What is Form 1099-DA?
Form 1099-DA is the United States tax form called "Digital Asset Proceeds From Broker Transactions". A broker sends a copy to you and a copy to the Internal Revenue Service (IRS) after you sell, exchange or otherwise dispose of digital assets through that broker. It works like the forms US investors already get for stock sales, but it is built for crypto.
The form is part of a wider push to make digital asset activity easier for tax authorities to match against tax returns. The IRS issued final broker reporting regulations in July 2024. Under them, brokers report gross proceeds for transactions on or after 1 January 2025 and report cost basis for certain transactions on or after 1 January 2026.
This page describes the US rules as published by the IRS. They apply to US taxpayers and US brokers. Readers elsewhere, including in Türkiye, follow their own local rules and should check with a qualified adviser.
This page is general education, not tax, legal or investment advice. Rules and forms change, so confirm details on IRS.gov or with a US tax professional before you file.
Who must file it and who receives it
The filer is a broker. The IRS instructions define a broker as a person who, in the ordinary course of a trade or business, stands ready to effect sales of digital assets for others. The final regulations cover operators of custodial trading platforms, certain hosted wallet providers, digital asset kiosks and certain processors of digital asset payments. In everyday terms, a custodial Crypto Exchange that holds your assets and executes your trades is the typical filer.
You receive a form if you used a broker to dispose of digital assets. The IRS lists four main cases:
- Selling or exchanging a digital asset for another digital asset.
- Selling a digital asset for US dollars or other currency.
- Using a digital asset to pay for property, goods or services.
- Paying broker transaction costs with digital assets.
Foreign platforms and decentralized services
For 2025, the IRS says the requirements generally apply to US brokers. Trades on a foreign platform may not produce a Form 1099-DA, but the gain or loss is still reportable on your return. Treasury's separate rule for decentralized finance (DeFi) brokers, which do not take possession of assets, was overturned by Congress through a Congressional Review Act resolution that President Trump signed on 10 April 2025. Custodial brokers remain covered.
Smaller sales that may be left out
The IRS 2026 instructions include de minimis exclusions for some asset types. Qualifying stablecoin sales are not reported if aggregate gross proceeds, after transaction costs, do not exceed 10,000 US dollars in the year. Specified NFT sales are not reported at or below 600 dollars, and the same 600 dollar level applies to certain payment processor sales. Brokers may also use optional aggregate methods for these assets.
What the form reports (gross proceeds, cost basis, dates)
Form 1099-DA is generally filed per transaction, much like Form 1099-B, not as one yearly total. Covered short-term sales, covered long-term sales and noncovered sales are generally shown on separate forms. The main boxes in the 2026 form are below.
| Box | What it shows | Why it matters |
|---|---|---|
| 1a to 1c | Asset code, name and number of units | Identifies what you sold and how much |
| 1d and 1e | Dates acquired and sold | Sets short-term or long-term holding period |
| 1f | Proceeds | Gross proceeds, reduced by transaction costs |
| 1g | Cost or other basis | What you paid, if the broker reports it |
| 2 | Basis reported to IRS | Tells you which Form 8949 box to use |
| 9 and 10 | Noncovered security and reason | Broker may not know your true basis |
| 12a and 12b | Units transferred in and transfer date | Applies to assets moved into the broker |
Gross proceeds
Box 1f shows what you received, which can be cash, services, other digital assets or other property. The IRS instructions say proceeds are reduced by transaction fees, commissions and transfer taxes tied to the sale. Brokers must report gross proceeds for all digital asset sales in 2026, with the de minimis exceptions above.
Cost basis and covered assets
Basis is generally what you paid, including fees. Brokers must report basis only for covered securities. The IRS defines these as digital assets acquired after 2025 for cash, stored-value cards, other digital assets or certain property or services, in an account where the broker provides custody, and held there until disposition.
Assets acquired before 2026, or moved in from another wallet or broker, are noncovered. For these the broker may check box 9 and may report basis only voluntarily. If you do not identify which units you sold, the IRS instructions say the default for a broker is generally the earliest units purchased.
Illustration only, with made-up numbers. In March 2026 a customer buys a digital asset in a custodial account for 1,000 US dollars, fees included. In November 2026 they sell it for 1,400 dollars after fees. The broker may report proceeds of 1,400 and basis of 1,000, a gain of 400 dollars held under one year, so short-term.
Key dates and phase-in of reporting
The rollout has been staged. The dates below come from IRS pages and the final regulations, as of 2026, and they are US dates. Check the current IRS instructions before you rely on them.
- 1 January 2025: brokers must report gross proceeds on Form 1099-DA for transactions on or after this date.
- 2025 transitional relief: under Notice 2024-56, brokers who make a good-faith effort to file and furnish correct forms on time face no failure-to-file or failure-to-furnish penalties for 2025 transactions.
- 1 January 2026: basis reporting begins for covered assets.
- 2026 backup withholding: relief for 2025 applies to all transactions, while for 2026 it applies to customers whose name and taxpayer number match IRS records.
For 2025 transactions, the IRS instructions list 17 February 2026 as the date to furnish statements to recipients. The general electronic filing date with the IRS was 31 March 2026, and Form 1099-DA must be filed through the IRS IRIS system, not FIRE. Forms for 2026 transactions follow a similar early 2027 schedule, but check the current instructions for the exact dates.
Some activity has a temporary reporting exception under Notice 2024-57. Brokers need not file on wrapping and unwrapping, liquidity provider transactions, staking, lending, short sales and notional principal contracts until further guidance. The exception does not cover rewards or other compensation earned from them, which may still be taxable to you.
1099-DA vs 1099-B vs 1099-MISC
Several 1099 forms can touch crypto, but each answers a different question. Form 1099-DA covers dispositions of digital assets through brokers. Form 1099-B covers other broker-reported sales, such as stocks and bonds. Form 1099-MISC reports certain other payments, so some crypto income, like prizes or payments for services, could appear on a 1099-MISC or other form depending on the payer.
| Form | Typically reports | Crypto relevance |
|---|---|---|
| 1099-DA | Digital asset sales and exchanges by brokers | Main crypto broker form from 2025 |
| 1099-B | Sales of stocks, bonds and similar securities | Not for digital assets; separate Form 8949 boxes apply |
| 1099-MISC | Certain other payments such as prizes or royalties | May cover some non-sale crypto income |
The IRS instructions say rewards and staking payments are not reported on Form 1099-DA. That does not make them tax-free. Income-type receipts are a separate subject under Crypto Tax.
Form 1099-DA reports disposals, not every taxable crypto event. Receiving a form does not mean it captures all of your taxable activity.
What to do if figures are wrong or missing
Start by comparing the form with your own records. A form can be wrong because of missing transfer history, a mismatched acquisition date or a fee that was not netted out. The IRS cannot correct a broker's form, so it tells taxpayers not to contact it about the error.
If the form has incorrect information
- Contact the issuer named in the Filer box and ask for a corrected form.
- Keep the corrected form and all correspondence with your tax records.
- Do not wait for the correction if your filing deadline is close. Report the correct figures and keep your evidence.
- On Form 8949, if basis on the form is wrong, the IRS instructions say to enter code B in column (f) and the adjustment in column (g).
If you received a form you should not have
Contact the issuer in the Filer box, keep a copy of the form and your correspondence, and do not delay your filing.
If you did not get a form
You still must report your digital asset transactions. The IRS FAQ says you report taxable transactions whether or not you receive a payee statement or information return, and regardless of the amount. A missing form is common with foreign platforms, wallets you control yourself, and sales below the de minimis levels.
Do not assume a missing 1099-DA means nothing is owed. The reporting duty rests on you, and the IRS can compare returns with broker-filed data.
How to report digital asset transactions on a tax return
In the US, digital assets are treated as property. Most investors report each sale or exchange on Form 8949, then summarize totals on Schedule D of Form 1040. The IRS FAQ says the exception is when a broker gives you a Form 1099-DA with gross proceeds and basis information. The same IRS FAQ lists a separate Schedule 1 route for non-business ordinary income from digital assets.
See Capital Gains Tax on Crypto for how gains and holding periods are calculated.
Form 8949 has separate boxes for digital assets. For short-term sales use box G, H or I, and for long-term sales use box J, K or L. The IRS says not to use box C or F for digital assets.
| Situation | Short-term box | Long-term box |
|---|---|---|
| Basis reported to IRS (box 2 checked) | G | J |
| No basis shown, or not reported to IRS | H | K |
| No Form 1099-DA or statement received | I | L |
Form 1040 also asks every filer a digital asset question, which you answer whether or not you had transactions. The IRS explains the question and what counts for the year in the form instructions. Records matter here. A transaction log or P&L (Profit and Loss) Report can help you reconcile broker data to your own history, especially across several wallets and platforms.
Basis tracking by wallet
From 2025, basis tracking is tied to wallets and accounts. Rev. Proc. 2024-28 gives a safe harbor for reasonably allocating unused basis from before 2025 to the units remaining in each wallet or account on 1 January 2025.
For units in a wallet you control, you may identify which units you sold if you do so no later than the transaction and keep adequate records. Without that, the IRS says units are treated as sold earliest first.
Holding digital assets in tax-advantaged accounts, such as a Crypto IRA, is governed by different rules from ordinary broker accounts. Ask the account custodian and a tax professional how reporting works for that account.
Frequently asked questions
What is Form 1099-DA?
Form 1099-DA is a US IRS information return that digital asset brokers use to report your sales and exchanges of cryptocurrency, NFTs, stablecoins and similar assets. The broker sends one copy to you and one to the IRS. It shows gross proceeds and, for covered assets acquired after 2025, cost basis. It applies to US taxpayers and brokers, and other countries follow their own rules.
Who gets a 1099-DA?
You generally get one if you used a US broker to sell a digital asset for cash, trade it for another digital asset, spend it on goods or services, or pay broker fees with digital assets. Small sales below de minimis levels, some foreign platform trades, and activity with no broker may produce no form. You may still owe reporting on your return.
When will 1099-DA forms be issued?
For 2025 transactions, the IRS instructions set 17 February 2026 as the date to furnish forms to recipients, with electronic filing to the IRS by 31 March 2026. Forms for 2026 transactions should follow a similar early 2027 schedule, but confirm the exact dates in the current IRS instructions. Corrected forms can arrive later.
Do I need to report crypto if I do not get a 1099-DA?
Yes, for US tax purposes. The IRS says you must report taxable digital asset transactions for the year they occur, whether or not you receive a payee statement or information return, and regardless of the amount. A missing form does not remove the duty. Check your own records and ask a qualified US tax professional if unsure.
How is cost basis reported on a 1099-DA?
Box 1g shows cost or other basis, and box 2 shows whether basis was reported to the IRS. Brokers must report basis for covered assets, meaning those acquired after 2025 in the broker's custody and held there. For older or transferred-in assets, basis may be missing or voluntary, and box 9 may be checked. You calculate your own basis in those cases.
Related terms
- Crypto Tax
- Capital Gains Tax on Crypto
- Crypto Exchange
- P&L (Profit and Loss) Report
- Crypto IRA
Sources
- Understanding your Form 1099-DA Internal Revenue Service
- About Form 1099-DA, Digital Asset Proceeds From Broker Transactions Internal Revenue Service
- Instructions for Form 1099-DA (2026) Internal Revenue Service
- Final regulations and related IRS guidance for reporting by brokers on sales and exchanges of digital assets Internal Revenue Service
- Frequently asked questions about broker reporting Internal Revenue Service
- Frequently asked questions on digital asset transactions Internal Revenue Service
- General Instructions for Certain Information Returns Internal Revenue Service
- Instructions for Form 8949 Internal Revenue Service
- IRS: Updates to question on digital assets; taxpayers should continue to report all digital asset income Internal Revenue Service
- President Trump Signs Ways and Means Resolution Overturning Biden Administration's Burdensome IRS DeFi Broker Rule House Committee on Ways and Means
This glossary entry is for general information and education only. It is not investment, tax or legal advice. Crypto assets are high-risk; check official sources before you act.