The IRS has clarified that brokers must report digital asset sales proceeds for 2025 transactions but are not required to report cost basis until 2026. Taxpayers remain responsible for calculating their own gains and losses this year and must report all digital asset income even if they do not receive a Form 1099-DA from exchanges. Early implementation of the new crypto tax reporting rules has created compliance challenges for US investors. An August survey by Awaken Tax found that 21% of respondents were still waiting for exchanges to provide required information, while approximately 20% reported receiving incomplete 1099-DA forms or expressed uncertainty about whether the forms accurately reflected their transactions.