Form 1099-DA is due in early 2026. Digital asset brokers must report transactions involving digital assets that occurred in the 2025 calendar year. Form 1099-DA must be provided to the IRS, applicable state agency and recipient.
1099-DA
Digital Asset Proceeds From Broker Transactions
Understanding Form 1099-DA
With the rise of digital assets like cryptocurrencies and NFTs, the IRS has introduced Form 1099-DA to ensure proper reporting and taxation of these transactions. This form is a crucial development for both digital asset brokers and taxpayers involved in the digital economy.
Who Needs to File?
Form 1099-DA is a new IRS form that will be required starting in 2025. It is specifically for reporting transactions involving digital assets, such as cryptocurrencies and non-fungible tokens (NFTs).
Those that need to file include digital asset brokers, including digital asset trading platforms, payment processors, hosted wallets, and others that trade digital assets to report digital asset transactions. Reporting starts in 2025, with filings due in 2026.
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December 30, 2024
Understanding Form 1099-DA: A Comprehensive Guide to Filing for Digital Asset Transactions
As the use of digital assets like cryptocurrencies and non-fungible tokens (NFTs) continues to grow, so does the need for clear tax reporting guidelines. To address this, the IRS has introduced Form 1099-DA, which will be required starting in 2025.
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