The 1099-DA Mismatch That Could Trigger an IRS Audit

<p>Crypto exchanges may report a transaction as short-term or long-term based on when the asset was transferred onto the exchange.</p><p>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.</p><p><br></p><p><strong>In this episode, Clinton Donnelly explains:</strong></p><ul><li>Why exchanges may not know your true cost basis</li><li>How wallet transfers can affect 1099-DA reporting</li><li>Why a long-term holding may appear as short-term</li><li>How the IRS compares exchange-reported proceeds with your tax return</li><li>What can trigger IRS correspondence or an audit</li></ul><p><strong>Learn more:</strong><br><a href="https://www.cryptotaxaudit.com/" target="_new" rel="noopener"><strong>https://www.cryptotaxaudit.com/</strong></a><strong></strong></p><p><br></p><p><strong>Disclaimer:</strong> 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.</p>