What is Form 1099-DA?

  Form 1099-DA is an IRS information return used to report gross proceeds from transactions involving digital assets, such as cryptocurrencies, stablecoins, and certain non-fungible tokens (NFTs). 

• Digital asset brokers, exchanges, and platforms must file this form for transactions beginning with the 2025 tax year.

  • Optional filing: For 2025 tax year transactions, reported in 2026.

  • Mandatory filing: Starting with the 2026 tax year transactions (filed in 2027).

• This form is similar to Form 1099-B, which reports transactions involving stocks, bonds, and other securities.

• It serves as the official method for reporting the sale, exchange, or transfer of digital assets. 

Brokers and exchanges are required to provide both the IRS and the recipient with this information to ensure proper taxation of any gains or losses.