New IRS Form 1099-DA Could Change How You Report Crypto: Are You Ready for 2025?

The Internal Revenue Service (IRS) has unveiled a draft version of a new form specific for reporting cryptocurrency transactions. This new form is part of a wider effort by the IRS to align its taxation norms with the digital asset sector. The form caters to a variety of transactions, including cryptocurrencies obtained from hard forks or airdrops, those used for exchange of goods or services, those acquired from mining, and those held without making transactions. The IRS's introduction of this form signifies its commitment to tax compliance within the digital currency ecosystem.

Read in-depth analysis on this topic at: https://theweb3.news/crypto/new-irs-form-1099-da-could-change-how-you-report-crypto-are-you-ready-for-2025/

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