IRS new Crypto 1099 filing rules for 2025/2026. Will you sell before your forced to report?

- New regulation requires brokers and custodians to report 1099 forms for crypto exchanges by 2025 - Public must file this information in 2026 - Seen as a form of control or invasion of privacy by some - Source link: [US Treasury Crypto Tax Regime](https://www.coindesk.com/policy/2024/06/28/us-treasury-issues-crypto-tax-regime-for-2025-delays-rules-for-non-custodians/)

🚨 Reddit sentiment: mixed/negative - The comments reflect annoyance and frustration about the reporting process, with a few comments trying to lighten the mood. While some acknowledge the necessity and regulatory compliance, the overall sentiment leans toward viewing the process as cumbersome and tricky. Summarized comments: - The requirement to report gains/losses from crypto sales is not new - Some companies already report these transactions, like Coinbase - Filing has been required for a while, but the process can be time-consuming and annoying, especially when using wallets - Some people have been reporting their crypto holdings for several years now to avoid audits - There is a question on the 1040 form about owning and transacting in crypto - The new rule just improves compliance with automation - If no transactions are made, there's nothing to report - Brokerages send 1099-B forms regardless of selling - People joke about losing their bitcoin wallets to avoid reporting