⚠️ Crypto Taxes Just Got Real: IRS Drops 1099-DA Bomb 💣 [2024]

The I.R.S. has released form 1099 D.A., which is used to report broker-dealer transactions involving digital assets (cryptocurrencies). The form requires reporting of transaction details such as parties involved, amounts, and dates. It also requires reporting of blockchain addresses involved in the transactions, potentially allowing the I.R.S. to monitor asset movements over time.

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📣 Host: Clinton Donnelly
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▬▬▬▬▬ Timestamps ▬▬▬▬▬
00:00 Intro
00:30 Tax Law Changes for Digital Assets
01:45 Form 1099-DA Details
02:45 Wash Sales and Cryptocurrencies
03:45 Digital Asset Transaction Addresses
04:30 Trading: Process and Reporting
08:23 Final Thoughts

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Disclaimer: This video is for informational purposes only and is not financial or tax advice. Please consult with a professional financial or tax advisor before making any decisions based on the content of this video.

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