1099-DA

What Is Form 1099-DA?

1099-DA, short for 1099-Digital Assets, is a brand-new IRS tax return, which is due for official use from the 2025 tax year.
The IRS is yet to publish information pertaining to this form.
According to tax experts, Form 1099-DA would be primarily used for reporting certain information pertaining to digital assets and crypto transactions.

When the form would be implemented for official regulatory use, taxpayers would be required to report and file Form 1099-DA online or by mail.
Just like other 1099 forms, Form 1099-DA would also be a part of the 1099 reporting mandate for business tax filers.
You will need to report with and file a 1099-DA tax return if you’re a crypto entity, and you have digital asset information to report.
The reporting instructions are yet to be published by the IRS.

According to experts, Form 1099-DA may require taxpayers to report information relating to crypto transactions and digital or virtual assets.
The IRS hasn’t confirmed or provided the direction on Form 1099-DA reporting instructions so far.
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Form 1099-DA is scheduled to be in official use from the 2024 tax year. The reporting instructions and the filing guidelines will be issued by the IRS in the next few months
Tax professionals and experts are looking forward to the specimen copy release later this year for the 1099-DA return.

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