Where to Start with Your Form 1099 Product Analysis for Digital Assets
October 23 @ 2:00 pm – 3:00 pm EDT
Webcast overview
On June 28, 2024, the U.S. IRS and Treasury released the final digital asset tax reporting regulations, swiftly followed by further drafts of Form 1099-DA. Under these new rules, brokers are now required to withhold taxes and report annually on sales or exchanges involving cryptocurrencies, NFTs, tokenized securities, and other digital assets. Additionally, digital asset service providers must address other Form 1099 reporting requirements, such as income from staking rewards, airdrops, interest, and more
In light of these changes, it is crucial for digital asset service providers to analyze the geographic boundaries and legal terms of their products. This analysis will help determine which products fall within the scope of withholding and Form 1099 reporting.
KPMG LLP is pleased to invite you to this sixty-minute webcast hosted by professionals from KPMG, Ledgible, and Thomson Reuters. This webcast delves into the essential aspects of digital asset product analysis through the use of case studies. The topics covered will include:
Practical steps to initiate your product analysis if you’re feeling lost and don’t know where to start
Objectives, components, and outcomes of a product analysis
Key stakeholders involved in the analysis process
Mapping the essential annual reporting data elements back to the analysis
