What is a Form 1099-DA and why did I get one?

As tax season gets underway, you might find a new tax form in your mailbox (or email inbox!) if you made certain digital asset transactions in 2025. The new Form 1099-DA is all about reporting digital asset activity. That includes crypto, stablecoins, and other tokenized assets.

If you got one of these forms, it means you did something with your digital assets—like selling, exchanging, redeeming, or even using them to pay for something.

Keep in mind, digital assets and crypto taxes can get complex and not all transactions are taxable. But if you’ve received this form, you’re required to report your activity to the IRS.

Read on and we’ll help you understand everything you need to know about 1099-DA and 1099-DA reporting. And, when it comes time to report your 1099 crypto income (such as Ethereum or Bitcoin income), Block has the expertise to help you every step of the way!

What is Form 1099-DA?

Form 1099-DA reports transactions of cryptocurrencies, stablecoins, and non-fungible tokens (NFTs) through U.S.-based brokerage platforms.

The IRS has always required that taxpayers report this type of activity, but the process relied heavily on self-reporting as documentation was inconsistent. The new form was created to help make reporting digital asset transactions simpler and more consistent, helping investors avoid mistakes or missing information on their tax returns.

Who receives a 1099-DA — and who doesn’t?

You’ll get a 1099-DA form if you:

• Sold crypto or other digital assets
• Exchanged one digital asset for another
• Redeemed digital assets for cash or other property
• Paid for goods or services where a broker is involved

You won’t get one if you:

• Bought assets
• Held your assets without selling
• Moved assets between your own wallets
• Received crypto as a gift

Bottom line, if you were actively selling or exchanging your digital assets, you should receive the form. If you were just holding, you’re probably off the hook. Unlike some informational tax forms, there’s no minimum amount to trigger Form 1099-DA.

1099-DA vs. 1099-B vs. 1099-MISC: What’s the difference?

You may know that there are several types of 1099 forms and a lot of them have to do with investments. Before the introduction of Form 1099-DA, there wasn’t a dedicated form for digital activity. As a result, some platforms used other forms to provide digital asset tax information, even though they weren’t specifically designed for it.

Here’s a quick rundown of relevant 1099 forms:

• 1099-DA: Reports sales of digital assets (crypto, stablecoins, etc.). This new form is dedicated to reporting digital asset activity.
• 1099-B: Reports sales of stocks, bonds, and other securities. In recent years, platforms may have used Form 1099-B to report your crypto sales.
• 1099-MISC: Reports miscellaneous income like rent, prizes, or legal settlements. In some cases, platforms used this form to report income from crypto activities such as staking.

What if you didn’t get a 1099-DA — do you still need to report?

Yes, you do need to report your applicable transactions even if you didn’t get a form. The IRS expects you to report capital gains or losses from selling or exchanging digital assets, whether or not a form shows up in your mailbox.

What do these boxes mean on my form 1099-DA?

The boxes on your 1099-DA form contain the details you’ll need to report your digital asset transactions. Like many tax documents, there’s a hefty amount of tax jargon.

To help demystify the form, here are a few definitions:

• Gross proceeds: The total amount you received from selling or exchanging digital assets.
• Net proceeds: What you got after fees or commissions.
• Noncovered security: Assets that your broker is not required to report on Form 1099-DA. An example of a noncovered security is one where the broker did not provide custodial services (i.e., they never had possession of the asset).
• Covered security: Assets that your broker is required to report on Form 1099-DA because they provided custodial services, for example they hosted your wallet where the asset was stored. Brokers for digital assets with covered status in 2026 or after will have to report basis information.  

Are you taxed on the proceeds from form 1099-DA?

 The amount shown as proceeds may be subject to tax, but you may not owe taxes on the full amount. Essentially, you’re only taxed on your capital gains, which is the difference between what you sold the asset for and your cost basis. If you had a capital loss, the proceeds aren’t taxable.

Cost basis for crypto and digital assets

For digital assets (similar to other investments), your cost basis is generally the amount you paid for the asset plus the cost of any commissions or transaction fees.

Take note: For the 2025 tax year (forms issued in 2026), brokers are not required to report cost basis to the IRS, so you may likely need to calculate this yourself. Learn more about cost basis methods and find examples in our cost basis article.

Does Form 1099-DA include cost basis?

Your broker may include cost basis, but the IRS doesn’t require cost basis to be reported on Form 1099-DA for tax year 2025. Cost basis reporting is scheduled to begin with 2026 transactions, meaning the first Form 1099-DA sent out with basis data will arrive in early 2027.

What do I do if my form 1099-DA doesn’t include cost basis information?

If you don’t see cost basis on your 1099-DA form, you’ll need to calculate it yourself. That means digging into your records or transaction history to figure out how much you paid for the assets you sold. And, you’ll want to account for any commissions or fees that you paid.

It’s a bit of work, but it’s important for accurate reporting and for your bottom line. Here’s why.

Knowing your cost basis helps you report accurately and avoid paying more than you should.

Here’s a simplified crypto cost basis example:

Let’s say you bought $1,000 for a certain amount of crypto currency and later sold it for $1,200. In this scenario, you made $200 (a capital gain), so that amount is subject to taxes.

However, if you didn’t account for your cost basis (the $1,000), then you could potentially pay taxes on the entire $1,200. 

Who sends Form 1099-DA?

Crypto exchanges and other brokers that handle digital asset transactions are responsible for sending the form. If you used more than one platform, you might get multiple forms.

When will I receive a Form 1099-DA?

Your broker is required to send Form 1099-DA by one of two dates each tax year:

• January 31 if the form does not have information reported in box 8 or 10.
• February 15 if the form does have information reported in box 8 or 10.

If you’re used to getting your tax forms sent by the end of January, it’s important to wait to receive your 1099-DA form before you file.  You’ll need it to accurately report your activity and waiting for it can help you avoid the need to file an amendment to your return.

What if I sold crypto but never got a 1099-DA—am I still required to report it?

Yes. You must report all taxable crypto transactions, even if you didn’t receive a 1099-DA. The IRS requires taxpayers to report gains and losses from digital asset sales even if a form was not sent.

Keep in mind:

• The final mail date for these forms is mid-February, so it’s a good idea to check to see if one was mailed or emailed. Or, if your broker has an online portal, check there for a digital copy.
• Some brokers might not send the form in 2025 if they have permission from the IRS.

Can I still file my crypto taxes without a 1099-DA?

You might, but it’s best to have the form. Your broker may provide alternate information if they aren’t sending Form 1099-DA. Be sure to check with your broker to see if they have other documentation (ex. transaction history) or if they simply have not yet sent their forms. If they are issuing a form, you’ll want to prepare your taxes from that information versus using your transaction history.  

How to report crypto from a 1099-DA on your taxes

Here’s how to do report your crypto transactions from a 1099-DA step-by-step. Tip: find out below how Block can do it for you.

1. Gather your documents: Have your Form 1099-DA and your own detailed records of all cryptocurrency transactions (purchase dates, prices, etc.) on hand.
2. Use Form 1099-DA to complete Form 8949: The 1099-DA provides all the details needed to fill out a Form 8949:
3. Column (a) and (b): Enter the name and quantity of the digital asset sold.
   • Column (c): Enter the date of disposition (sale date) from your1099-DA form.
   • Column (d): Enter the gross proceeds (sale price) from your 1099-DA form.
   • Column (e): Enter your cost basis (original purchase price plus fees). You may need to calculate this on your own if not provided (see Cost basis for crypto above)
   • Column (f): Enter any adjustments (e.g., wash sales, if applicable).
   • Column (g): Calculate and enter your gain or loss (Column (d) + Column (f) – Column (e)).
4. Summarize on Schedule D: Transfer the total gains and losses from Form 8949 to Schedule D (Form 1040).
5. File with Form 1040: Attach both Form 8949 and Schedule D to your main income tax return, Form 1040

 
You can always rely on the expertise of H&R Block to help report your 1099-DA income.  Whether you choose to work with a tax pro or file on your own with H&R Block Online, we’re here to make it easy.  Find out more about how H&R Block helps you report crypto.

File crypto taxes with H&R Block (even if you weren’t sent a form)

Reporting your digital assets on your tax return can get tricky—especially if your broker is not sending a form for the 2025 tax year. Be sure to rely on trusted expertise for help.

Whether you choose to file with a tax pro or file with H&R Block Online, you can rest assured that we’ll get your max refund. 

1099-DA Form FAQs

Do I have to file taxes if I received a 1099-DA?

Yes. Receiving Form 1099-DA means a broker reported your digital asset sales to the IRS. You must include those transactions on your tax return, even if the form doesn’t result in a taxable gain. The IRS treats crypto as property, so any sale, or exchange is potentially taxable.

Which crypto exchanges will issue Form 1099-DA in 2025?

Starting January 1, 2025, custodial brokers—including platforms like Coinbase, Kraken, and Gemini—are required to issue Form 1099-DA for qualifying transactions. Non-custodial platforms (like Uniswap or MetaMask) and decentralized exchanges (DEX) are exempt until further guidance is issued.

Will Form 1099-DAs be issued for years before the 2025 tax year?

No. Form 1099-DA reporting begins with transactions occurring on or after January 1, 2025. You won’t receive a 1099-DA for prior years, but you would have been responsible for reporting past crypto sales on your tax return.