Although Cash App isn’t a bank but mobile payments and investing app, you can still get bank statements for both payments and investments.
To view your account statements, do the following:
- Sign into https://cash.app
- Click on the Statements button in the top-right corner
- Choose which monthly statement you want to view
That’s it. The monthly statements are available in less than five business days from the end of the month.
How to View Cash App Investing Statements
Apart from your normal account statements, you can also see your monthly Cash App investing statements. All you need to do is:
- Tap the profile icon on the Cash App home screen
- Select “Personal”
- Scroll to “Documents”
- Select “Monthly Statements”
- Select a month
You can also access your trade confirmations which are basically receipts for stock transactions.
The trade confirmations only contain information such as the number of stocks you bought or sold and the price that you paid or received, as well as the stock’s ticker symbol. That’s all.
To see a trade confirmation, simply:
- Tap the Activity tab
- Select a trade or
- Tap the search bar and enter a company’s name
- Choose a purchase or sale
- Tap on “…”
- Select “Trade Confirmation”
The trade confirmations are generally obtainable in your Cash App one trading day after the purchase or sale was finalized. As already mentioned, the trade confirmation includes the price, the date, fees, and settlement terms of your trades.
How to View Your Complete Transaction History
If a monthly Cash App account statement isn’t enough for you, you can view and download a copy of your complete payment history as well as all your personal information. To access these, you’ll have to use your computer or mobile browser and:
- Sign in to your account at Cash.app/account
- Click on “Settings”
- Click on “Download Your Info” under “Your Info”
- Click on “Activity” to view your complete payment history
- Click on “Statements”
- Click on “Export” to download your transaction history
Now that we know how to get our statements, you might be wondering whether Cash App is sending them to the IRS.
Does Cash App Report Your Transactions to The IRS?
There have been major changes in the way companies are required to report the sale of goods and/or services through P2P payment services such as Cash App.
However, although there was much fuss online and in the news that everyone’s incomes over $600 per year were going to be reported to the IRS, the truth is, that is only true for business accounts, at least with Cash App.
What came as a shock to many people was that the previous threshold was $20,000 per tax year.
So, starting on January 1, 2022, Cash App will start to declare payments for goods and services on Form 1099-K if the transactions total $600+ in a year. Again, this is only valid for business accounts.
Cash App’s website explicitly says that sending or receiving money that happens between friends and family to, for example, send gifts, pay for dinners, or split bills, won’t be reported to the Internal Revenue Service.
Cash App Personal Vs. Business Account
Cash App Personal and Business accounts aren’t that much different. They have almost all the same features which means that a business account is lacking many features that other business accounts have and that make entrepreneurs’ lives easier.
The biggest difference between the two is that when you open a personal Cash App account, you’re agreeing not to receive commercial payments. You should only receive money from friends, family, and direct debits from your employer(s), for example.
If you decide that you want to start using Cash App to accept payments from clients for goods and/or services you’re selling, you’ll have to open a Cash App for Business account.
Once you do that, you can receive payments from customers and clients with a fee of 2.75% which is automatically deducted from each payment.
And, as we already mentioned, Cash App is obligated to report payments on Form 1099-K when those transactions total at least $600 in a year.
It’s easy to get a bank statement from Cash App as well as your complete transaction history. Those that are investing in stocks using Cash App can also get their monthly investing statements as well as trade confirmations.
Cash App’s reporting isn’t top-notch compared to other digital banks and there’s no budgeting feature, which is frankly disappointing.
However, I don’t think its user base is losing sleep over it and whatever monthly statement you can get is more than enough for them.
Adrian Volenik is a fintech enthusiast who loves testing and reviewing digital banking apps and financial products in general. How many digital banking accounts can one man have? Not enough, if you ask Adrian. As his wallet will soon explode if he doesn’t cut back on the number of cards.