The 1099-DA Mismatch That Could Trigger an IRS Audit

Crypto exchanges may report a transaction as short-term or long-term based on when the asset was transferred onto the exchange.That can create a reporting mismatch when crypto was bought elsewhere, moved through private wallets, and held for more than a year before being sold.In this episode, Clinton Donnelly explains:Why exchanges may not know your true cost basisHow wallet transfers can affect 1099-DA reportingWhy a long-term holding may appear as short-termHow the IRS compares exchange-reported proceeds with your tax returnWhat can trigger IRS correspondence or an auditLearn more:https://www.cryptotaxaudit.com/Disclaimer: This episode is for educational purposes only and does not constitute tax, legal, investment, or financial advice. Consult a qualified tax professional about your individual situation.