The Form 1099-DA shown here is the second version of the draft form released by the IRS An April 2024 draft was revised based on public comments and suggestions made to the IRS during a 60-day comment period, followed by an additional 30-day comment period after a second notice was published in the Federal Register.

The Form 1099-DA is part of the IRS's efforts to enhance information reporting, which is crucial for maintaining the integrity of the tax system. The IRS has identified that transactions involving digital assets were previously outside the scope of information reporting rules, and this form is likely part of the initiative to address that gap.