Dr. Friday explains a new IRS form, 1099-DA, that begins in 2025 for digital assets. She notes it will work much like a 1099-B and makes it easier for the IRS to track crypto activity.
Transcript
G’day, I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one-minute moment.
The IRS is significantly expanding oversight of digital assets through the rollout of a form called a 1099-DA. All of my crypto people, all of my people into virtual currency need to listen. 1099-DA is new and it begins in 2025.
This form will functionally simulate the 1099-B for stock trades, but guess what? It’s going to be showing all that for cryptocurrency and digital assets.
If you do not have this or understand what this is, you need to talk to us because this is new and they’re gonna know where your money is. 615-367-0819.
You can catch the Dr. Friday Call-in Show live every Saturday afternoon from 2 to 3 p.m. right here on 99.7 WTN.