IRS Unveils an Updated Crypto Tax Form

The US IRS has recently released an updated version of Form 1099-DA, which will be used by brokers to report digital asset transactions to their customers starting in 2025.

Ji Kim, Head of Global Policy, Digital Assets, and General Counsel at the Crypto Council for Innovation, shared on the social media platform X that this draft form has removed wallet addresses, transaction IDs, and time acquired – significant changes from the previous version.

This form, which tracks “digital asset proceeds from broker transactions,” is set to be implemented at least in part in 2025, according to the updated draft released on August 8th.