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2Bullish
Mar 5
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DIGITAL ASSETS AND THE IRS:
2Bullish
Nov 26
1. IRS Regulations Are TighteningExpanded Reporting Obligations: The IRS now requires brokers to report detailed information on digital asset transactions, including gross proceeds, cost basis, and holding periods.Covered Assets: Cryptocurrencies, stablecoins, and NFTs are all included.Timeline: Basis reporting begins in 2026, but tracking rules are effective starting in 2025.Form 1099-DA: This new reporting mechanism consolidates critical transaction details, ensuring transparency but also c...
Collect
DIGITAL ASSETS AND THE IRS:
2Bullish
Nov 26
1. IRS Regulations Are TighteningExpanded Reporting Obligations: The IRS now requires brokers to report detailed information on digital asset transactions, including gross proceeds, cost basis, and holding periods.Covered Assets: Cryptocurrencies, stablecoins, and NFTs are all included.Timeline: Basis reporting begins in 2026, but tracking rules are effective starting in 2025.Form 1099-DA: This new reporting mechanism consolidates critical transaction details, ensuring transparency but also c...
Collect
2Bullish
