{"id":465952,"date":"2025-07-23T02:30:59","date_gmt":"2025-07-23T02:30:59","guid":{"rendered":"https:\/\/news.bitcoin.com\/?p=742558"},"modified":"2025-07-23T02:30:59","modified_gmt":"2025-07-23T02:30:59","slug":"new-irs-crypto-form-could-trigger-phantom-gains-and-unwanted-audits-expert-warns","status":"publish","type":"post","link":"https:\/\/e-bitco.in\/index.php\/2025\/07\/23\/new-irs-crypto-form-could-trigger-phantom-gains-and-unwanted-audits-expert-warns\/","title":{"rendered":"New IRS Crypto Form Could Trigger \u2018Phantom Gains\u2019 and Unwanted Audits, Expert Warns"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" width=\"768\" height=\"432\" src=\"https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2025\/07\/irddddet-768x432.png\" class=\"attachment-medium_large size-medium_large wp-post-image\" alt=\"New IRS Crypto Form Could Trigger &#039;Phantom Gains&#039; and Unwanted Audits, Expert Warns\" style=\"float:left;margin:0 15px 15px 0\" \/>The Internal Revenue Service\u2019s new Form 1099-DA, while designed to streamline tax reporting for cryptocurrency users, may inadvertently trigger audits due to incomplete cost basis data provided by exchanges, an expert warns. The &#8216;Phantom Gain&#8217; Trap The Internal Revenue Service (IRS)&#8217;s new Form 1099-DA, though well-intentioned, could unfairly target many cryptocurrency users for audits due [&#8230;] <a href=\"https:\/\/news.bitcoin.com\/\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Internal Revenue Service\u2019s new Form 1099-DA, while designed to streamline tax reporting for cryptocurrency users, may inadvertently trigger audits due to incomplete cost basis data provided by exchanges, an expert warns. The &#8216;Phantom Gain&#8217; Trap The Internal Revenue Service (IRS)&#8217;s new Form 1099-DA, though well-intentioned, could unfairly target many cryptocurrency users for audits due [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":465953,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":{"0":"post-465952","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin"},"_links":{"self":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts\/465952","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/comments?post=465952"}],"version-history":[{"count":0,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts\/465952\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/media\/465953"}],"wp:attachment":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/media?parent=465952"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/categories?post=465952"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/tags?post=465952"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}