The IRS has updated its draft digital asset reporting form, effective in 2026. 📉
- The new draft 1099-DA removes the requirement to specify the broker type and the exact time of the transaction.
- The fields for wallet addresses and transaction IDs have been removed.
- IRS Commissioner Danny Werfel said the form will be more understandable for taxpayers.
- Attorney Drew Hinkes noted that the new version is significantly improved and less burdensome.
Source: IRS