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The Internal Revenue Service (IRS) has released an updated draft of the 1099-DA form, which will be used by brokers to report digital asset transactions starting in 2025. The new form, reflecting regulations issued in June, is designed to simplify tax reporting for crypto investors by removing the requirement to report wallet addresses, transaction IDs, and the time assets were acquired. This change is seen as a less burdensome approach for brokers and investors. The IRS is seeking feedback from the industry on this draft, with a 30-day comment period. Centralized exchanges are expected to begin issuing these forms to users in 2026, when reporting proceeds from transactions will start.
IRS RELEASES STREAMLINED CRYPTO TAX FORM The IRS has introduced a new version of the 1099-DA form, which crypto investors and brokers will use to report taxable transactions. The updated form, set to be used from 2026, is less burdensome, removing the need for detailed… https://t.co/RFGrCX2v2f
IRS REVEALS NEW CRYPTO TAX FORM, SEEKS FEEDBACK FROM INDUSTRY The IRS has unveiled an updated draft of the 1099-DA tax form that crypto brokers and investors will use to report transactions starting in 2026. The new form is simpler and less invasive, removing controversial… https://t.co/tY2JdiGi5C
The United States Internal Revenue Service (IRS) has released its draft form for taxpayers to declare digital asset transactions starting in 2026 in a notice on Aug 8. https://t.co/7xACvrTFP9