VALID › Notice Library › Form 1099-DA
In the IRS’s own words · not reviewed by VALID
1099 notice explained, in the IRS’s own words
Who sends Form 1099-DA
Read the full 1099 page on irs.gov ↗
On this page
- Who sends Form 1099-DA
- Who gets Form 1099-DA
- What to do with Form 1099-DA
- If your Form 1099-DA has incorrect information
Who sends Form 1099-DA
Brokers must report gross proceeds from (and in some cases, basis for) sales or dispositions of digital assets to you and the IRS on Form 1099-DA.
For 2025, the Form 1099-DA filing requirements generally apply to U.S. brokers. This means that taxpayers transacting with foreign brokers, such as exchanges based outside the United States, may not receive a Form 1099-DA from that foreign broker. Any taxable transactions using foreign brokers must still be reported on your tax return.
Who gets Form 1099-DA
You’ll get a Form 1099-DA if you used a broker to affect any of the following transactions:
Disposed, sold, exchanged or transferred ownership of digital assets:
- For another digital asset
- In exchange or trade for property, goods or services in any amount
- To pay for broker transaction costs with digital assets
What to do with Form 1099-DA
Use the form and your other records to report your income on your tax return.
You must calculate basis before you file your tax return.
If your Form 1099-DA has incorrect information
- Request a corrected form from the issuer – see "Filer" on the top left corner of Form 1099-DA to find the name and contact information of the issuer.
- Keep a copy of the corrected Form 1099-DA with your records, along with any correspondence you have with the issuer Don't contact the IRS. We can't correct your Form 1099-DA.
- Don’t wait to file your taxes.
- Report income from the corrected Form 1099-DA on the appropriate tax return or schedule as you normally would.
What to do next
- Write down the date on the letter today.
- Look the number up on irs.gov yourself. Don’t trust a link or phone number from anyone else.
- If it says you owe money or proposes changes to your return, take it to a licensed CPA, EA or tax attorney before that date.
Not advice. Not a filing. Verify with a licensed professional. Rules change by year and facts.