1099-K form is wrong by $215,000.00 HALP. Hi all, I received a 1099-K tax form from Binance futures trade bitcoin coin crypto (a crypto exchange) that shows I have a gross amount of payment card / third party network transactions of $220,190.00. I may have invested maybe $5,000 on the app MAX.. My questions are: Binance futures trade bitcoin coin crypto is this document claiming I spent 220k on the site? how do I fix this. what the flip do I do. I have little doubt that over the course of 2020 you sold $220,000 in crypto, which is what the 1099-K is supposed to report.
But you also bought crypto which the 1099-K is not supposed to report. You can used the 1099-K plus your own records to file a correct schedule D with a net income based on both your sales (1099-K) and kreditka.pw the personal or broker documents that list what those crypto cost you.