TAX2611. Digital Assets - What's New?

Form 1099-DA is new for 2025 along with new basis tracking and identification rules effective starting in 2025. Many digital asset transactions will not be reported on this new form but still have tax consequences taxpayers and their tax advisers need to understand and apply. Legislative changes likely in the 119th Congress will be covered along with questions to ask clients to help identify the tax rules applicable to their digital asset activities.

Learning Objectives:

• Explain how to use information on Form 1099-DA and what digital asset tax information is not on a Form 1099-DA
• Explain how to identify digital asset tax rules relevant to clients.
• Apply key IRS guidance on digital asset taxation and any recent legislation changes in this area.