What is Form 1099-DA for crypto?
Form 1099-DA is the IRS form brokers send for crypto sale proceeds. It reports gross proceeds from tax year 2025, not buying, holding, or your gain.
Vahe HakobyanEditor-in-chief
Updated Oct 6, 20263 min readFact-checked
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The Infrastructure Investment and Jobs Act of 2021 created Form 1099-DA. The IRS released final rules on June 28, 2024.
What is Form 1099-DA?
Form 1099-DA collects information about digital asset sales and exchanges.
Which crypto transactions are covered?
The form covers crypto sales and other disposals, such as trading one crypto for another. It does not cover buying, holding, or moving crypto to your own wallet. Staking, mining, or airdrop income is not on this form.
Who must send Form 1099-DA?
Digital asset brokers must send Form 1099-DA. Hosted platforms and custodial exchanges usually send it; unhosted wallets may not.
- Custodial exchanges that hold your crypto.
- Hosted wallet providers that act as brokers.
- Trading platforms that handle sales.
What should I do with the form?
The form helps you report gains or losses, but it does not decide whether you owe tax. Compare it with your records. Report any digital asset transactions even with no gain or loss.
What tax years and basis rules apply?
The first Form 1099-DA reports cover tax year 2025. For tax year 2026, brokers must also report cost basis for covered securities. Early forms may omit basis, so the amount may not equal your gain.
Frequently asked questions
Yes, usually. The IRS treats crypto as property, so a swap is a disposal, and you report any gain or loss. A broker may send Form 1099-DA for the proceeds.
You still must report the sale on your return. Use your records and Form 8949. Not getting the form does not make the sale tax-free.
That income is generally ordinary income when you receive it. It is not on Form 1099-DA. Report it on your return.
