What Is Form 1099-DA and Why Did I Get One?

You received a Form 1099-DA from a crypto exchange or another digital asset broker. It shows a sale or other disposition, but the cost basis may be blank. That does not mean the entire proceeds amount is taxable gain.

What Is Form 1099-DA?

Form 1099-DA, Digital Asset Proceeds From Broker Transactions, is a broker information return for certain sales, exchanges, and other dispositions of digital assets. A broker may report transactions such as selling crypto for dollars, exchanging one digital asset for another, or using crypto to pay for goods or services through the broker.

The form reflects the reporting broker’s transactions. It is not a complete ledger of every wallet, exchange, DeFi position, or source of digital asset income you have. The IRS says you must report applicable digital asset income, gains, and losses even if you do not receive Form 1099-DA.

Why Did I Get One?

You may receive Form 1099-DA because a broker handled a reportable disposition for you. Merely holding crypto does not create a sale. Moving assets between accounts or wallets you own is generally not a taxable sale either, although a fee paid in digital assets may need separate review. If a reported transaction looks like a self-transfer, check the underlying records and contact the broker about a form you believe is incorrect.

For 2025 transactions, Form 1099-DA reporting generally applies to U.S. brokers. Transactions on a foreign exchange or outside a reporting broker can still belong on your tax return even when no Form 1099-DA arrives.

Which Boxes Should I Check First?

• Boxes 1a through 1c: Identify the digital asset and the number of units disposed of. Use the quantity to find the matching transaction in your records.
• Boxes 1d and 1e: Show the acquisition and disposition dates when the broker has the required information. An unknown acquisition date may be blank.
• Box 1f: Shows the proceeds the broker reported. Proceeds are not the same as gain.
• Box 1g: Shows cost or other basis when reported. A blank box does not establish that your basis is zero.
• Boxes 2 and 9: Indicate whether basis was reported to the IRS and whether the asset is noncovered.
• Boxes 12a and 12b: May identify units transferred into the broker and the transfer-in date. A transfer in can explain why the broker lacks the original acquisition records.

If you think the broker reported the wrong transaction, quantity, or proceeds, request a corrected form from the issuer and keep the original, correction, and correspondence.

Why Is My Cost Basis Blank?

For sales in 2025, brokers generally had to report proceeds, while basis reporting was voluntary. For sales after 2025, brokers generally must report basis for covered digital assets acquired after 2025 and held continuously with the same custodial broker until sale. Assets bought before 2026 or transferred into that broker are generally noncovered, and the broker may leave basis blank.

A blank basis field means you need to establish basis from your own records. It does not make the basis zero. A purchase confirmation, prior exchange history, wallet transfer trail, and records of applicable transaction costs may all matter.

If the asset came from staking, an airdrop, compensation, or another nonpurchase event, its basis may require a different calculation. Do not assume every coin’s basis equals a cash purchase.

What Can the Form Leave Out?

A Form 1099-DA from one broker will not necessarily capture:

• Activity at other exchanges or self-custody wallets
• DeFi transactions, bridges, and wrapped assets
• Staking rewards, airdrops, or other income items
• Acquisition history before an asset was transferred in
• Records from a closed or bankrupt exchange

Do not add a wallet transfer as a second sale just to make software totals match. Trace the movement, confirm who controlled the destination, and review any fee transaction separately. A polished software report is only as reliable as the records and classifications behind it.

What Should I Do With My Form 1099-DA?

1. Save the form and transaction detail. Check for corrected forms and keep the broker’s underlying export.
2. Gather the full history. Collect acquisition records, exchange exports, wallet addresses, transfer history, and prior-year tax reports for the assets sold.
3. Reconcile each disposition. Match the reported units and proceeds to the transaction, then identify the supported acquisition lot, basis, holding period, and applicable costs.
4. Review the tax reporting. For digital assets held as capital assets, compare the reconciled transactions with Form 8949 and Schedule D as applicable. Ask your tax preparer to review uncertain classifications or adjustments.

Our related guide explains why Form 1099-DA proceeds can look higher than your calculated gain. For lot selection and wallet-level records, see Crypto Cost Basis: FIFO, HIFO, and Specific ID.

Frequently Asked Questions

Is Form 1099-DA a tax bill?

No. It is an information return. It does not calculate your final tax liability.

Does a blank basis field mean zero basis?

No. The broker may not have the acquisition information or may not be required to report basis for that asset. You still need records supporting the basis you report.

Do I need to report crypto transactions if I received no Form 1099-DA?

Yes, when the transactions create reportable income, gain, or loss. The reporting obligation does not depend on receiving the form.

Sources: IRS guide to Form 1099-DA, IRS Instructions for Form 1099-DA, and IRS digital assets guidance.

This guide is general information. Tax treatment depends on the transactions and supporting records.