Forbes: Crypto assets are entering a "watershed" tax year; the complexity of the 2026 tax season is significantly increasing.

According to Odaily Planet Daily, with 2026 approaching, crypto investors will soon face a tax environment drastically different from the past. Several digital asset tax experts point out that new regulations and reporting rules will make the 2026 tax season (corresponding to 2025) a "high-difficulty hurdle," and investors may face compliance risks if they lack advance planning.

The report points out that the most significant change lies in the implementation of Form 1099-DA. Starting in 2025, U.S. brokers will be required to report information on the disposal of crypto assets to the IRS, and this form will first appear on a large scale to taxpayers in 2026. Since initial reports will primarily focus on the "total transaction amount" and may not necessarily include the cost price, if investors fail to accurately declare their costs, the system may default to treating it as "zero cost," thus triggering automatic inquiries.

Furthermore, the tax calculation method will shift from the previous "unified pool" approach to calculating costs separately for each wallet and account. This means that assets from different exchanges and different self-custodied wallets can no longer be mixed for calculation, and the collation and reconstruction of historical transaction records will become a one-time but extremely labor-intensive task. This complexity is particularly pronounced for users with multiple accounts and frequent participation in DeFi.

Forbes also summarized other key considerations, including:

Users on multiple platforms need to integrate various 1099-DA data with on-chain data themselves;

Tax professionals with encryption experience are scarce; make an appointment as early as possible.

Under current laws, crypto assets are not subject to stock "wash trading rules," but relevant legislation may change this situation.

Tax exemption for small payments (de minimis) has not yet been passed by legislation;

The tax implications of DeFi lending and certificate-based tokens need to be determined on a case-by-case basis.

Large-scale cryptocurrency donations typically still require a compliance assessment report.

The report, citing industry insiders, states that 2025 will be a true "watershed" year for crypto tax rules, with their impact becoming most apparent in 2026. Preparing notes and understanding the new rules in advance, and collaborating with tax advisors familiar with digital assets, will be crucial for investors to avoid compliance risks. (Forbes)