles/4407389460499-2023-... In crypto of course you have to do all that bookkeeping yourself.