IRS releases draft updated Form 1099-DA for digital assets proceeds from broker transactions, requests comments

Type
:
Development
Tax Area
:
Others
Status
:
Draft Law
Qualification
:
Various
Implemented date
:
NA
Country
:
United States
Date added
1 Aug
,
2024
Docxster’s Summary

The IRS has released a draft of an updated Form 1099-DA for digital assets proceeds from broker transactions and is seeking comments. The form is intended to help taxpayers accurately report their digital asset transactions and comply with tax laws. The draft form includes new fields for reporting digital asset transactions and is expected to be finalized by the end of 2021.

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Source :
KPMG
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