If you sold, exchanged, or rebalanced digital assets in 2025, you may see a new tax form arrive in early 2026: IRS Form 1099-DA. For many families with more complex finances, this matters for one reason above all: digital asset activity often spans multiple exchanges, wallets, entities, and advisors, and a single form may not capture the full reporting story.
At Heritage, our tax preparation work is built for complexity. We support clients year-round by coordinating tax documents across investment accounts, entities, and reporting sources, and by identifying gaps early so filing stays organized and well-supported.
What is IRS Form 1099-DA?
Form 1099-DA is an information return that reports certain sales and exchanges of digital assets completed through a broker, such as a cryptocurrency exchange or platform acting as an intermediary. The broker sends a copy to you and to the IRS.
Digital assets can include cryptocurrency, stablecoins, NFTs, and other blockchain-based assets.
When will Form 1099-DA arrive?
NEW for 2025 transactions, Form 1099-DA is generally expected to be furnished by February 17, 2025. Timing can vary by platform and delivery method, so it is important to watch for forms from each exchange or broker you used.
Who will receive Form 1099-DA?
You will generally receive Form 1099-DA if you disposed of digital assets through a broker in 2025, such as selling for cash or exchanging one digital asset for another.
Why this can be more complicated for some households
For many investors, crypto activity is not contained in a single account. A 1099-DA may be only one input among several, especially when activity includes:
The practical takeaway is simple: even with 1099-DA reporting, clean documentation and reconciliation across sources still matter.
What information does it report?
In most cases, Form 1099-DA is intended to report transaction details that help the IRS match digital asset activity to a tax return. Depending on the platform and the type of activity, the form may summarize proceeds and other transaction information.
What it may not include (cost basis and multi-platform history)
Especially in early stages of reporting, some forms may not tell the full story on their own. Cost basis can be difficult to capture when assets were acquired years ago, transferred between wallets and exchanges, or spread across multiple platforms and entities.
That is why your own records remain important, particularly for households with long holding periods or complex ownership structures.
What to do now: a recordkeeping checklist
A straightforward way to stay organized:
How Heritage supports clients with tax preparation and digital asset reporting
For clients with multi-platform activity, tax prep is often less about a single form and more about pulling the full picture together. Our advantage is coordination. We offer white‑glove guidance, helping clients understand new reporting requirements, navigate evolving forms, and maintain the documentation needed to file with confidence.
This article is for educational purposes only and is not tax advice. Your situation may differ based on your transactions, documentation, and ownership structure.