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DID YOU KNOW? Crypto’s Reporting Loophole Is Closing Fast

The IRS generally treats crypto like property, similar to stocks or real estate, so selling crypto can trigger a capital gain or loss.

DID YOU KNOW? Crypto’s Reporting Loophole Is Closing Fast

The IRS generally treats crypto like property, similar to stocks or real estate, so selling crypto can trigger a capital gain or loss.

In the 2025 income tax year, brokerages will be required to issue Form 1099 DA, reporting gross proceeds for each digital asset sale. Starting the following year, brokerages must also report cost basis, giving the IRS a complete picture of every crypto transaction.  

This shift raises an important question: Has crypto been a tax evasion mechanism till now?

The new rules suggest the IRS believes it has been far too easy to hide activity, and they are shutting the door.

Have questions about the market or your next move? Let’s talk.

 

 

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#cryptocomplianceIRS
#digitalassetregulation
#cryptotaxevasion

 

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