Do I get a 1099 for crypto in 2026? What is Form 1099-DA?

Yes. Starting with tax year 2025 (forms issued in early 2026), crypto brokers and exchanges are required to issue Form 1099-DA to report your digital asset transactions to both you and the IRS.

What is Form 1099-DA?

Form 1099-DA is a new IRS information return specifically for digital asset proceeds. It works similarly to a 1099-B (which stock brokers issue) and reports:

• Proceeds from selling, swapping, or spending cryptocurrency
• Your cost basis (what you originally paid), where the broker has it
• Whether the gain is short-term (held 1 year or less) or long-term

Which exchanges must send 1099-DA?

U.S.-based centralized exchanges (Coinbase, Kraken, Gemini, etc.) are now required to report. Decentralized exchanges (DEXs) and self-custodied wallets are subject to a later rule phase-in — they are not yet required to report for 2025 transactions.

What you still need to do:

Even with 1099-DA, you are responsible for accuracy. Common gaps:

• Transfers between your own wallets — the exchange does not know your original cost basis if the crypto moved in from elsewhere
• DeFi activity, NFT trades, and staking rewards reported on other forms
• Crypto received as income (pay, mining) — taxed as ordinary income, not capital gains

Tax treatment reminder: Crypto is treated as property by the IRS. Every sale, swap, or purchase using crypto is a taxable event. Holding crypto is not taxable until you dispose of it.

Practical tip: Use a crypto tax tool (Koinly, CoinTracker, TaxBit) to reconcile all wallets and exchanges. A single 1099-DA from Coinbase will not capture your full picture if you also use other platforms.