Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
IRS releases draft digital asset tax form

IRS releases draft digital asset tax form

CointimeCointime2024/04/22 01:07
By:Cointime

The US Internal Revenue Service (IRS) has released a draft tax form for reporting digital asset transactions, applicable for tax filings in 2025. The form, known as 1099-DA, is used to report digital asset earnings by brokers. According to the instructions on the recipient form, brokers, including non-custodial wallet providers, are required to report the earnings from digital asset disposals to the IRS. A cryptocurrency tax expert emphasized that the IRS collecting certain data points (such as wallet addresses) "could raise significant privacy and security concerns."

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Anticipating Bitcoin’s Unstable Market: Understanding Key Macro Factors

Decoding Key Macro Factors Behind the Anticipated Market Flux in Bitcoin Investing Arena

Coineagle2025/05/07 04:55
Anticipating Bitcoin’s Unstable Market: Understanding Key Macro Factors

Bitcoin’s Slowdown Precedes Fed Verdict, Yet HYPE, AAVE, RNDR, FET Display Bullish Trends!

While Bitcoin Rests, Lesser-Known Cryptocurrencies HYPE, AAVE, RNDR, and FET Show Promising Growth Potential

Coineagle2025/05/07 04:55
Bitcoin’s Slowdown Precedes Fed Verdict, Yet HYPE, AAVE, RNDR, FET Display Bullish Trends!