PayPal will send cryptocurrency tax forms to users by February 15 to comply with IRS regulations.
Odaily reports that PayPal has officially announced it will provide free self-service tax filing for its debit card users, including free 2025 federal and state tax return filing services for U.S. PayPal Debit Mastercard users. According to information on PayPal's official website, users are required to report taxes on cryptocurrencies held on its platform. Starting from the 2025 tax year, the U.S. Internal Revenue Service requires U.S. digital asset brokers such as PayPal to report gains from digital asset dispositions on Form 1099-DA. If users dispose of cryptocurrencies in their PayPal wallets—such as selling or exchanging crypto—during the applicable tax year, PayPal will send the IRS Form 1099-DA to users by February 15.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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