1/ 🧵 United states has a draft for the digital asset taxation for the brokers and business in the cryptocurrency. This form is called as the 1099DA form.
1/ 🧵 United states has a draft for the digital asset taxation for the brokers and business in the cryptocurrency. This form is called as the 1099DA form.
2/ 🧵 Digital assets are supposed to be declared and their origin, transactions and the funds being tallied for the total profit is meant to be reported in this form.
3/ 🧵 Currently the form is supposed to be filed after the 2026 year and onwards. And they are making sure the declaration is done through accountants and software which would be ready by then.
4/ 🧵 Check out how Form 1099DA is meant to be filed by exchanges, business for the digital asset declaration.
https://inleo.io/@esmeesmith/form-1099da-digital-asset-broker-form-for-declaring-crypto-gain