IRS: US Crypto Brokers Report Proceeds for 2025 but Not Cost Basis
- —For 2025, US brokers report crypto sale proceeds to the IRS without cost basis
- —From 2026, brokers must also report cost basis for digital assets
- —21% of 1,000 surveyed investors are still waiting on exchange data for filing
- —About 20% said their 1099-DA was incomplete or of uncertain accuracy
Why it matters: The new rules complicate tax filing for investors and raise the risk of errors in calculating US crypto taxes.
Source: PANews