Tax Clarity: The New U.S. Crypto Tax Era and Form 1099-DA ๐๐บ๐ธ
The IRS has officially activated new reporting requirements for 2025, mandating that brokers report gross proceeds from digital asset sales using the new Form 1099-DA. ๐ฆ๐
$BTC By 2026, this framework will expand to include "cost basis" reporting, eliminating tax ambiguity and treating crypto with the same structural rigor as traditional stocks. โ๏ธ๐
$ONDO The bipartisan "Digital Asset PARITY Act," introduced in late 2025, proposes tax exemptions for small daily purchases under $200 and more favorable rules for staking rewards. โโ๏ธ
$TRX While the "wash sale" loophole is closingโrequiring a 30-day wait to claim lossesโthese rules provide the "clean" data institutional investors need to enter the market. ๐ช๐ก๏ธ
This shift toward automated tax reporting is a massive leap for mainstream legitimacy, reducing the manual burden on individual taxpayers while increasing federal oversight. ๐๏ธ๐
As the U.S. modernizes its tax code for the Web3 age, "tax-loss harvesting" and long-term holding strategies are becoming essential tools for savvy investors. ๐๐ฐ
#CryptoTax #IRS #1099DA #DigitalAssetRegulation