Form 1099-DA Explained: Crypto Tax Reporting in 2026
What Form 1099-DA is, who receives it, what it reports, how to use it for filing, and what to do if it's wrong or missing — the complete guide for 2026.
2026 is the first year that cryptocurrency exchanges are required to issue Form 1099-DA to US taxpayers and the IRS. This brings crypto tax reporting in line with stocks and securities for the first time — and means the IRS now receives an automatic record of your transactions.
Here's what the form contains, who gets it, what it means for your filing, and what to watch out for. This guide covers the US-specific form; for other countries, see our general crypto tax guide.
What Is Form 1099-DA?
Form 1099-DA (Digital Asset Proceeds from Broker Transactions) is an IRS information return that reports:
- Gross proceeds from each sale, swap, or disposal of digital assets
- Date of transaction
- Type of digital asset (Bitcoin, Ethereum, etc.)
- Quantity disposed
- Cost basis (when available — see limitations below)
It is sent to both the taxpayer and the IRS, similar to how Form 1099-B works for stock transactions.
Who Sends It?
Centralised exchanges and brokers operating in the US are required to issue 1099-DA. This includes:
- Coinbase
- Kraken
- Gemini
- Crypto.com
- Robinhood (crypto portion)
- Other US-regulated exchanges and brokers
Who does NOT send it (yet)?
- Decentralised exchanges (Uniswap, SushiSwap, etc.) — DEX reporting requirements are still being finalised
- Non-US exchanges — though CARF (the OECD's global framework) will bring international reporting starting 2027
- Peer-to-peer transactions
- Self-hosted wallets
What the Form Looks Like
Key fields on Form 1099-DA:
| Box | Description | Notes |
|---|---|---|
| 1a | Description of property | e.g., "0.5 BTC" or "Bitcoin" |
| 1b | Date acquired | May be blank if unknown to the broker |
| 1c | Date sold or disposed | The transaction date |
| 1d | Proceeds | Fair market value in USD at the time of disposal |
| 1e | Cost or other basis | May be blank — see cost basis section below |
| 1f | Gain or loss | Only if both proceeds and basis are reported |
| 7 | Check if short-term or long-term | Based on holding period |
The Cost Basis Problem
This is the biggest issue with 1099-DA in its first year. Exchanges can only report cost basis for assets that were acquired on that same exchange. If you:
- Transferred crypto in from another exchange
- Transferred crypto in from a personal wallet
- Received crypto from mining, staking, or airdrops
- Used multiple exchanges over the years
...the exchange likely does not know your original cost basis. The form may show blank cost basis or report it as $0, which would make it look like your entire sale is a gain.
What to do
- Do not just accept the 1099-DA figures if cost basis is missing or wrong
- Use crypto tax software to calculate your actual cost basis across all exchanges and wallets
- Report the correct figures on Form 8949, with a note explaining any discrepancy from the 1099-DA
- Keep records of your original acquisitions in case the IRS questions the discrepancy
How to Use 1099-DA When Filing
- Collect all 1099-DA forms from every exchange you used
- Compare the reported proceeds against your own records
- Calculate your actual cost basis for each transaction (the form may not have this)
- Report each transaction on Form 8949
- Summarise totals on Schedule D
- Reconcile any differences between the 1099-DA and your calculations — document why
Common Issues
Duplicate reporting
If you transferred crypto between exchanges, both exchanges might report the transfer — one as a "disposal" and one as an "acquisition." This can lead to double-counted transactions. Review carefully and remove duplicates.
Missing transactions
DEX trades, DeFi activity, and peer-to-peer transactions won't appear on any 1099-DA. You are still required to report them. Crypto tax software can import these from on-chain data.
Incorrect proceeds
The exchange may use a different timestamp or price source than you expect. Small discrepancies are common. For material differences, contact the exchange.
What If You Don't Receive a 1099-DA?
Not receiving a form does not mean your transactions are not taxable. You still must report:
- All trades on exchanges that didn't issue the form
- All DEX and DeFi transactions
- All peer-to-peer sales
- All income from mining, staking, and airdrops
The IRS has blockchain analytics tools and can trace on-chain activity. See our guide on what happens if you forgot to report.
For Non-US Countries
Form 1099-DA is a US-specific form, but other countries are implementing similar reporting:
- OECD CARF — The Crypto-Asset Reporting Framework will enable automatic exchange of crypto transaction data between 50+ countries starting 2027
- UK — HMRC receives data from UK exchanges and is preparing for CARF
- Australia — The ATO already runs data-matching programs with exchanges
- India — 1% TDS on all exchange transactions creates an automatic paper trail
- Canada — The CRA has issued data requests to Canadian exchanges
- Germany — BaFin oversight increasing; CARF adoption planned
Recommended Tools
These tools can import your 1099-DA data and combine it with off-exchange transactions to calculate your actual tax:
- Koinly — imports from 800+ exchanges, generates Form 8949, handles cost basis across platforms
- CoinTracking — detailed transaction matching, supports 1099-DA reconciliation
- CoinLedger — integrates with TurboTax and H&R Block, auto-imports exchange data
Frequently Asked Questions
Disclaimer: This guide is for informational purposes only and does not constitute tax, legal, or financial advice. Cryptocurrency tax rules change frequently and vary by jurisdiction. Always consult a qualified tax professional for advice specific to your situation.