What is Form 1099-DA?
The new IRS form for crypto sales, explained.
Form 1099-DA is the information return digital asset brokers file to report sales and exchanges of digital assets for customers. Sources: IRS newsroom: final regulations, About Form 1099-DA.
Timeline
- Brokers must report gross proceeds for transactions on or after Jan 1, 2025 (so the first forms covered 2025 sales and went out in early 2026).
- Brokers must report basis on certain transactions on or after Jan 1, 2026 (forms for those sales arrive in early 2027).
- For 2025 sales, basis reporting was not required (2025 Instructions).
Key boxes
Per the 2026 Instructions: box 1g is cost or other basis; box 9 is checked for noncovered securities (basis may then be left blank); proceeds and other boxes are described in the same instructions. Read the instructions for the full list.
Transitional relief (Notice 2024-56)
- For 2025 transactions, no penalties on brokers for failure to file/furnish if they make a good-faith effort.
- Backup withholding relief for all 2025 transactions; for 2026, relief where the broker TIN-matches the customer successfully.
Source: Notice 2024-56. This relief is for brokers; it doesn't change your own duty to report correctly.