Deloitte's Rob Massey explains Bitcoin tax rules and why broker 1099s are incomplete

Rob Massey of Deloitte, advising on crypto taxes since 2012, explains that using Bitcoin as money creates new reporting requirements under the self-assessment system. Broker 1099s will never provide the full picture, and no de minimis exemption has passed, meaning all transactions must be reported. He also notes that paying a plumber with Bitcoin is taxable and the IRS can see on-chain activity.