The new 1099-DA form of the Internal Revenue Service, although designed to rationalize tax reports for cryptocurrency users, can inadvertently trigger audits due to the basic data of incomplete costs provided by exchanges, warns an expert. The “Phantom Gain” imprisons the new form 1099-Da of Internal Revenue Service (IRS), although well-intentioned, could unjustly target many cryptocurrency users for audits due (…)
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New IRS Crypto Form Could Trigger ‘Phantom Gains’ and Unwanted Audits, Expert Warns
