What Form 1099-DA reports
Form 1099-DA, Digital Asset Proceeds From Broker Transactions, standardizes how custodial digital asset brokers, ones that hold your assets on your behalf, report sales, exchanges, and other dispositions of digital assets to both you and the IRS, similar to how a brokerage reports stock sales on Form 1099-B.
Who sends it and when
Form 1099-DA must be sent by Feb. 17 for transactions from the prior calendar year by custodial brokers, including:
- Centralized exchanges
- Hosted wallet providers
- Crypto payment processors
Decentralized, noncustodial platforms fall outside the current reporting rules, so trades made there won’t generate this form.
What changed between tax year 2025 and 2026
| Security type | What’s reported | What’s not |
|---|---|---|
| Noncovered (acquired before 2026, or not held continuously at one broker) | Gross proceeds | Cost basis, acquisition date |
| Covered (acquired on or after January 1, 2026 and held continuously at the same broker) | Gross proceeds and cost basis | — |
Source: Internal Revenue Service
For 2025 transactions, your form will likely show box 9, noncovered security, checked, meaning the broker reported your proceeds but not what you paid for the asset.
Reporting Form 1099-DA on your return
You carry the figures from Form 1099-DA onto Form 8949, the form for listing each sale individually, to reconcile proceeds and basis, then summarize the totals on Schedule D (reports capital gains and losses), which flows into Form 1040. If your broker didn’t report your basis, you’ll need your own purchase records to calculate your gain or loss accurately.
What if you don’t receive one
Not every transaction generates a Form 1099-DA. Sales on foreign exchanges or through noncustodial platforms may go unreported entirely. Not receiving a form doesn’t remove your obligation to report taxable gains or losses from digital asset sales you made during the year.
