Starting in tax year 2025, if you use a broker to sell or exchange a digital asset—such as cryptocurrency, NFTs, or stablecoins—your broker should issue you Form 1099‑DA.
Form 1099‑DA provides information needed to report capital gains or losses from digital asset transactions.
Will I receive a 1099-DA if I sold cryptocurrency?
If you sold cryptocurrency through a broker, you will likely receive a Form 1099‑DA.
Even if you do not receive a 1099‑DA, you are still responsible for reporting all your digital asset transactions on your tax return.
How to Enter a 1099‑DA in TaxSlayer
Form 1099‑DA is not a direct entry form.
You will not see a screen labeled “1099‑DA” in the program.
Instead, you enter the information in the Investments section, and we will automatically report the sale on Schedule D and Form 8949.
Program Entry Path
Federal
→ Income (Select My Forms)
→ Investments
→ Stocks, Mutual Funds, Cryptocurrency, Collectibles, etc.
Enter the transaction details exactly as listed on your Form 1099‑DA.
1099‑DA Box‑by‑Box Guide
- Box 1b – Description of Property
- Enter a short description of the asset sold (ex, “Bitcoin,” “NFT,” etc.).
- Box 1d – Date Acquired
- Enter the date you originally purchased or received the digital asset.
- Box 1e – Date Sold
- Enter the date you sold or exchanged the asset.
- Box 1f – Sales Price
- Enter the proceeds from the sale, reduced by commissions or transfer fees.
- Box 1g – Cost
- Enter the original cost or basis of the asset.
- Box 1i – Adjustments
- Enter adjustments only if listed on your 1099‑DA (e.g., nondeductible wash sale loss or accrued market discount). Most taxpayers will not need this box.
- Box 2 – Cost Basis Reported to IRS
- Check whether the broker reported the cost basis to the IRS (Covered = Yes; Noncovered = No).
- Box 4 – Federal Tax Withheld
- If federal tax was withheld, enter it under: Federal Section → Payments & Estimates → Other Federal Withholding.
-
Box 16 – State Tax Withheld
- If state withholding is listed, enter it under: Federal Section → Payments & Estimates → Other State Withholding.