IRS Shares New Crypto Tax Form, Invites Industry Input

The U.S. IRS has released an updated draft version of the tax form crypto brokers and investors will use to report proceeds from certain transactions, the 1099-DA. Beginning in 2026, crypto investors who use brokers – which, for now, like Coinbase and Kraken – will receive the 1099-DA from those brokers to report certain crypto sale and exchange transactions to the IRS as taxable events. The updated version of the 1099-DA released Friday is more streamlined than the first draft of the tax reporting form floated by the IRS in April. The updated form is "massively improved/less burdensome and requires considerably less data reporting.”

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