A year ago, we indicated how the IRS and other government organizations were increasing regulations for digital assets and crypto brokers in our blog. Now we can confirm the specific reports, instructions and the due date for these tax forms.
Beginning with transactions in calendar year 2025, brokers who facilitate digital asset transactions (such as crypto exchanges, trading platforms, and other intermediaries considered “brokers” under IRS rules) will be required to report them on the new Form 1099-DA. These brokers must also provide taxpayers with a copy of the statement reflecting what was reported to the IRS by February 17 each year.
The reporting applies to covered digital asset transactions handled through brokers, not necessarily every self-managed wallet-to-wallet transfer. As tax professionals, we have received additional guidance on how to report these transactions and what it is expected as part of the tax preparation in the IRS FS-2025-06.
If you have digital asset activity or expect to receive a Form 1099-DA, reach out to our team to stay fully compliant with the IRS requirements
IRS Link – Digital Assets
IRS Link – Form 1099 DA
IRS Link – Form 1099 DA instructions
