Form 1099-DA
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Form 1099-DA (officially titled "Digital Asset Proceeds From Broker Transactions") is an Internal Revenue Service (IRS) tax form used to report the sale or exchange of digital assets, such as cryptocurrency, stablecoins, and non-fungible tokens (NFTs).[1] Introduced for the 2025 tax year, it represents the first standardized information return specifically dedicated to digital asset transactions, bringing reporting requirements for digital brokers in line with those of traditional financial institutions.[2]
The creation of Form 1099-DA was mandated by the Infrastructure Investment and Jobs Act of 2021, which amended Internal Revenue Code Section 6045 to expand the definition of a "broker" to include persons who regularly provide services effectuating transfers of digital assets.[3] Previously, cryptocurrency transactions were reported inconsistently, often on Form 1099-B or Form 1099-MISC, or not reported by third parties at all, leading to significant challenges in tax compliance.[4]
Following the passage of the act, the IRS issued proposed regulations in August 2023. After reviewing over 44,000 public comments, the final regulations (T.D. 10000) were released on June 28, 2024.[5]