PayPal and Venmo are popular payment platforms that now allow users to buy, sell, and hold cryptocurrency. However, unlike other cryptocurrency exchanges, PayPal and Venmo do not allow users to transfer cryptocurrency on or off their platform.
This means that PayPal and Venmo are able to provide their users with complete tax documentation for all crypto transactions on their platform. To report your crypto taxes from these platforms do not upload your tax forms into CoinLedger.
PayPal Tax Forms
Navigate to the PayPal Statements & Tax Center to download the Transaction History csv file. This is a complete summary that lists the transaction amount, date acquired or sold, and transaction fees for all your crypto transactions. Take this Transaction History report to your tax professional or e-filing service.
Venmo Tax Forms
According to Venmo, users can request complete tax documentation to report gains and losses from selling cryptocurrency on platform. Venmo does not a provide a link for directly exporting this tax form on their site, so Venmo users should message in to Venmo customer support in order to get the correct file. Take this tax form to your tax professional or e-filing service.
For more information discussing PayPal crypto taxes in detail, check out this article on our website.