We kindly remind all our customers of your responsibility to pay applicable taxes on digital asset trading. Please note that Okcoin doesn't provide tax advice and isn't responsible for any customers' tax obligations. This article is for informational purposes only, and it shouldn’t be considered as tax advice or an individualized recommendation. Please consult your tax professional regarding your particular situation and reporting requirements.
Do I have to pay crypto taxes?
It depends on your jurisdiction. Countries and regions differ on how digital assets transactions and holdings are taxed and how they view digital assets in general (money, property, commodity). You should consult a local accountant, tax lawyer, and/or government official for your tax reporting obligations at your home jurisdiction.
If you are a US customer, you have to report gains and losses on each transaction or when you earn digital assets, even if the gain or loss isn't material. The US Internal Revenue Service (IRS) holds you responsible for reporting all income and transactions whether you receive a tax form from a digital assets exchange or not. IRS has the guidelines on how to report and pay taxes related to digital assets. You can find the guidelines on the IRS website, including the official virtual currency tax notice.
Does Okcoin provide 1099-B and 1099-MISC tax forms?
As of the 2021 tax year, we provide 1099-B and 1099-MISC tax forms for eligible US customers. You may receive your forms if you're a US person for tax purposes and:
- You've sold any crypto in 2021 (for 1099-B).
- You've received at least $600 from Earn to your Okcoin account (for 1099-MISC).
You can find your tax documents under your profile Overview. Learn more about finding your tax documents.
At this time, we don't provide tax forms for non-US customers. You can use your transaction history to fulfill any local tax filing obligations.
Where can I download my transaction history?
You can download your Okcoin transaction history from the Report center. Transaction history provides info used to determine any gains or losses on your digital asset activity on Okcoin. Such information includes:
- Time and date
- Trading type
If you have any questions or issues with your tax documents, contact email@example.com.
You can also learn more about how crypto taxes work in our "Crypto taxes, explained" blog article.