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The IRS is rolling out the 1099-DA form in 2025, requiring exchanges like Coinbase to report your crypto trades directly to the agency. It works like stock reporting, so hiding transactions won't be an option anymore.
The IRS is rolling out the 1099-DA form in 2025, requiring exchanges like Coinbase to report your crypto trades directly to the agency. It works like stock reporting, so hiding transactions won't be an option anymore.
There's a new crypto tax form that you have to file this year if you're in the United States and nobody is talking about it. The 1099-DA form is the IRS's new crypto snitch form. So starting in 2025, crypto brokers have to send this form to the IRS. It reports your digital asset sales. If you sell, trade, or dispose of any asset through a broker like Coinbase or any exchange, you will get this form. So it's similar to a 1099-B for stocks but for crypto. So this makes it so you can't just forget about trades or ignore trades anymore inside of your exchanges because you will be getting this form from your exchanges. Now, if you don't want the stress of dealing with this and you want it all done for you because there's new rules this year and it's very annoying, then I have made our personal tax team available to you So they do it all for you. It's full white glove service. There's no need to stress or be annoyed at taxes. The team is called Count on Sheep, and if you comment tax, I will send you the link to do a free consultation with them. The consultation just gets you aligned on what they're going to do for you, and it's very easy. This is the tax team that I'm working with for my crypto taxes this year. So don't even try to skimp out on your taxes. Don't try to hide them because The platforms you are using are reporting and snitching on you to the IRS, right? It's not about you telling them. The actual platforms and websites you're using, they want to comply. They don't want to go to jail, so they are snitching on your transactions attached to your account. So the team will file the 1099-DA and deal with it for you. They will even do tax loss harvesting, which basically they they go and look back at your previous years and the current year and look for any capital losses that you've had. And then they apply those capital losses against any capital gains that you've had to help you save on taxes. So for example, if you have a capital loss of $5,000, but you also had a capital gain of $5,000, you can apply that loss against the gain and boom, your gains, the money that you took out is tax-free. But I'm not an accountant, I'm not a CPA. Leave that to them. Link is also in the bio for this service.
