The Digester

New IRS Form 1099-DA Will Change How Crypto Is Reported on 2026 Taxes

Mar 20th 2026

The IRS is rolling out Form 1099-DA for digital asset broker transactions in 2025, standardizing gross proceeds reporting and changing when cost basis must appear on forms for the 2026 filing season.

  • Form 1099-DA is the new IRS form for digital asset broker transactions in 2025 and you should expect it in early 2026.
  • Brokers must report gross proceeds for 2025 transactions but cost basis is optional for 2025 and becomes required for trades on or after Jan 1, 2026.
  • Custodial exchanges, payment processors and hosted wallets that take possession of assets are treated as brokers and will send 1099-DA, while noncustodial DeFi and self custody may not be required to report until 2027.
  • You are still required to report all crypto income and gains on your tax return even if you do not receive a 1099-DA.
  • Keep detailed records because a missing cost basis on 1099-DA can overstate your taxable gains and you must prove basis to lower taxes.
  • Key dates: Dec 31, 2025 is the cutoff for the 2025 tax year; Jan 1, 2026 starts mandatory cost basis reporting for new trades; Feb 17, 2026 brokers must provide taxpayers a receipt; Mar 31, 2026 is the brokers e-file deadline.

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