Three Steps to Take Now

1.  Download complete transaction histories: Export CSV files and trade confirmations from every exchange and platform you used during the year—including purchase dates, original costs, and network transaction fees.
2. Track wallet transfers: If you moved assets from a private wallet to an exchange before selling, check whether the exchange marked Box 8 (customer-provided info) or Box 12a/12b (transfers-in) on your Form 1099-DA to ensure your cost basis isn’t missing or understated.
3. Reconcile your forms before filing: Match the proceeds and basis on your Forms 1099-DA against your crypto tax software or manual records before populating Form 8949 (Boxes G–L) and Schedule D.

The Bottom Line

Receiving a Form 1099-DA does not automatically mean you owe additional tax. It simply means that IRS matching systems now have direct visibility into your digital asset transaction proceeds. Maintaining detailed records and understanding how gross proceeds translate into taxable capital gains will help you file an accurate return with total confidence.

About the Author

Tynisa “Ty” Gaines, EA has more than 20 years of experience in the tax profession and is a nationally recognized tax educator, author, and speaker. She is a former President of the Virginia Society of Enrolled Agents, former Director of the National Association of Enrolled Agents, and former Editor-in-Chief of the EA Journal. She received the NAEA Mentor of the Year Award in 2022 and the NAEA Excellence in Education Award in 2025.

Ty is the author of Tax-ish and Tax-ish 2.0, contributes to J.K. Lasser publications, teaches EA exam preparation at Molloy University, and serves as a Tax Project Manager with TokenTax LLC specializing in digital asset taxation and compliance. She is known for translating complex tax concepts into practical guidance for taxpayers and tax professionals alike.