Prepare for New Crypto Reporting with 1099-DA Changes

Brokers will soon implement the revised Form 1099-DA reporting rules that officially apply for the 2025 tax year. These changes will require brokers to issue the forms to both taxpayers and the IRS starting in early 2026. Prior to these requirements, digital asset transaction reporting often relied heavily on self-disclosed information, which commonly led to discrepancies and underreporting.

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This new directive aims to tighten the reporting framework by requiring third-party disclosure, thereby minimizing errors and helping ensure that all digital asset transactions are accurately reported.

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