KPMG Report: Documentation Rules under Final Digital Asset Reporting Regulations

Summary

The U.S. Treasury Department and IRS on July 9, 2024, issued final regulations (T.D. 10000) regarding information reporting under sections 6045 and 6050W, the determination of amount realized under section 1001 and basis under section 1012, and backup withholding under section 3406, for certain digital asset sales and exchanges.