New IRS 1099-DA Rules Create Headaches for US Crypto Exchanges and Taxpayers
- —21% of 1,000 surveyed investors were still waiting on exchange data for their filings
- —One in five received incomplete or inaccurate Form 1099-DA
- —Kraken sent 1099-DA forms just two weeks before the April 15 deadline
- —One client's stablecoin proceeds hit $300K versus under $100K reported on the form
Why it matters: Reporting gaps raise the risk of errors and IRS assessments for active traders and add compliance strain on exchanges.
Source: CryptoHamster