The Treasury Department has no plans to delay basis reporting for brokers of crypto transactions another year, an official said.

The IRS and Treasury in 2024 released final regulations on phased-in reporting requirements for brokers of digital asset transactions. Starting Jan. 1 2025, brokers were first required to report gross proceeds for transactions on the new 1099-DA, which is an information reporting form brokers must send to the IRS and to taxpayers to help determine how much they owe.

To give brokers more time to set up their systems, the agencies delayed the requirement for brokers to start reporting basis …