Form 1099-DA is live for crypto exchanges. Understand gross proceeds reporting, 2026 cost basis rules, the $0 basis default, DeFi gaps, and what to do now.
IRS finalizes Form 1099-DA rules requiring brokers to report digital asset gross proceeds starting 2025, with cost basis reporting phased in for 2026.
Form 1099-DA reporting is live and basis reporting began in 2026 — while the DeFi broker rule stays repealed. What US brokers and taxpayers must do.
The 2025 tax year is the first under IRS digital asset sale and exchange regulations. Here’s what crypto traders, exchanges, and DeFi users need to know about Form 1099-DA and wallet-by-wallet basis rules.
We use cookies to enhance your experience, analyze site traffic, and for marketing purposes. Learn more about how we use cookies
These cookies are necessary for the website to function and cannot be switched off. They are usually set in response to actions you take, such as setting your privacy preferences, logging in, or filling in forms.
These cookies help us understand how visitors interact with our website by collecting and reporting information anonymously.
These cookies may be set through our site by our advertising partners to build a profile of your interests and show you relevant ads on other sites.
You can choose to accept all cookies or only essential cookies. You can also change your preferences at any time by clearing your browser cookies and revisiting our site.
For more information about your privacy rights, please see our Privacy Policy.