IRS releases draft updated Form 1099-DA for digital assets proceeds from broker transactions, requests comments

New draft of Form 1099-DA reflects final regulations for custodial broker reporting and includes transitional relief

Download PDF
August 9, 2024

The IRS today announced the release of an early draft of the updated Form 1099-DA, which is the form for brokers to report certain sale and exchange transactions of digital assets that take place beginning in calendar year 2025, along with the instructions for recipients of the form.

According to today’s IRS release—IR-2024-204 (August 9, 2024)—the new draft of Form 1099-DA reflects the final regulations for custodial broker reporting and includes the transitional relief described in Notice 2024-56, Notice 2024-57, and Revenue Procedure 2024-28. Read TaxNewsFlash

The IRS in September 2024 posted the draft instructions. Read a September 2024 report prepared by KPMG LLP that provides an overview of the draft instructions as they relate to the final U.S. broker digital asset reporting regulations published in the in July 2024.

Thank you!

Thank you for contacting KPMG. We will respond to you as soon as possible.

Contact KPMG

Use this form to submit general inquiries to KPMG. We will respond to you as soon as possible.

By submitting, you agree that KPMG LLP may process any personal information you provide pursuant to KPMG LLP\'s . Privacy Statement

An error occurred. Please contact customer support.

Job seekers

Visit our careers section or search our jobs database.

Submit RFP

Use the RFP submission form to detail the services KPMG can help assist you with.

Office locations

International hotline

You can confidentially report concerns to the KPMG International hotline

Press contacts

Do you need to speak with our Press Office? Here's how to get in touch.

Headline