Different Rules, Different Risks: Understanding the Differences Between 1099-DA vs. 1099-B Reporting

As the IRS rolls out Form 1099-DA for digital asset transactions, financial institutions that have long reported on traditional securities through Forms 1099-B, 1099-DIV, and others are encountering a new level of complexity. For firms expanding from traditional finance into digital assets, it is essential to understand both the differences and the overlaps between these reporting frameworks. Join Sovos experts as we break down the specific requirements of 1099-DA reporting, from capturing transaction data to calculating cost basis, and compare them with established reporting processes for stocks, bonds, and other traditional instruments. We will also address the risks of treating digital asset reporting as a separate process (spoiler alert – data silos, inconsistent outputs, and operational strain!) Attendees will walk away with strategies for unifying reporting across asset classes. If you want to ensure accuracy and compliance and deliver a seamless customer experience, you don’t want to miss this.