Overview
- Investors will begin receiving Form 1099-DA in early 2026 for 2025 sales or exchanges executed on centralized platforms.
- Centralized brokers have until early 2027 to issue these forms, so the absence of a form does not eliminate reporting obligations.
- Mismatched or missing 1099s can prompt CP2000 notices from the IRS that may require amendments and lead to tax bills.
- Moving assets among wallets and exchanges often creates gaps or duplicates, and internal transfers should be tracked as non-taxable to avoid double-counting.
- Staking and mining receipts are typically treated as ordinary income, not capital gains, and the IRS expects all crypto income to be reported even if no form arrives.