11 August 2024

IRS releases updated Form 1099-DA for digital asset reporting

The IRS released a draft of the updated Form 1099-DA for brokers to report certain digital asset transactions that take place beginning in CY 2025. The new draft reflects the final regulations for custodial broker reporting (TD 10000) and transitional relief described in Notice 2024-56, Notice 2024-57 and Revenue Procedure 2024-28 (see Tax Alert 2024-1385). A Tax Alert is forthcoming.

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Published by NTD’s Tax Technical Knowledge Services group; Andrea Ben-Yosef, legal editor

Document ID: 2024-1521