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The IRS has released a draft digital asset tax form

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2024-04-21 11:13:03
The Internal Revenue Service (IRS) has released a draft tax form for reporting digital asset transactions, applicable to tax returns through 2025. The form, known as 1099-DA, is used to report gains on digital assets traded by brokers. According to instructions on the payee form, brokers, including non-custodial wallet providers, must report gains on digital asset dispositions to the IRS. A cryptocurrency tax expert emphasized that the IRS's collection of certain data points, such as wallet addresses, "could raise significant privacy and security concerns".
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