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1099-DA vs 1099-B: Which Form Covers Your Crypto?
This site provides general information, not tax, legal or financial advice. Consult a qualified tax professional. Last verified against IRS pages: October 17, 2026. Examples use made-up numbers for illustration only.
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Short answer: Form 1099-DA reports digital asset sales by brokers. Form 1099-B is for securities and similar transactions. The 2026 IRS instructions say a sale of a digital asset that is also a security (a "dual classification asset") is generally reported on 1099-DA, not 1099-B, with three exceptions.
The rule in the 1099-DA instructions
- Tokenized securities (registered with the SEC, other than as an investment contract): 1099-DA, not 1099-B.
- Three exceptions where 1099-B is used instead: 1. Section 1256 contracts such as regulated futures and section 1256 options on digital assets are reported on Form 1099-B (if the underlying digital asset is delivered, that delivery is a sale on 1099-DA). 2. Assets that are digital assets only because they clear on a limited-access regulated network: 1099-B. 3. Money market fund shares: not required on 1099-DA; 1099-B may be filed.
- A broker may use a single substitute statement for 1099-DA, 1099-B, 1099-INT and others, so you may see them together in one document.
- Interests in a widely held fixed investment trust: dispositions of the trust interest go on 1099-B.
What this means for you
- If you hold ordinary crypto on a U.S. exchange, expect a 1099-DA, not a 1099-B.
- Whichever form you get, Form 8949 is where you reconcile it (1099-DA vs Form 8949).
- Whether or not you receive any form, you must report all income, gains and losses from digital asset transactions.
FAQ
My broker sent a 1099-B for a crypto fund. Check what the asset is; the instructions' exceptions may apply. Ask the issuer.
Staking rewards? "Do not report rewards and staking payments on Form 1099-DA."
What we could not verify
- How individual brokers classify specific tokens, and the Treasury regulation text (we read only the IRS instructions).
- The final 2026 Form 8949 layout.
Sources
- IRS, Instructions for Form 1099-DA (2026) — https://www.irs.gov/instructions/i1099da (read October 17, 2026)
- IRS, Understanding your Form 1099-DA (page updated June 28, 2026) — https://www.irs.gov/businesses/understanding-your-form-1099-da (read October 17, 2026)
Not tax advice. Examples use made-up figures. Nothing here has been reviewed by a tax professional. We may earn commissions from affiliate links where marked; see the disclosure.