A reminder from the IRS: If you used a broker to sell or dispose of digital assets such as cryptocurrency or nonfungible tokens (NFTs) after Jan. 1, 2025, you might receive Form 1099-DA, “Digital Asset Proceeds From Broker Transactions,” this tax season. Brokers must report the gross proceeds from certain transactions to both taxpayers and the IRS and will send Form 1099-DA by Feb. 17, 2026. The form may not show your cost basis, so you’ll likely need to calculate it to determine your gain or loss. But even if you don’t receive a Form 1099-DA, you still need to report all digital asset income, gains and losses on your tax return. Contact us if you need guidance.
Our Blog 