IRS Draft Form.: Digital Asset Proceeds From Broker Transactions, New Form for 2025

Brokers must report proceeds from (and in some cases, basis for) digital asset dispositions to taxpayers on new Form 1099-DA in 2025, the IRS announced. Taxpayers may be required to recognize gain from these dispositions of digital assets. Reporting is also required when your broker knows or has reason to know that a corporation in which a taxpayer owns a digital asset that is also stock has had a reportable change in control or capital structure. Taxpayers may be required to recognize gain from the receipt of cash, services, digital assets, or other property that was exchanged for a digital ...