If you sell something and make money off that sale, you can be taxed for it. It’s a fairly obvious observation but one that can be forgotten in the convoluted age of meme coins and digital marketplaces. A new tax form coming for 2025 tax season offers a bit of clarity to the profitable world of virtual dollars, crypto currencies, stablecoins, and NFTs: The 1099-DA (for “Digital Asset”) is coming to help keep track of the money made from all of the above. But don’t wait for it — you’re on the hook now for, let’s say, nontraditional profits you make, whether in crypto, Roblox, or, well, anywhere.
In other words, the 1099-DA form does not mean there’s a change in tax code. Nor does it mean you’re going to get away with tax-free gains from virtual assets in 2024. And despite everyone’s tendency to lump anything digital with the nearly $300 billion-dollar gaming industry, no, this is not the beginning of a “Roblox tax.” Most of the time gaming marketplaces happily remain tax-free oases. But some of the time, you could be on the hook.
