Thomson Reuters and Ledgible Partner to Simplify Digital Asset Tax Reporting for Businesses

Thomson Reuters (TSX/Nasdaq: TRI), a global content and technology company, announces a partnership with Ledgible, the leading platform for digital asset tax and accounting. The partnership integrates Ledgible’s digital asset tax expertise with Thomson Reuters ONESOURCE Tax Information Reporting (OTIR) platform. The combined solution automates transaction tracking, cost basis reporting, and regulatory compliance for cryptocurrency transactions.

OTIR streamlines the process of filing Tax Information Reporting to the IRS, the States and localities allowing mass reporting to be handled in an automated way. Ledgible streamlines digital asset tax compliance with an API-driven solution that automates digital assets transaction normalization, cost basis tracking, and crypto accounting.

Built on the trusted Thomson Reuters tax infrastructure, OTIR reduces risk, ensures Crypto Brokerage reporting and the new Form 1099-DA readiness, and integrates seamlessly with platforms like Ledgible—delivering accurate, future-proof reporting with less manual effort.

“The digital asset landscape is evolving rapidly, and our clients need robust, reliable solutions to navigate the complexities of tax compliance,” said Ray Grove, Head of Product, Tax and Trade at Thomson Reuters. “Our partnership with Ledgible directly addresses this need, particularly with the impending new crypto brokerage reporting and Form 1099-DA requirements. By combining Ledgible’s deep expertise in digital asset tax and accounting with the comprehensive capabilities of Thomson Reuters ONESOURCE Tax Information Reporting, we are providing a proven powerful solution that simplifies a highly intricate process, minimizes risk, and ensures our customers are prepared for upcoming regulatory changes.”

The partnership addresses new IRS requirements for Crypto Brokerage reporting including the new Form 1099-DA, which digital asset brokers must use starting in 2025 to report cryptocurrency transactions. By combining Ledgible’s digital asset expertise with Thomson Reuters tax compliance technology, businesses can automatically pull crypto data from the various sources, normalize it, calculate cost basis, track tax lots, and report required information to the IRS and the states, reducing manual work and ensuring compliance with evolving regulations.

“Our mission at Ledgible is to simplify digital asset tax and accounting, and this partnership with Thomson Reuters marks a significant step forward in achieving that goal,” said Kell Canty, CEO of Ledgible. “By combining our specialized expertise in digital asset cost basis and tax reporting with Thomson Reuters industry-leading tax compliance infrastructure, we are providing an unparalleled solution. This will empower businesses to confidently meet the stringent demands of the crypto brokerage reporting regulations and the new Form 1099-DA, ensuring accuracy and reducing compliance burdens for our joint customers.”

This collaboration represents one of many strategic technology partnerships Thomson Reuters is pursuing to enhance product capabilities and deliver next-generation solutions that address our customers’ most pressing challenges.