Crypto Taxes Just Leveled Up: 1099DA, New Reporting Rules, and How to Avoid a Mess

Tax season is back, and crypto reporting is getting a lot more… specific. We’re joined by returning guest Clinton Donnelly of CryptoTaxAudit to break down the biggest crypto tax changes affecting U.S. traders this year—what forms are coming, what the IRS will see, and the most common ways people accidentally trigger problems. If you’ve traded on U.S.-based exchanges, this episode is your wake-up call.

In this episode, we cover:

• Why crypto taxes are getting more complicated (and more visible)

• New 1099-DA reporting: what it is and what exchanges may report

• Why “proceeds vs. cost basis” matters (and where confusion hits)

• The Form 8949 change: crypto transactions being separated out

• The “match the proceeds” issue that can trigger nasty IRS letters

• New FIFO requirement by wallet/account (and why it can change your tax bill)

• Why audits can drag on for years (and what “audit-proofing” really means)

• Practical advice for staying compliant without losing your mind

The 3 big crypto tax changes Clinton highlights:

1. 1099-DA is here (for U.S.-based exchanges)

2. Crypto gets its own lane on Form 8949 (more visibility for the IRS)

3. FIFO by wallet/account becomes required (can reshape gains calculations)

Helpful link:

• Work with Clinton / CryptoTaxAudit: http://badco.in/tax

Support the show: https://badcryptopodcast.com

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