KPMG report: Final regulations on information reporting on digital asset transactions

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

The IRS has released final regulations on information reporting on digital asset transactions. The regulations require brokers to report certain information to the IRS, including the type of digital asset, the date and time of the transaction, and the gross proceeds from the transaction. The regulations also provide guidance on how to determine the basis of digital assets and how to report gains and losses on digital asset transactions.

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Source :
KPMG
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