[Federal Register Volume 89, Number 194 (Monday, October 7, 2024)]
[Notices]
[Pages 81151-81152]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-23118]


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DEPARTMENT OF THE TREASURY


Agency Information Collection Activities; New Proposed 
Information Collection Request; Request for Comments; Digital Asset 
Proceeds From Broker Transactions

AGENCY: Departmental Offices, U.S. Department of the Treasury.

ACTION: Notice.

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SUMMARY: The Internal Revenue Service, as part of its continuing effort 
to reduce paperwork and respondent burden, invites the general public 
and other Federal agencies to take this opportunity to comment on 
continuing information collections, as required by the Paperwork 
Reduction Act of 1995. The IRS is soliciting comments concerning 
information collection requirements related to digital asset proceeds 
from broker transactions.

DATES: Comments should be received on or before November 6, 2024 to be 
assured of consideration.

ADDRESSES: Written comments and recommendations for the proposed 
information collection should be sent within 30 days of publication of 
this notice to www.reginfo.gov/public/do/PRAMain. Find this particular 
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.

FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be 
obtained from Melody Braswell by emailing <a href="/cdn-cgi/l/email-protection#5303011213272136322026212a7d343c25"><span class="__cf_email__" data-cfemail="5404061514202631352721262d7a333b22">[email protected]</span></a>, calling 
(202) 622-1035, or viewing the entire information collection request at 
www.reginfo.gov.

SUPPLEMENTARY INFORMATION:

Internal Revenue Service (IRS)

    Title: Digital Asset Proceeds from Broker Transactions.
    OMB Number Control No.: 1545-NEW.
    Form Numbers: 1099-DA.

[[Page 81152]]

    Abstract: Form 1099-DA is used by brokers to report proceeds from 
(and in some cases, basis for) digital asset dispositions to taxpayers 
and to the IRS (Internal Revenue Code section 6045(a)). Taxpayers may 
be required to recognize gain from these dispositions of digital 
assets. Reporting is also required when brokers know or have reason to 
know that a corporation in which a taxpayer owns digital assets, that 
is also stock, has had a reportable change in control or capital 
structure. Taxpayers may be required to recognize gain from the receipt 
of cash, services, digital assets, or other property that was exchanged 
for a digital asset that is also the corporation's stock.
    Type of Review: New collection.
    Affected Public: Business or other for-profit organizations, 
individuals or households, and not-for-profit institutions.
    Estimated Number of Respondents: 5,300.
    Estimated Number of Responses per Respondents: 2,736.
    Estimated Time per Response: 0.15 hours.
    Estimated Total Annual Burden Hours: 2,252,500 hours.
    Authority: U.S.C. 3501 et seq.

Melody Braswell,
Treasury PRA Clearance Officer.
[FR Doc. 2024-23118 Filed 10-4-24; 8:45 am]
BILLING CODE 4830-01-P


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