IRS compliance reports or major financial auditing firm reviews.

IRS Unveils Draft Form 1099-DA for 2025 Crypto Broker Reporting

Apr 19, 2024, 05:53 PM

The IRS has released the first draft of Form 1099-DA, a new tax form specifically designed for reporting digital asset transactions by brokers. This development is part of the broader regulatory framework that includes defining 'unhosted wallet providers' as 'brokers' under the IRS's broker rule, which has yet to be finalized. The form, which aims to collect detailed identification and transaction data, is set to be used by brokers starting in 2025 to report digital asset proceeds from broker transactions.