Description

For each digital asset sale that a broker has affected for a customer in 2025, the broker must complete Form 1099-DA. A broker includes any person who, in the ordinary course of a trade or business, stands ready to affect sales of digital assets to be made by others. This program covers the required rules for reporting digital asset transactions on Form 1099-DA.

Instructor: Mike Tucker, Ph.D., LL.M., J.D., CPA

Target Audience

Accounting and finance professionals who need to understand the rules regarding Form 1099-DA

Course Objectives

Understand the rules relating to Form 1099-DA

Subjects

Definition of a digital asset for purposes of Form 1099-DA

What is a sale of a digital asset affected by a broker on behalf of another person?

Mandatory 2025 reporting of gross proceeds information and voluntary reporting of basis information

Treatment of sales of digital assets

Who is a broker for purposes of Form 1099-DA?

Information required to complete Form 1099-DA

Reporting closing transactions and covered securities

Who is a processor of digital asset payments?

How many transactions to report on each Form 1099-DA and how many forms to file for each transaction

Optional reporting methods for digital asset transactions

Substitute statements for the Form 1099

Reporting a disposition of digital assets held by a widely held fixed investment trust