# When will I receive my tax form?

Category: Manage
Source: https://strike.me/support/when-will-i-receive-my-tax-form/

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Strike issues a [Form 1099-DA](https://www.irs.gov/instructions/i1099da), Digital Asset Proceeds From Broker Transactions, only for a year in which you sold or otherwise disposed of bitcoin. If you had any taxable transactions this year, you’ll be notified to access the form in the app by **mid-February** next year. You can [view and download transaction history and account statements](/support/where-can-i-find-my-transaction-history) anytime.

Even if you close your account, you’ll still receive an email as long as you made a taxable transaction in the preceding year. If you don’t receive the form, [contact support](/support/how-do-i-contact-support).

Every form Strike issues also goes to the IRS, as required by law, and the IRS matches forms against returns. You stay in control of the figures on your own return, and you remain responsible for them.

## Taxable transactions

The IRS [treats bitcoin as property](https://www.irs.gov/individuals/international-taxpayers/frequently-asked-questions-on-virtual-currency-transactions), so exchanging it for something else realizes a capital gain or loss that belongs on your tax return. You may be taxed when:

- [Selling bitcoin](/support/how-do-i-buy-or-sell-bitcoin) for dollars
- [Sending bitcoin](/support/how-do-i-send-cash-or-bitcoin) to someone else as a payment, including to other Strike accounts or external addresses
- Spending bitcoin on goods or services, including [in-kind loan payments](/support/how-do-i-pay-interest-or-repay-principal), involuntary [collateral liquidations](/support/how-do-margin-calls-and-liquidations-happen), [bill payments](/support/how-do-i-pay-bills), or [gift card purchases](/support/can-i-shop-for-gift-cards-esims-and-phone-top-ups)

The IRS treats sending and spending bitcoin essentially the same as selling it: the gain or loss is the bitcoin’s value when it leaves your account minus the [cost basis](/support/how-do-i-manage-my-cost-basis) of when you acquired it.

## Non-taxable transactions

Tax is triggered by the disposal of bitcoin, not by ownership. Generally, transactions that don’t involve disposals don’t create taxable events, such as:

- [Buying bitcoin](/support/how-do-i-buy-or-sell-bitcoin) with dollars and holding it, including through [automatic paycheck conversions](/support/how-do-i-set-up-direct-deposit) (though the income itself is subject to income tax)
- Sending bitcoin between wallets or accounts that are all your own, including Strike’s free [on-chain withdrawals](/support/how-do-i-withdraw-bitcoin)
- Receiving bitcoin as a gift creates no income until you later dispose of it, as long as you stay below the IRS exclusion limit

Examples are for informational purposes only. Strike doesn’t provide tax advice. Consult a qualified professional about your individual situation.

## Form 1099-K for businesses

Business accounts receive the same 1099-DA for bitcoin dispositions.

A business accepting payments may additionally receive a [Form 1099-K](https://www.irs.gov/businesses/what-to-do-with-form-1099-k), which reports the gross volume of payments the business received through Strike. A 1099-K’s gross amount is **not itself taxable income**. You calculate your actual taxable income when you file your return, after subtracting deductions, cost basis, and any non-taxable payments.

The [federal threshold](https://www.irs.gov/newsroom/irs-issues-faqs-on-form-1099-k-threshold-under-the-one-big-beautiful-bill-dollar-limit-reverts-to-20000) is more than $20,000 in gross payments and more than 200 transactions in the year. Several states set lower thresholds, so a business can receive a form below the federal bar:

| State | Tax year 2025 threshold |
| --- | --- |
| Arkansas | $2,500 |
| Illinois | $1,000 and 4 or more transactions |
| New Jersey | $1,000 |
| DC, Maryland, Massachusetts, Montana, Vermont, Virginia | $600 |

If you receive a 1099-K you believe your business is not eligible for, contact support to request a revision.

From Strike's help center — https://strike.me/support/