How to File 1099-DA Online with TaxBandits
Enter Form Information
Provide the payer and payee information.
Review and Transmit
Review the information provided and transmit the return to the IRS.
Once the IRS accepts your return, you will receive a copy immediately by email.
TaxBandits Supports 1099 Filing with the IRS and State(s)
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TaxBandits supports 1099 filing with the IRS and State Agencies that require it.
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Frequently Asked Questions On Form 1099-DA
What is Form 1099-DA?
The IRS has not yet released Form 1099-DA. It is a proposed form to report specific information about cryptocurrency and NFT sales and exchanges. If approved, digital asset brokers will need to file and distribute Form 1099-DA to their traders/investors annually, beginning in 2026 for the 2025 tax year.
Why is Form 1099-DA being introduced?
The IRS plans to introduce this form as a means of tracking taxable income that often goes unreported. Form 1099-DA would simplify the process of tracking and reporting of income, capital gains, and losses associated primarily with digital assets.
What information is the IRS going to require on 1099-DA?
When this form becomes a tax requirement, presumably starting on January 1, 2026, digital asset brokers will be required to file 1099-DA to report the gross proceeds of digital asset sales and exchanges of cryptocurrency and NFTs. In addition to the filing requirement with the IRS, they will also need to furnish their traders/investors with a copy of 1099-DA.
Who will be required to file 1099-DA?
Form 1099-DA filing would be mandatory for entities engaged in the digital asset trade, including:
- Digital asset trading platforms
- Digital asset payment processors
- Digital asset hosted wallet providers
Moreover, the proposed regulations would extend the requirement to real estate professionals, including:
- Title companies
- Closing attorneys
- Mortgage lenders
- Real estate brokers
These real estate professionals would be classified as brokers for digital asset dispositions.
When is Form 1099-DA expected to be released by the IRS?
Based on the timeline that the IRS has proposed, Form 1099-DA would be made available for filing starting on January 1, 2026. This would require professionals who are classified as digital asset brokers to report the sales and exchanges of digital assets during the 2025 tax year.